Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-31No description of principal activityfalse162023-06-01false18trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09348306 2023-06-01 2024-05-31 09348306 2022-06-01 2023-05-31 09348306 2024-05-31 09348306 2023-05-31 09348306 c:Director1 2023-06-01 2024-05-31 09348306 d:PlantMachinery 2023-06-01 2024-05-31 09348306 d:PlantMachinery 2024-05-31 09348306 d:PlantMachinery 2023-05-31 09348306 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 09348306 d:MotorVehicles 2023-06-01 2024-05-31 09348306 d:MotorVehicles 2024-05-31 09348306 d:MotorVehicles 2023-05-31 09348306 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 09348306 d:FurnitureFittings 2023-06-01 2024-05-31 09348306 d:FurnitureFittings 2024-05-31 09348306 d:FurnitureFittings 2023-05-31 09348306 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 09348306 d:OfficeEquipment 2023-06-01 2024-05-31 09348306 d:OfficeEquipment 2024-05-31 09348306 d:OfficeEquipment 2023-05-31 09348306 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 09348306 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 09348306 d:CurrentFinancialInstruments 2024-05-31 09348306 d:CurrentFinancialInstruments 2023-05-31 09348306 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 09348306 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 09348306 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 09348306 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 09348306 d:ShareCapital 2024-05-31 09348306 d:ShareCapital 2023-05-31 09348306 d:RetainedEarningsAccumulatedLosses 2024-05-31 09348306 d:RetainedEarningsAccumulatedLosses 2023-05-31 09348306 c:OrdinaryShareClass1 2023-06-01 2024-05-31 09348306 c:OrdinaryShareClass1 2024-05-31 09348306 c:OrdinaryShareClass1 2023-05-31 09348306 c:FRS102 2023-06-01 2024-05-31 09348306 c:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 09348306 c:FullAccounts 2023-06-01 2024-05-31 09348306 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09348306 2 2023-06-01 2024-05-31 09348306 e:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09348306










Premier MBP Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 May 2024

 
Premier MBP Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Premier MBP Limited for the year ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Premier MBP Limited for the year ended 31 May 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Premier MBP Limited, as a body, in accordance with the terms of our engagement letter dated 25 January 2023Our work has been undertaken solely to prepare for your approval the financial statements of Premier MBP Limited and state those matters that we have agreed to state to the Board of directors of Premier MBP Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Premier MBP Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Premier MBP 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 MBP Limited. You consider that Premier MBP Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Premier MBP Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Canterbury
27 February 2025
Page 1

 
Premier MBP Limited
Registered number: 09348306

Balance sheet
As at 31 May 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
91,346
176,210

  
91,346
176,210

Current assets
  

Stocks
  
1,357,511
1,500,452

Debtors: amounts falling due within one year
 5 
425,648
893,640

Cash at bank and in hand
  
182,511
674,167

  
1,965,670
3,068,259

Creditors: amounts falling due within one year
 6 
(1,126,298)
(2,492,780)

Net current assets
  
 
 
839,372
 
 
575,479

Total assets less current liabilities
  
930,718
751,689

Creditors: amounts falling due after more than one year
  
(12,231)
(22,435)

  

Net assets
  
918,487
729,254


Capital and reserves
  

Called up share capital 
 7 
200
200

Profit and loss account
  
918,287
729,054

  
918,487
729,254


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 February 2025.

R A Gorman
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
Premier MBP Limited
 

 
Notes to the financial statements
For the year ended 31 May 2024

1.


General information

Premier MBP Limited (company number 09348306) is a private company limited by shares and
incorporated in England. The address of the company's principal place of business is Daytona Drive, Colthrop Lane, Thatcham, Newbury, RG19 4ZD. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

These financial statements are rounded to the nearest pound.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is pounds sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
Premier MBP Limited
 

 
Notes to the financial statements
For the year ended 31 May 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
Motor vehicles
-
20%
Fixtures and fittings
-
15%
Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
Premier MBP Limited
 

 
Notes to the financial statements
For the year ended 31 May 2024

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. 

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2023 - 18).

Page 5

 
Premier MBP Limited
 

 
Notes to the financial statements
For the year ended 31 May 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 June 2023
37,167
388,492
25,835
11,581
463,075


Additions
9,323
16,193
-
410
25,926


Disposals
-
(82,193)
-
-
(82,193)



At 31 May 2024

46,490
322,492
25,835
11,991
406,808



Depreciation


At 1 June 2023
21,562
245,275
10,261
9,767
286,865


Charge for the year on owned assets
6,678
19,466
3,768
1,424
31,336


Disposals
-
(2,739)
-
-
(2,739)



At 31 May 2024

28,240
262,002
14,029
11,191
315,462



Net book value



At 31 May 2024
18,250
60,490
11,806
800
91,346



At 31 May 2023
15,605
143,217
15,574
1,814
176,210


5.


Debtors

2024
2023
£
£


Trade debtors
239,236
751,213

Other debtors
92,658
76,925

Prepayments and accrued income
93,754
65,502

425,648
893,640


Page 6

 
Premier MBP Limited
 

 
Notes to the financial statements
For the year ended 31 May 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,204
9,953

Trade creditors
716,516
402,763

Amounts owed to group undertakings
291,297
616,419

Other taxation and social security
73,309
202,434

Obligations under finance lease and hire purchase contracts
-
68,443

Other creditors
18,529
208,363

Accruals and deferred income
16,443
984,405

1,126,298
2,492,780



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



200 (2023 - 200) Ordinary shares of £1.00 each
200
200



8.


Related party transactions

All related party transactions during the current and prior periods, including key management personnel compensation, were made under normal market conditions.


9.


Controlling party

The company is controlled by Mr R A Gorman, a director of the company, by virtue of his 100% shareholding.


Page 7