IRIS Accounts Production v25.1.0.734 06850491 director 1.9.23 31.8.24 31.8.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh068504912023-08-31068504912024-08-31068504912023-09-012024-08-31068504912022-08-31068504912022-09-012023-08-31068504912023-08-3106850491ns15:EnglandWales2023-09-012024-08-3106850491ns14:PoundSterling2023-09-012024-08-3106850491ns10:Director12023-09-012024-08-3106850491ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3106850491ns10:SmallEntities2023-09-012024-08-3106850491ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3106850491ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3106850491ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3106850491ns10:FullAccounts2023-09-012024-08-3106850491ns10:RegisteredOffice2023-09-012024-08-3106850491ns5:CurrentFinancialInstruments2024-08-3106850491ns5:CurrentFinancialInstruments2023-08-3106850491ns5:Non-currentFinancialInstruments2024-08-3106850491ns5:Non-currentFinancialInstruments2023-08-3106850491ns5:ShareCapital2024-08-3106850491ns5:ShareCapital2023-08-3106850491ns5:RetainedEarningsAccumulatedLosses2024-08-3106850491ns5:RetainedEarningsAccumulatedLosses2023-08-3106850491ns5:LandBuildingsns5:ShortLeaseholdAssets2023-09-012024-08-3106850491ns5:PlantMachinery2023-09-012024-08-3106850491ns5:FurnitureFittings2023-09-012024-08-3106850491ns5:MotorVehicles2023-09-012024-08-3106850491ns5:LandBuildings2023-08-3106850491ns5:LandBuildingsns5:ShortLeaseholdAssets2023-08-3106850491ns5:PlantMachinery2023-08-3106850491ns5:LandBuildings2023-09-012024-08-3106850491ns5:LandBuildings2024-08-3106850491ns5:LandBuildingsns5:ShortLeaseholdAssets2024-08-3106850491ns5:PlantMachinery2024-08-3106850491ns5:LandBuildings2023-08-3106850491ns5:LandBuildingsns5:ShortLeaseholdAssets2023-08-3106850491ns5:PlantMachinery2023-08-3106850491ns5:FurnitureFittings2023-08-3106850491ns5:MotorVehicles2023-08-3106850491ns5:FurnitureFittings2024-08-3106850491ns5:MotorVehicles2024-08-3106850491ns5:FurnitureFittings2023-08-3106850491ns5:MotorVehicles2023-08-3106850491ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3106850491ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3106850491ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-08-3106850491ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-08-3106850491ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-08-3106850491ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-08-3106850491ns5:Secured2024-08-3106850491ns5:Secured2023-08-31
REGISTERED NUMBER: 06850491 (England and Wales)















PREMIER ACCESS SOLUTIONS LTD

Unaudited Financial Statements for the Year Ended 31 August 2024






PREMIER ACCESS SOLUTIONS LTD (REGISTERED NUMBER: 06850491)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PREMIER ACCESS SOLUTIONS LTD

Company Information
for the Year Ended 31 August 2024







DIRECTOR: A M Broadhurst





REGISTERED OFFICE: 4/5 Middlemore Road
Smethwick
Birmingham
West Midlands
B21 0BZ





REGISTERED NUMBER: 06850491 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

PREMIER ACCESS SOLUTIONS LTD (REGISTERED NUMBER: 06850491)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 2,448,010 2,688,623
Investment property 5 935,446 825,446
3,383,456 3,514,069

CURRENT ASSETS
Stocks 1,299,902 1,367,688
Debtors 6 4,824,265 3,951,335
Investments 7 1,703,000 475,000
Cash at bank 38,342 -
7,865,509 5,794,023
CREDITORS
Amounts falling due within one year 8 6,630,150 5,104,719
NET CURRENT ASSETS 1,235,359 689,304
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,618,815

4,203,373

CREDITORS
Amounts falling due after more than one
year

9

(620,265

)

(614,148

)

PROVISIONS FOR LIABILITIES (206,369 ) (248,773 )
NET ASSETS 3,792,181 3,340,452

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 3,792,171 3,340,442
SHAREHOLDERS' FUNDS 3,792,181 3,340,452

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

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

The director acknowledges his 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.

PREMIER ACCESS SOLUTIONS LTD (REGISTERED NUMBER: 06850491)

Balance Sheet - continued
31 August 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 April 2025 and were signed by:





A M Broadhurst - Director


PREMIER ACCESS SOLUTIONS LTD (REGISTERED NUMBER: 06850491)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Premier Access Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Plant and machinery - at various rates on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


PREMIER ACCESS SOLUTIONS LTD (REGISTERED NUMBER: 06850491)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued
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 42 (2023 - 48 ) .

4. TANGIBLE FIXED ASSETS
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST
At 1 September 2023 1,248,185 300,602 3,418,977
Additions - - 39,316
At 31 August 2024 1,248,185 300,602 3,458,293
DEPRECIATION
At 1 September 2023 - 243,968 2,070,824
Charge for year - 19,107 253,081
At 31 August 2024 - 263,075 2,323,905
NET BOOK VALUE
At 31 August 2024 1,248,185 37,527 1,134,388
At 31 August 2023 1,248,185 56,634 1,348,153

PREMIER ACCESS SOLUTIONS LTD (REGISTERED NUMBER: 06850491)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 September 2023 106,330 60,401 5,134,495
Additions 5,440 - 44,756
At 31 August 2024 111,770 60,401 5,179,251
DEPRECIATION
At 1 September 2023 84,898 46,182 2,445,872
Charge for year 9,626 3,555 285,369
At 31 August 2024 94,524 49,737 2,731,241
NET BOOK VALUE
At 31 August 2024 17,246 10,664 2,448,010
At 31 August 2023 21,432 14,219 2,688,623

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 825,446
Additions 110,000
At 31 August 2024 935,446
NET BOOK VALUE
At 31 August 2024 935,446
At 31 August 2023 825,446

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,142,698 2,630,090
Other debtors 1,607,398 1,283,688
Prepayments 74,169 37,557
4,824,265 3,951,335

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Other 1,703,000 475,000

PREMIER ACCESS SOLUTIONS LTD (REGISTERED NUMBER: 06850491)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 10) 12,696 21,433
Hire purchase contracts 441,250 167,000
Trade creditors 3,135,371 2,584,509
Social security and other taxes 351,424 206,478
Other creditors 468,290 1,113,733
Invoice finance 2,167,502 941,221
Accrued expenses 53,617 70,345
6,630,150 5,104,719

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 10) 505,848 525,232
Hire purchase contracts 114,417 88,916
620,265 614,148

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 443,606 472,232

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 10,621
Bank loans 12,696 10,812
12,696 21,433

Amounts falling due between one and two years:
Bank loans - 1-2 years 13,752 11,710

Amounts falling due between two and five years:
Bank loans - 2-5 years 48,490 41,290

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 443,606 472,232

PREMIER ACCESS SOLUTIONS LTD (REGISTERED NUMBER: 06850491)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 10,621
Bank loans 518,544 536,044
Hire purchase contracts 555,667 255,916
Invoice finance 2,167,502 941,221
3,241,713 1,743,802

The hire purchase liability is secured on the asset to which the borrowing relates.

The bank loan is secured against the property to which it relates. The bank overdraft is secured by a debenture over the company's assets.

The invoice finance liability is secured against the trade debts of the company.