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Company No: 07939797 (England and Wales)

PREMIER CREATIF LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 01 MARCH 2024 TO 31 DECEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

PREMIER CREATIF LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 MARCH 2024 TO 31 DECEMBER 2024

Contents

PREMIER CREATIF LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL PERIOD FROM 01 MARCH 2024 TO 31 DECEMBER 2024
PREMIER CREATIF LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL PERIOD FROM 01 MARCH 2024 TO 31 DECEMBER 2024
DIRECTORS B P Young
M J Young
SECRETARIES C L Young
M J Young
REGISTERED OFFICE Unit 4 Old Portsmouth Road
Peasmarsh
Guildford
GU3 1LZ
United Kingdom
COMPANY NUMBER 07939797 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
Wey Court West
Union Road
Farnham
Surrey
GU9 7PT
PREMIER CREATIF LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2024
PREMIER CREATIF LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024
Note 31.12.2024 29.02.2024
£ £
Fixed assets
Tangible assets 3 607,161 686,217
607,161 686,217
Current assets
Stocks 235,679 209,032
Debtors 4 456,032 505,981
Cash at bank and in hand 331,654 279,448
1,023,365 994,461
Creditors: amounts falling due within one year 5 ( 436,086) ( 428,329)
Net current assets 587,279 566,132
Total assets less current liabilities 1,194,440 1,252,349
Creditors: amounts falling due after more than one year 6 ( 789,350) ( 842,567)
Provision for liabilities 7 ( 151,072) ( 170,912)
Net assets 254,018 238,870
Capital and reserves
Called-up share capital 400 400
Profit and loss account 253,618 238,470
Total shareholders' funds 254,018 238,870

For the financial period ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Premier Creatif Limited (registered number: 07939797) were approved and authorised for issue by the Board of Directors on 13 March 2025. They were signed on its behalf by:

M J Young
Director
PREMIER CREATIF LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 MARCH 2024 TO 31 DECEMBER 2024
PREMIER CREATIF LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 MARCH 2024 TO 31 DECEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Premier Creatif Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 4 Old Portsmouth Road, Peasmarsh, Guildford, GU3 1LZ, United Kingdom. The company registered number is 07939797.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

The directors have taken the decision to shorten the company accounting period to from 28 February 2025 to 31 December 2024.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.

Taxation

Current tax
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.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Office equipment 4 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the has a present obligation (legal or constructive) as a result of a past event, it is probable that the will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

Period from
01.03.2024 to
31.12.2024
Year ended
29.02.2024
Number Number
Monthly average number of persons employed by the Company during the period, including directors 19 20

3. Tangible assets

Plant and machinery Office equipment Total
£ £ £
Cost
At 01 March 2024 854,015 42,538 896,553
Additions 11,324 1,877 13,201
At 31 December 2024 865,339 44,415 909,754
Accumulated depreciation
At 01 March 2024 186,566 23,770 210,336
Charge for the financial period 83,942 8,315 92,257
At 31 December 2024 270,508 32,085 302,593
Net book value
At 31 December 2024 594,831 12,330 607,161
At 29 February 2024 667,449 18,768 686,217
Leased assets included above:
Net book value
At 31 December 2024 424,449 0 424,449
At 29 February 2024 485,084 0 485,084

4. Debtors

31.12.2024 29.02.2024
£ £
Trade debtors 387,998 438,138
Prepayments 43,472 43,281
Other debtors 24,562 24,562
456,032 505,981

5. Creditors: amounts falling due within one year

31.12.2024 29.02.2024
£ £
Trade creditors 146,896 178,487
Amounts owed to directors 81,581 96,424
Accruals 37,520 34,033
Taxation and social security 104,889 59,426
Obligations under finance leases and hire purchase contracts 63,312 58,003
Other creditors 1,888 1,956
436,086 428,329

6. Creditors: amounts falling due after more than one year

31.12.2024 29.02.2024
£ £
Other loans 432,000 432,000
Obligations under finance leases and hire purchase contracts 357,350 410,567
789,350 842,567

There are no amounts included above in respect of which any security has been given by the small entity.

7. Deferred tax

31.12.2024 29.02.2024
£ £
At the beginning of financial period/year ( 170,912) ( 194,822)
Credited to the Statement of Income and Retained Earnings 19,840 23,910
At the end of financial period/year ( 151,072) ( 170,912)

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

31.12.2024 29.02.2024
£ £
within one year 112,368 104,704
between one and five years 322,205 389,270
434,573 493,974

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

31.12.2024 29.02.2024
£ £
Unpaid contributions due to the fund (inc. in other creditors) 1,888 1,407
Pension cost charge in profit or loss 8,535 8,277
10,423 9,684