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REGISTERED NUMBER: 08041947 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Premierseal Limited

Premierseal Limited (Registered number: 08041947)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Premierseal Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr D C Harris
Mrs A R Harris





REGISTERED OFFICE: 12-14 Highcroft Industrial Estate
Enterprise Road
Waterlooville
Hampshire
PO8 0BT





REGISTERED NUMBER: 08041947 (England and Wales)





ACCOUNTANTS: Priors Consultancy (Southern) Limited
12 Priors Close
Southbourne
Emsworth
Hampshire
PO10 8LJ

Premierseal Limited (Registered number: 08041947)

Balance Sheet
31 March 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 257,790

CURRENT ASSETS
Stocks 5 203,000
Debtors 6 631,219
Cash at bank and in hand 151,585
985,804
CREDITORS
Amounts falling due within one year 7 622,648
NET CURRENT ASSETS 363,156
TOTAL ASSETS LESS CURRENT
LIABILITIES

620,946

CREDITORS
Amounts falling due after more than
one year

8

(36,687

)
NET ASSETS 657,633

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings 10 657,533
657,633

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Premierseal Limited (Registered number: 08041947)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:




Mr D C Harris - Director



Mrs A R Harris - Director


Premierseal Limited (Registered number: 08041947)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Premierseal Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Premierseal Limited (Registered number: 08041947)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 57,854 39,189 181,971 27,890 306,904
Additions 474 7,283 168,974 5,976 182,707
At 31 March 2024 58,328 46,472 350,945 33,866 489,611
DEPRECIATION
At 1 April 2023 20,217 24,172 118,895 12,436 175,720
Charge for year 6,460 4,014 41,769 3,858 56,101
At 31 March 2024 26,677 28,186 160,664 16,294 231,821
NET BOOK VALUE
At 31 March 2024 31,651 18,286 190,281 17,572 257,790
At 31 March 2023 37,637 15,017 63,076 15,454 131,184

5. STOCKS
£   
Stocks 28,000
Work-in-progress 175,000
203,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 492,845
Retentions 5,646
Other debtors 132,728
631,219

Premierseal Limited (Registered number: 08041947)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Bank loans and overdrafts (see note 9)
22,406
Hire purchase contracts 187,782
Trade creditors 280,035
Tax 7,101
Social security and other taxes 25,663
Student loan 443
VAT 60,121
Company credit card 12
Directors' current accounts 39,085
622,648

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
£   
Other loans (see note 9) (36,687 )

9. LOANS

An analysis of the maturity of loans is given below:

£   
Amounts falling due within one year or on demand:
Bounce back loan 22,406

Amounts falling due between one and two years:
Loan balance 18,898
Prem Group Loan 2,996
Premelec Loan (120,838 )
Premfit Loan (5,573 )
Premsafe South Loan 67,830
(36,687 )

10. RESERVES
Retained
earnings
£   

At 1 April 2023 646,941
Profit for the year 10,592
At 31 March 2024 657,533

Premierseal Limited

Report of the Accountants to the Directors of
Premierseal Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2024 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Priors Consultancy (Southern) Limited
12 Priors Close
Southbourne
Emsworth
Hampshire
PO10 8LJ


Date: .............................................