IRIS Accounts Production v24.2.0.383 02597062 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh025970622023-04-30025970622024-04-30025970622023-05-012024-04-30025970622022-04-30025970622022-05-012023-04-30025970622023-04-3002597062ns15:EnglandWales2023-05-012024-04-3002597062ns14:PoundSterling2023-05-012024-04-3002597062ns10:Director12023-05-012024-04-3002597062ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3002597062ns10:SmallEntities2023-05-012024-04-3002597062ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3002597062ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3002597062ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3002597062ns10:FullAccounts2023-05-012024-04-300259706212023-05-012024-04-3002597062ns10:Director22023-05-012024-04-3002597062ns10:Director32023-05-012024-04-3002597062ns10:Director42023-05-012024-04-3002597062ns10:RegisteredOffice2023-05-012024-04-3002597062ns5:CurrentFinancialInstruments2024-04-3002597062ns5:CurrentFinancialInstruments2023-04-3002597062ns5:Non-currentFinancialInstruments2024-04-3002597062ns5:Non-currentFinancialInstruments2023-04-3002597062ns5:ShareCapital2024-04-3002597062ns5:ShareCapital2023-04-3002597062ns5:RetainedEarningsAccumulatedLosses2024-04-3002597062ns5:RetainedEarningsAccumulatedLosses2023-04-3002597062ns5:NetGoodwill2023-05-012024-04-3002597062ns5:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3002597062ns5:LongLeaseholdAssetsns5:LandBuildings2023-05-012024-04-3002597062ns5:FurnitureFittings2023-05-012024-04-3002597062ns5:MotorVehicles2023-05-012024-04-3002597062ns5:NetGoodwill2023-04-3002597062ns5:NetGoodwill2024-04-3002597062ns5:NetGoodwill2023-04-3002597062ns5:LongLeaseholdAssetsns5:LandBuildings2023-04-3002597062ns5:FurnitureFittings2023-04-3002597062ns5:MotorVehicles2023-04-3002597062ns5:LongLeaseholdAssetsns5:LandBuildings2024-04-3002597062ns5:FurnitureFittings2024-04-3002597062ns5:MotorVehicles2024-04-3002597062ns5:LongLeaseholdAssetsns5:LandBuildings2023-04-3002597062ns5:FurnitureFittings2023-04-3002597062ns5:MotorVehicles2023-04-3002597062ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3002597062ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-30
REGISTERED NUMBER: 02597062 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

PREMSON LTD
T/A
HEMANTS CHEMIST

PREMSON LTD (Registered number: 02597062)
T/A HEMANTS CHEMIST

Contents of the Financial Statements
for the Year Ended 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PREMSON LTD
T/A HEMANTS CHEMIST

Company Information
for the Year Ended 30 APRIL 2024







DIRECTORS: Mrs S L Patel
N K Patel
L K Patel
Mrs M N Patel





REGISTERED OFFICE: Alpha House
296 Kenton Road
Harrow
HA3 8DD





REGISTERED NUMBER: 02597062 (England and Wales)





ACCOUNTANTS: Frasers Young Limited
Chartered Certified Accountants
Alpha House
296 Kenton Road
Harrow
HA3 8DD

PREMSON LTD (Registered number: 02597062)
T/A HEMANTS CHEMIST

Balance Sheet
30 APRIL 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 47,586 54,891
47,586 54,891

CURRENT ASSETS
Stocks 74,398 77,822
Debtors 6 541,048 212,418
Cash at bank and in hand 181,552 262,540
796,998 552,780
CREDITORS
Amounts falling due within one year 7 (496,757 ) (369,167 )
NET CURRENT ASSETS 300,241 183,613
TOTAL ASSETS LESS CURRENT
LIABILITIES

347,827

238,504

CREDITORS
Amounts falling due after more than one
year

8

(12,415

)

(22,500

)
NET ASSETS 335,412 216,004

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 335,212 215,804
335,412 216,004

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

PREMSON LTD (Registered number: 02597062)
T/A HEMANTS CHEMIST

Balance Sheet - continued
30 APRIL 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 15 January 2025 and were signed on its behalf by:





L K Patel - Director


PREMSON LTD (Registered number: 02597062)
T/A HEMANTS CHEMIST

Notes to the Financial Statements
for the Year Ended 30 APRIL 2024


1. STATUTORY INFORMATION

PREMSON LTD 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.

Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised 10% on a straight line basis over its useful life.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Long leasehold - 5% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25 % on reducing balance

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair
value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated life:
Leasehold improvement - 5% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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


PREMSON LTD (Registered number: 02597062)
T/A HEMANTS CHEMIST

Notes to the Financial Statements - continued
for the Year Ended 30 APRIL 2024


2. ACCOUNTING POLICIES - continued
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.

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 20 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 255,000
AMORTISATION
At 1 May 2023
and 30 April 2024 255,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

PREMSON LTD (Registered number: 02597062)
T/A HEMANTS CHEMIST

Notes to the Financial Statements - continued
for the Year Ended 30 APRIL 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 60,862 139,393 9,050 209,305
Additions - 1,093 - 1,093
At 30 April 2024 60,862 140,486 9,050 210,398
DEPRECIATION
At 1 May 2023 35,450 113,732 5,232 154,414
Charge for year 3,812 4,013 573 8,398
At 30 April 2024 39,262 117,745 5,805 162,812
NET BOOK VALUE
At 30 April 2024 21,600 22,741 3,245 47,586
At 30 April 2023 25,412 25,661 3,818 54,891

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 472,173 160,224
Other debtors 68,875 52,194
541,048 212,418

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 389,901 292,090
Taxation and social security 86,790 57,372
Other creditors 10,066 9,705
496,757 369,167

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 12,415 22,500