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Registered number: 02194175









PREMIER LABORATORY SYSTEMS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
PREMIER LABORATORY SYSTEMS LIMITED
REGISTERED NUMBER: 02194175

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
14,812
22,485

  
14,812
22,485

CURRENT ASSETS
  

Stocks
  
577,975
158,220

Debtors: amounts falling due within one year
 5 
1,479,922
1,257,426

Cash at bank and in hand
  
134,089
25,026

  
2,191,986
1,440,672

Creditors: amounts falling due within one year
 6 
(1,301,300)
(570,697)

NET CURRENT ASSETS
  
 
 
890,686
 
 
869,975

TOTAL ASSETS LESS CURRENT LIABILITIES
  
905,498
892,460

Creditors: amounts falling due after more than one year
  
(10,828)
(15,858)

  

NET ASSETS
  
894,670
876,602


CAPITAL AND RESERVES
  

Called up share capital 
 8 
70,120
70,120

Profit and loss account
  
824,550
806,482

  
894,670
876,602


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.

Page 1

 
PREMIER LABORATORY SYSTEMS LIMITED
REGISTERED NUMBER: 02194175
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

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 profit and loss account 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 by: 




Mr J Romero Munoz
Director

Date: 27 March 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
PREMIER LABORATORY SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


GENERAL INFORMATION

Premier Laboratory Systems Limited is a private Company limited by shares and incorporated in England and Wales. Its registered office is 50/60 Station Road, Cambridge, England, CB1 2JH. 
The Company's principal place of business is 10 Tollpark Place, Wardpark Industrial Estate, Cumbernauld G68 0LN.

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.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

 
2.3

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:

Long-term leasehold property
-
10%
Straight line
Plant and machinery
-
20%
Straight line
Motor vehicles
-
25%
Straight line
Fixtures and fittings
-
20%
Straight line

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.

 
2.4

STOCKS

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks, Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Page 3

 
PREMIER LABORATORY SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

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.

 
2.6

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.

 
2.7

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.

 
2.8

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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.

 
2.9

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.

 
2.10

LEASING AND HIRE PURCHASE

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase 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 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.

Page 4

 
PREMIER LABORATORY SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.11

INTEREST INCOME

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

 
2.12

PENSIONS

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

 
2.13

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 17 (2023 - 17).

Page 5

 
PREMIER LABORATORY SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


TANGIBLE FIXED ASSETS





Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



COST OR VALUATION


At 1 July 2023
68,175
15,392
85,418
44,175
213,160


Additions
-
-
-
369
369



At 30 June 2024

68,175
15,392
85,418
44,544
213,529



DEPRECIATION


At 1 July 2023
68,175
15,392
66,462
40,646
190,675


Charge for the year on owned assets
-
-
-
1,542
1,542


Charge for the year on financed assets
-
-
6,500
-
6,500



At 30 June 2024

68,175
15,392
72,962
42,188
198,717



NET BOOK VALUE



At 30 June 2024
-
-
12,456
2,356
14,812



At 30 June 2023
-
-
18,956
3,529
22,485

Included within tangible fixed assets are assets under hire purchase with a net book value of £12,457 (2023: £18,957)


5.


DEBTORS

2024
2023
£
£


Trade debtors
775,032
414,358

Amounts owed by group undertakings
512,368
709,534

Other debtors
131,594
76,690

Prepayments and accrued income
50,778
49,400

Deferred taxation
10,150
7,444

1,479,922
1,257,426


Page 6

 
PREMIER LABORATORY SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
632,960
262,771

Corporation tax
9,124
19,509

Other taxation and social security
16,416
12,658

Obligations under finance lease and hire purchase contracts
5,030
5,030

Other creditors
13,081
14,797

Accruals and deferred income
624,689
255,932

1,301,300
570,697


Other creditors include contributions of £3,423 (2023 - £3,435) payable to the Company's defined contribution penson scheme at the balance sheet date.


7.


DEFERRED TAXATION




2024


£






At beginning of year
7,444


Charged to profit or loss
2,706



AT END OF YEAR
10,150

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
10,150
7,444

10,150
7,444

Page 7

 
PREMIER LABORATORY SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



46,980 (2023 - 46,980) A ordinary shares shares of £1 each
46,980
46,980
23,140 (2023 - 23,140) B ordinary shares shares of £1 each
23,140
23,140

70,120

70,120



9.OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingences that are not included in the balance sheet amount to £190,177 (2023 - £255,825).


10.


CONTROLLING PARTY

The immediate parent company is Mobilab Proyectos S.L., a company incorporated in Spain. The ultimate controlling parties are Mr F Romero Munoz and Mr J Romero Munoz.

 
Page 8