Silverfin false false 31/10/2024 01/11/2023 31/10/2024 Alex James Wakeley 16/05/2016 Timothy James Wakeley 23/10/2003 30 April 2025 The principal activity of the Company during the financial year was that of supplying loft ladders. 04941576 2024-10-31 04941576 bus:Director1 2024-10-31 04941576 bus:Director2 2024-10-31 04941576 2023-10-31 04941576 core:CurrentFinancialInstruments 2024-10-31 04941576 core:CurrentFinancialInstruments 2023-10-31 04941576 core:ShareCapital 2024-10-31 04941576 core:ShareCapital 2023-10-31 04941576 core:RetainedEarningsAccumulatedLosses 2024-10-31 04941576 core:RetainedEarningsAccumulatedLosses 2023-10-31 04941576 core:FurnitureFittings 2023-10-31 04941576 core:ComputerEquipment 2023-10-31 04941576 core:FurnitureFittings 2024-10-31 04941576 core:ComputerEquipment 2024-10-31 04941576 bus:OrdinaryShareClass1 2024-10-31 04941576 2023-11-01 2024-10-31 04941576 bus:FilletedAccounts 2023-11-01 2024-10-31 04941576 bus:SmallEntities 2023-11-01 2024-10-31 04941576 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 04941576 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 04941576 bus:Director1 2023-11-01 2024-10-31 04941576 bus:Director2 2023-11-01 2024-10-31 04941576 core:FurnitureFittings 2023-11-01 2024-10-31 04941576 core:ComputerEquipment 2023-11-01 2024-10-31 04941576 2022-11-01 2023-10-31 04941576 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 04941576 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04941576 (England and Wales)

PREMIER LOFT LADDERS LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

PREMIER LOFT LADDERS LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

PREMIER LOFT LADDERS LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2024
PREMIER LOFT LADDERS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2024
DIRECTORS Alex James Wakeley
Timothy James Wakeley
SECRETARY Janet Mary Wakeley
REGISTERED OFFICE 2 Dawson Drive
Trimley St Mary
Felixstowe
Suffolk
IP11 0YW
United Kingdom
COMPANY NUMBER 04941576 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
PREMIER LOFT LADDERS LIMITED

BALANCE SHEET

As at 31 October 2024
PREMIER LOFT LADDERS LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 7,332 8,555
7,332 8,555
Current assets
Stocks 55,145 51,934
Debtors 4 52,171 154,312
Cash at bank and in hand 290,709 188,919
398,025 395,165
Creditors: amounts falling due within one year 5 ( 89,250) ( 143,553)
Net current assets 308,775 251,612
Total assets less current liabilities 316,107 260,167
Provision for liabilities 6 ( 1,393) ( 1,625)
Net assets 314,714 258,542
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 314,614 258,442
Total shareholders' funds 314,714 258,542

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Premier Loft Ladders Limited (registered number: 04941576) were approved and authorised for issue by the Board of Directors on 30 April 2025. They were signed on its behalf by:

Timothy James Wakeley
Director
PREMIER LOFT LADDERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
PREMIER LOFT LADDERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Premier Loft Ladders Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Dawson Drive, Trimley St Mary, Felixstowe, Suffolk, IP11 0YW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 November 2023 13,285 8,709 21,994
Additions 165 833 998
At 31 October 2024 13,450 9,542 22,992
Accumulated depreciation
At 01 November 2023 9,117 4,322 13,439
Charge for the financial year 1,042 1,179 2,221
At 31 October 2024 10,159 5,501 15,660
Net book value
At 31 October 2024 3,291 4,041 7,332
At 31 October 2023 4,168 4,387 8,555

4. Debtors

2024 2023
£ £
Trade debtors 47,436 149,779
Other debtors 4,735 4,533
52,171 154,312

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 26,201 22,047
Taxation and social security 16,834 55,371
Other creditors 46,215 66,135
89,250 143,553

6. Provision for liabilities

2024 2023
£ £
Deferred tax 1,393 1,625

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

The company was under the control of Mr T Wakeley throughout the current and previous year. Mr T Wakeley is the managing director and majority shareholder.

Amounts owed by the company to the Director are shown in the Creditors note above.

No further transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard FRS102 Section 1A (September 2015).