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REGISTERED NUMBER: 11461247 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

PREMIUM CAR PARKS LTD

PREMIUM CAR PARKS LTD (REGISTERED NUMBER: 11461247)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PREMIUM CAR PARKS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: M R Bennett
Dr R Fisher
C Pengilly





REGISTERED OFFICE: 2 Church Street
Burnham
Slough
SL1 7HZ





REGISTERED NUMBER: 11461247 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
5th Floor, R+ Building
2 Blagrave Street
Reading
Berkshire
RG1 1AZ

PREMIUM CAR PARKS LTD (REGISTERED NUMBER: 11461247)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 86,195 60,917
Investments 6 1 -
86,196 60,917

CURRENT ASSETS
Debtors 7 487,199 465,157
Cash at bank 1,350,415 1,202,449
1,837,614 1,667,606
CREDITORS
Amounts falling due within one year 8 (932,987 ) (1,121,978 )
NET CURRENT ASSETS 904,627 545,628
TOTAL ASSETS LESS CURRENT
LIABILITIES

990,823

606,545

CREDITORS
Amounts falling due after more than
one year

9

(8,333

)

(18,333

)

PROVISIONS FOR LIABILITIES 12 (17,971 ) (10,577 )
NET ASSETS 964,519 577,635

CAPITAL AND RESERVES
Called up share capital 13 15 15
Retained earnings 964,504 577,620
SHAREHOLDERS' FUNDS 964,519 577,635

PREMIUM CAR PARKS LTD (REGISTERED NUMBER: 11461247)

BALANCE SHEET - continued
31 JULY 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2025 and were signed on its behalf by:





M R Bennett - Director


PREMIUM CAR PARKS LTD (REGISTERED NUMBER: 11461247)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

Premium Car Parks Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company has cash resources and is profitable and cash positive on a monthly basis and therefore can see no circumstances where it will require external funding.

Having regard to the above, the directors believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.


PREMIUM CAR PARKS LTD (REGISTERED NUMBER: 11461247)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 28,359
AMORTISATION
At 1 August 2023
and 31 July 2024 28,359
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

PREMIUM CAR PARKS LTD (REGISTERED NUMBER: 11461247)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 August 2023 155,087
Additions 68,582
At 31 July 2024 223,669
DEPRECIATION
At 1 August 2023 94,170
Charge for year 43,304
At 31 July 2024 137,474
NET BOOK VALUE
At 31 July 2024 86,195
At 31 July 2023 60,917

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
Additions 1
At 31 July 2024 1
NET BOOK VALUE
At 31 July 2024 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 491,737 457,101
Bad debt provision (26,114 ) (13,131 )
Called up share capital not paid 3 3
Prepayments and accrued income 21,573 21,184
487,199 465,157

PREMIUM CAR PARKS LTD (REGISTERED NUMBER: 11461247)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans (see note 10) 10,000 10,000
Trade creditors 179,878 41,320
Corporation tax 123,788 99,845
Social security and other taxes 26,073 23,673
VAT 75,006 88,635
Other creditors 490 320
Pensions payable 3,036 1,856
Accruals and deferred income 514,716 856,329
932,987 1,121,978

9. CREDITORS MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 10) 8,333 18,333

Bank loans relate to COVID-19 support schemes and are repayable over a 6 year period. No capital is repayable in the first 12 months. Interest is charged at 2.5% per annum after the first year.

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank Loans 8,333 10,000

Amounts falling due between two and five years:
Other loans - 2-5 years - 8,333

PREMIUM CAR PARKS LTD (REGISTERED NUMBER: 11461247)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 21,757 24,440
Between one and five years 18,444 26,443
40,201 50,883

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Other timing differences 237 -
Accelerated capital allowance 17,734 10,577
17,971 10,577

Deferred
tax
£   
Balance at 1 August 2023 10,577
Provided during year 7,394
Balance at 31 July 2024 17,971

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
12,000 Ordinary Class A 0.001 12 12
1,200 Ordinary Class B 0.001 1 1
2,400 Ordinary Class C 0.001 2 2
15 15

14. POST BALANCE SHEET EVENTS

On 9th December 2024, an Enterprise Management Incentive Plan was established.

PREMIUM CAR PARKS LTD (REGISTERED NUMBER: 11461247)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


15. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £70,091 (2023 - £87,318) .

Contributions totalling £3,036 (2023 - £1,856) were payable to the fund at the balance sheet date and are included in creditors.