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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
Directors Mr Richard Montague
Mrs Susan Montague
Company number 06332217
Registered office Abingdale
1 Stone Road Hill, Chorlton
Newcastle-under-Lyme
Staffordshire
ST5 5DR
PREMIER POTATOES (UK) LIMITED
Balance sheet
31 July 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 154,794 158,763
Investments 6 210,566 210,566
_______ _______
365,360 369,329
Current assets
Debtors 7 11,171 79,764
Cash at bank and in hand 115,073 34,575
_______ _______
126,244 114,339
Creditors: amounts falling due
within one year 8 ( 111,131) ( 61,525)
_______ _______
Net current assets 15,113 52,814
_______ _______
Total assets less current liabilities 380,473 422,143
_______ _______
Net assets 380,473 422,143
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 380,373 422,043
_______ _______
Shareholders funds 380,473 422,143
_______ _______
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:
- 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;
- 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 ).
5. Tangible assets
Freehold property Total
£ £
Cost
At 1 August 2023 and 31 July 2024 198,455 198,455
_______ _______
Depreciation
At 1 August 2023 39,692 39,692
Charge for the year 3,969 3,969
_______ _______
At 31 July 2024 43,661 43,661
_______ _______
Carrying amount
At 31 July 2024 154,794 154,794
_______ _______
At 31 July 2023 158,763 158,763
_______ _______
6. Investments
Other investments other than loans
£
Cost
At 1 August 2023 and 31 July 2024 210,566
_______
Impairment
At 1 August 2023 and 31 July 2024 -
_______
Carrying amount
At 31 July 2024 210,566
_______
At 31 July 2023 210,566
_______
7. Debtors
2024 2023
£ £
Trade debtors 2,672 76,479
Other debtors 8,499 3,285
_______ _______
11,171 79,764
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 89,968 36,933
Amounts owed to group undertakings and undertakings in which the company has a participating interest 10,398 10,300
Social security and other taxes - 2,189
Other creditors 10,765 12,103
_______ _______
111,131 61,525
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Richard Montague ( 1,989) 6,096 4,107
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Richard Montague 23,323 ( 25,312) ( 1,989)
_______ _______ _______
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.