Company registration number 05250342 (England and Wales)
PREMIERCHOICE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
PREMIERCHOICE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
PREMIERCHOICE LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,280,466
1,346,059
Current assets
Stocks
101,352
101,506
Debtors falling due after more than one year
4
2,142,191
1,956,430
Debtors falling due within one year
4
635,643
806,662
Cash at bank and in hand
662,860
800,216
3,542,046
3,664,814
Creditors: amounts falling due within one year
5
(1,069,082)
(1,285,335)
Net current assets
2,472,964
2,379,479
Total assets less current liabilities
3,753,430
3,725,538
Creditors: amounts falling due after more than one year
6
(666,718)
(1,159,153)
Provisions for liabilities
-
0
(18,632)
Net assets
3,086,712
2,547,753
Capital and reserves
Called up share capital
152,188
152,188
Capital redemption reserve
30,812
30,812
Profit and loss reserves
2,903,712
2,364,753
Total equity
3,086,712
2,547,753
PREMIERCHOICE LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 27 March 2025 and are signed on its behalf by:
H Samson
Director
Company registration number 05250342 (England and Wales)
PREMIERCHOICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Premierchoice Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Algores Way, Weasenham Lane, Wisbech, Cambridgeshire, PE13 2TQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
100 years straight line
Plant and machinery
5 years straight line
Fixtures, fittings and office equipment
5-10 years straight line
Motor vehicles
4 years straight line

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.

PREMIERCHOICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Provisions are made for obsolete and slow moving stocks.

 

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price.

 

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

1.7
Equity instruments

Share capital issued by the company is recorded at the proceeds received, net of transaction costs. Dividends payable on share capital are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

PREMIERCHOICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
149
155
PREMIERCHOICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
1,571,142
1,738,413
3,309,555
Additions
-
0
5,580
5,580
Disposals
-
0
(61,562)
(61,562)
At 31 December 2024
1,571,142
1,682,431
3,253,573
Depreciation and impairment
At 1 January 2024
365,238
1,598,258
1,963,496
Depreciation charged in the year
13,563
57,610
71,173
Eliminated in respect of disposals
-
0
(61,562)
(61,562)
At 31 December 2024
378,801
1,594,306
1,973,107
Carrying amount
At 31 December 2024
1,192,341
88,125
1,280,466
At 31 December 2023
1,205,904
140,155
1,346,059

Included in land and buildings is freehold land of £215,000 (2023 - £215,000) which is not depreciated.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
600,573
790,241
Other debtors
34,826
16,421
635,399
806,662
Deferred tax asset
244
-
0
635,643
806,662
PREMIERCHOICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
4
Debtors
(Continued)
- 7 -
2024
2023
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
2,142,191
1,956,430
Total debtors
2,777,834
2,763,092
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
93,750
144,600
Trade creditors
441,667
482,771
Corporation tax
103,500
205,000
Other taxation and social security
325,450
336,263
Other creditors
104,715
116,701
1,069,082
1,285,335

Other Creditors include net obligations under hire purchase contracts of £10,054 (2023: £10,054) that are secured on the assets to which they relate.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
648,438
1,130,666
Other creditors
18,280
28,487
666,718
1,159,153

Other Creditors include net obligations under hire purchase contracts of £18,280 (2023: £28,487) that are secured on the assets to which they relate.

PREMIERCHOICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
143,012
80,670
8
Related party transactions

The parent company of Premierchoice Limited is Prem Bidco Limited. At at 31 December 2024 the balance owed to the company by Prem Bidco Limited was £2,142,191 (20231,956,430).

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