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Company registration number: 5136305
Premier Builders (London) Limited
Unaudited filleted abridged financial statements
30 April 2024
Premier Builders (London) Limited
Contents
Directors and other information
Accountant's report
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Premier Builders (London) Limited
Directors and other information
Director Mr P.A. Cope
Secretary Mr P.A. Cope
Company number 5136305
Registered office 256 Sutton Common Road
Sutton
Surrey SM1 9PW
Accountant S Nunn and Co Limited
Unit 2, Guards Avenue
Caterham
Surrey
CR3 5XL
Bankers HSBC PLC
27 The Broadway
Cheam
Surrey SM3 8BJ
Premier Builders (London) Limited
Chartered accountant's report to the director on the preparation of the
unaudited statutory financial statements of Premier Builders (London) Limited
Year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Premier Builders (London) Limited for the year ended 30 April 2024 which comprise the abridged statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Premier Builders (London) Limited, as a body, in accordance with the terms of my engagement letter. My work has been undertaken solely to prepare for your approval the financial statements of Premier Builders (London) Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Premier Builders (London) Limited and its director as a body for my work or for this report.
It is your duty to ensure that Premier Builders (London) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Premier Builders (London) Limited. You consider that Premier Builders (London) Limited is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Premier Builders (London) Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
S Nunn and Co Limited
Chartered Accountants
Unit 2, Guards Avenue
Caterham
Surrey
CR3 5XL
12 January 2025
Premier Builders (London) Limited
Abridged statement of financial position
30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 130,362 132,983
_______ _______
130,362 132,983
Current assets
Debtors 90,712 97,526
Cash at bank and in hand 419,150 183,705
_______ _______
509,862 281,231
Creditors: amounts falling due
within one year ( 227,135) ( 82,628)
_______ _______
Net current assets 282,727 198,603
_______ _______
Total assets less current liabilities 413,089 331,586
Creditors: amounts falling due
after more than one year ( 29,621) ( 38,835)
Provisions for liabilities ( 2,091) -
_______ _______
Net assets 381,377 292,751
_______ _______
Capital and reserves
Called up share capital 110 110
Profit and loss account 381,267 292,641
_______ _______
Shareholders funds 381,377 292,751
_______ _______
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 12 January 2025 , and are signed on behalf of the board by:
Mr P.A. Cope
Director
Company registration number: 5136305
Premier Builders (London) Limited
Statement of changes in equity
Year ended 30 April 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 May 2022 110 287,446 287,556
Profit for the year 136,695 136,695
_______ _______ _______
Total comprehensive income for the year - 136,695 136,695
Dividends paid and payable ( 131,500) ( 131,500)
_______ _______ _______
Total investments by and distributions to owners - ( 131,500) ( 131,500)
_______ _______ _______
At 30 April 2023 and 1 May 2023 110 292,641 292,751
Profit for the year 233,626 233,626
_______ _______ _______
Total comprehensive income for the year - 233,626 233,626
Dividends paid and payable ( 145,000) ( 145,000)
_______ _______ _______
Total investments by and distributions to owners - ( 145,000) ( 145,000)
_______ _______ _______
At 30 April 2024 110 381,267 381,377
_______ _______ _______
Premier Builders (London) Limited
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 256 Sutton Common Road, Sutton, Surrey SM1 9PW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration receivable for services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 3 ).
5. Tangible assets
£
Cost
At 1 May 2023 and 30 April 2024 159,081
_______
Depreciation
At 1 May 2023 26,098
Charge for the year 2,621
_______
At 30 April 2024 28,719
_______
Carrying amount
At 30 April 2024 130,362
_______
At 30 April 2023 132,983
_______
6. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr P.A. Cope ( 86) ( 131) ( 217)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr P.A. Cope ( 105) 19 ( 86)
_______ _______ _______
7. Related party transactions
During the year, dividends of £87,500 (2023: £87,500) were paid to the director of the company
8. Controlling party
The controlling interest in the Company is held by Mr P. Cope who owns 100% of the issued voting shares .