Company registration number:
06332217
PREMIER POTATOES (UK) LIMITED
Unaudited filleted statement of accounts
31 July 2024
PREMIER POTATOES (UK) LIMITED
Contents
Directors and other information
Balance sheet
Notes to the Statement of Accounts
PREMIER POTATOES (UK) LIMITED
Directors and other information
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Directors |
Mr Richard Montague |
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Mrs Susan Montague |
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Company number |
06332217 |
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Registered office |
Abingdale |
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1 Stone Road Hill, Chorlton |
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Newcastle-under-Lyme |
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Staffordshire |
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ST5 5DR |
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PREMIER POTATOES (UK) LIMITED
Balance sheet
31 July 2024
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2024 |
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2023 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
154,794 |
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158,763 |
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Investments |
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6 |
210,566 |
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210,566 |
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_______ |
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_______ |
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365,360 |
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369,329 |
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Current assets |
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Debtors |
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7 |
11,171 |
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79,764 |
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Cash at bank and in hand |
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115,073 |
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34,575 |
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_______ |
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_______ |
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126,244 |
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114,339 |
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Creditors: amounts falling due |
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within one year |
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8 |
(
111,131) |
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(
61,525) |
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_______ |
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_______ |
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Net current assets |
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15,113 |
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52,814 |
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_______ |
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_______ |
Total assets less current liabilities |
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380,473 |
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422,143 |
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_______ |
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Net assets |
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380,473 |
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422,143 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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100 |
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100 |
Profit and loss account |
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380,373 |
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422,043 |
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_______ |
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_______ |
Shareholders funds |
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380,473 |
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422,143 |
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_______ |
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_______ |
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For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its Statement of Accounts for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of Statement of Accounts.
These Statement of Accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.
These Statement of Accounts were approved by the
board of directors
and authorised for issue on
28 April 2025
, and are signed on behalf of the board by:
Mr Richard Montague
Mrs Susan Montague
Director
Director
Company registration number:
06332217
PREMIER POTATOES (UK) LIMITED
Notes to the statement of accounts
Year ended 31 July 2024
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Abingdale, 1 Stone Road Hill, Chorlton, Newcastle-under-Lyme, Staffordshire, ST5 5DR.
2.
Statement of compliance
These Statement of Accounts have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The Statement of Accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The Statement of Accounts are prepared in sterling, which is the functional currency of the entity.
The financial statements cover PREMIER POTATOES (UK) LIMITED as an individual company.
The directors are of the opinion that the Company is well placed to manage its financial and other business risks satisfactorily, in order to continue to operate for the foreseeable future. The directors therefore consider it is 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 for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Debtors
Debtors are measured at transaction price, less any impairment.
Creditors
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.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
5
(2023:
5
).
7.
Debtors
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2024 |
2023 |
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£ |
£ |
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Trade debtors |
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2,672 |
76,479 |
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Other debtors |
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8,499 |
3,285 |
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_______ |
_______ |
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11,171 |
79,764 |
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_______ |
_______ |
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8.
Creditors: amounts falling due within one year
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2024 |
2023 |
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£ |
£ |
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Trade creditors |
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89,968 |
36,933 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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10,398 |
10,300 |
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Social security and other taxes |
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- |
2,189 |
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Other creditors |
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10,765 |
12,103 |
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_______ |
_______ |
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111,131 |
61,525 |
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_______ |
_______ |
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9.
Directors advances, credits and guarantees
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During the year the directors entered into the following advances and credits with the company: |
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2024 |
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Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
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£ |
£ |
£ |
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Mr Richard Montague |
(
1,989) |
6,096 |
4,107 |
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_______ |
_______ |
_______ |
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2023 |
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Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
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£ |
£ |
£ |
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Mr Richard Montague |
23,323 |
(
25,312) |
(
1,989) |
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_______ |
_______ |
_______ |
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10.
Related party transactions
Included within other debtors (2023: creditors) are directors loan accounts detailed in note 9. The loans are unsecured and repayable upon demand. Interest is charged at the official rate.The directors and shareholders received dividends from the company during the year of £37,600 (2023: £18,800).During the year the company made sales to a company controlled by the director of this company to the value of 11,504 (2023: £27,861) and purchases of £Nil (2023: Nil). At the year end the company was due £Nil (2023: £27,861) and owed £Nil (2023: £Nil) in respect of these transactions, and outstanding balances are shown within year end trade debtors.During the year the company received loans from this company of £40,135 (2023: £103,300) and made repayments of £40,037 (2023: £93,000). The outstanding balance of £10,398 is shown within other creditors at note 8 (2023: £10,300).This loan is unsecured, interest-free and repayable upon demand.