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Registration number: 04312002

Premier Developments Southern Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Premier Developments Southern Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Premier Developments Southern Limited

(Registration number: 04312002)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

9,257

12,344

Current assets

 

Debtors

5

1,872

1,600

Cash at bank and in hand

 

672,219

824,486

 

674,091

826,086

Creditors: Amounts falling due within one year

6

(687,290)

(793,474)

Net current (liabilities)/assets

 

(13,199)

32,612

Net (liabilities)/assets

 

(3,942)

44,956

Capital and reserves

 

Called up share capital

102

102

Retained earnings

(4,044)

44,854

Shareholders' (deficit)/funds

 

(3,942)

44,956

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 January 2025 and signed on its behalf by:
 

.........................................
M J Hopkin
Director

 

Premier Developments Southern Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company has the ongoing support of the directors such that they believe it appropriate that the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Premier Developments Southern Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% per annum of net book value

Plant and machinery

25% per annum of net book value

Office equipment

25% per annum of net book value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Work in progress is valued on the basis of direct costs plus attributable overheads based on a normal level of activity. A provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Premier Developments Southern Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

18,017

10,827

59,702

88,546

At 30 June 2024

18,017

10,827

59,702

88,546

Depreciation

At 1 July 2023

16,251

7,221

52,730

76,202

Charge for the year

442

902

1,743

3,087

At 30 June 2024

16,693

8,123

54,473

79,289

Carrying amount

At 30 June 2024

1,324

2,704

5,229

9,257

At 30 June 2023

1,766

3,606

6,972

12,344

5

Debtors

Current

2024
£

2023
£

Other debtors

1,872

1,600

 

1,872

1,600

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

3,039

81

Other creditors

684,251

793,393

687,290

793,474

 

Premier Developments Southern Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

Other payments made to company by director
£

At 30 June 2024
£

M J Hopkin

Directors loan account

(752,466)

100,000

(14,013)

3,175

(663,304)

R C Harbord

Directors loan account

(3,628)

51

(70)

-

(3,647)

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

Other payments made to company by director
£

At 30 June 2023
£

M J Hopkin

Directors loan account

(836,012)

96,017

(15,872)

3,401

(752,466)

R C Harbord

Directors loan account

(7,952)

4,518

(256)

62

(3,628)