Acorah Software Products - Accounts Production 16.1.200 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 03048589 Miss VERA CAROTTI Mr MAHMOOD HUSSAIN Mr Yasar Hussain Miss VERA CAROTTI true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03048589 2023-04-30 03048589 2024-04-30 03048589 2023-05-01 2024-04-30 03048589 frs-core:CurrentFinancialInstruments 2024-04-30 03048589 frs-core:Non-currentFinancialInstruments 2024-04-30 03048589 frs-core:BetweenOneFiveYears 2024-04-30 03048589 frs-core:ComputerEquipment 2024-04-30 03048589 frs-core:ComputerEquipment 2023-05-01 2024-04-30 03048589 frs-core:ComputerEquipment 2023-04-30 03048589 frs-core:FurnitureFittings 2024-04-30 03048589 frs-core:FurnitureFittings 2023-05-01 2024-04-30 03048589 frs-core:FurnitureFittings 2023-04-30 03048589 frs-core:NetGoodwill 2024-04-30 03048589 frs-core:NetGoodwill 2023-05-01 2024-04-30 03048589 frs-core:NetGoodwill 2023-04-30 03048589 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-04-30 03048589 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03048589 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-30 03048589 frs-core:MotorVehicles 2024-04-30 03048589 frs-core:MotorVehicles 2023-05-01 2024-04-30 03048589 frs-core:MotorVehicles 2023-04-30 03048589 frs-core:PlantMachinery 2024-04-30 03048589 frs-core:PlantMachinery 2023-05-01 2024-04-30 03048589 frs-core:PlantMachinery 2023-04-30 03048589 frs-core:WithinOneYear 2024-04-30 03048589 frs-core:SharePremium 2024-04-30 03048589 frs-core:ShareCapital 2024-04-30 03048589 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 03048589 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03048589 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 03048589 frs-bus:SmallEntities 2023-05-01 2024-04-30 03048589 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 03048589 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 03048589 1 2023-05-01 2024-04-30 03048589 frs-bus:Director1 2023-05-01 2024-04-30 03048589 frs-bus:Director2 2023-05-01 2024-04-30 03048589 frs-bus:Director3 2023-05-01 2024-04-30 03048589 frs-bus:CompanySecretary1 2023-05-01 2024-04-30 03048589 frs-countries:EnglandWales 2023-05-01 2024-04-30 03048589 2022-04-30 03048589 2023-04-30 03048589 2022-05-01 2023-04-30 03048589 frs-core:CurrentFinancialInstruments 2023-04-30 03048589 frs-core:Non-currentFinancialInstruments 2023-04-30 03048589 frs-core:BetweenOneFiveYears 2023-04-30 03048589 frs-core:WithinOneYear 2023-04-30 03048589 frs-core:SharePremium 2023-04-30 03048589 frs-core:ShareCapital 2023-04-30 03048589 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 03048589
PREMIUM MINIBUSES & CARS LIMITED
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03048589
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 851,014 902,414
851,014 902,414
CURRENT ASSETS
Debtors 6 373,824 504,367
Cash at bank and in hand 203,789 141,736
577,613 646,103
Creditors: Amounts Falling Due Within One Year 7 (336,111 ) (382,804 )
NET CURRENT ASSETS (LIABILITIES) 241,502 263,299
TOTAL ASSETS LESS CURRENT LIABILITIES 1,092,516 1,165,713
Creditors: Amounts Falling Due After More Than One Year 8 (102,588 ) (123,810 )
NET ASSETS 989,928 1,041,903
CAPITAL AND RESERVES
Called up share capital 10 10 10
Share premium account 33,000 33,000
Profit and Loss Account 956,918 1,008,893
SHAREHOLDERS' FUNDS 989,928 1,041,903
Page 1
Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss VERA CAROTTI
Director
17/01/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
PREMIUM MINIBUSES & CARS LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 03048589 . The registered office is NEW HOUSE, MARLOW ROAD, LANE END, HIGH WYCOMBE, BUCKINGHAMSHIRE, HP14 3JP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0
Plant & Machinery 20
Motor Vehicles 25
Fixtures & Fittings 20
Computer Equipment 20
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2024 2023
Office and administration 6 6
6 6
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 33,000
As at 30 April 2024 33,000
Amortisation
As at 1 May 2023 33,000
As at 30 April 2024 33,000
Net Book Value
As at 30 April 2024 -
As at 1 May 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 May 2023 484,459 35,544 1,362,597 63,402
Additions - - 74,901 -
Disposals - - (108,721 ) -
As at 30 April 2024 484,459 35,544 1,328,777 63,402
Depreciation
As at 1 May 2023 - 25,830 956,866 61,718
Provided during the period - 1,942 118,923 336
Disposals - - (103,786 ) -
As at 30 April 2024 - 27,772 972,003 62,054
Net Book Value
As at 30 April 2024 484,459 7,772 356,774 1,348
As at 1 May 2023 484,459 9,714 405,731 1,684
Computer Equipment Total
£ £
Cost
As at 1 May 2023 2,064 1,948,066
Additions - 74,901
Disposals - (108,721 )
As at 30 April 2024 2,064 1,914,246
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 May 2023 1,238 1,045,652
Provided during the period 165 121,366
Disposals - (103,786 )
As at 30 April 2024 1,403 1,063,232
Net Book Value
As at 30 April 2024 661 851,014
As at 1 May 2023 826 902,414
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 373,824 504,367
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 51,895 58,225
Trade creditors 40,509 65,837
Bank loans and overdrafts 19,781 19,781
Other loans 55,000 20,000
Corporation tax 46,310 37,091
Other taxes and social security 790 4,303
VAT 107,218 162,881
Accruals and deferred income 14,000 14,000
Directors' loan accounts 608 686
336,111 382,804
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 46,509 50,889
Bank loans 56,079 72,921
102,588 123,810
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 51,895 58,225
Later than one year and not later than five years 46,509 50,889
98,404 109,114
98,404 109,114
Page 5
Page 6
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 138,000 119,486
12. Ultimate Controlling Party
The company's ultimate controlling party is Miss Vera Anne Carotti by virtue of her ownership of 70% of the issued share capital in the company.
Page 6