Premier Stonehouse Ltd 12930270 false 2023-11-01 2024-10-31 2024-10-31 The principal activity of the company is the development of building projects. Digita Accounts Production Advanced 6.30.9574.0 true 12930270 2023-11-01 2024-10-31 12930270 2024-10-31 12930270 bus:Director1 1 2024-10-31 12930270 bus:Director2 1 2024-10-31 12930270 bus:OrdinaryShareClass1 2024-10-31 12930270 core:CurrentFinancialInstruments 2024-10-31 12930270 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 12930270 core:Non-currentFinancialInstruments core:AfterOneYear 2024-10-31 12930270 core:FurnitureFittingsToolsEquipment 2024-10-31 12930270 core:MotorVehicles 2024-10-31 12930270 bus:SmallEntities 2023-11-01 2024-10-31 12930270 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 12930270 bus:FilletedAccounts 2023-11-01 2024-10-31 12930270 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 12930270 bus:RegisteredOffice 2023-11-01 2024-10-31 12930270 bus:Director1 2023-11-01 2024-10-31 12930270 bus:Director1 1 2023-11-01 2024-10-31 12930270 bus:Director2 2023-11-01 2024-10-31 12930270 bus:Director2 1 2023-11-01 2024-10-31 12930270 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 12930270 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 12930270 core:FurnitureFittingsToolsEquipment 2023-11-01 2024-10-31 12930270 core:MotorVehicles 2023-11-01 2024-10-31 12930270 countries:England 2023-11-01 2024-10-31 12930270 2023-10-31 12930270 bus:Director1 1 2023-10-31 12930270 bus:Director2 1 2023-10-31 12930270 core:FurnitureFittingsToolsEquipment 2023-10-31 12930270 core:MotorVehicles 2023-10-31 12930270 2022-11-01 2023-10-31 12930270 2023-10-31 12930270 bus:OrdinaryShareClass1 2023-10-31 12930270 core:CurrentFinancialInstruments 2023-10-31 12930270 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 12930270 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 12930270 core:FurnitureFittingsToolsEquipment 2023-10-31 12930270 core:MotorVehicles 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Premier Stonehouse Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2024

Registration number: 12930270

 

Premier Stonehouse Ltd

Contents

Statement of financial position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Premier Stonehouse Ltd

(Registration number: 12930270)
Statement of financial position as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

17,501

23,395

Current assets

 

Stocks

5

84,000

111,321

Debtors

6

213,777

50,000

Cash at bank and in hand

 

45,334

194,769

 

343,111

356,090

Creditors: Amounts falling due within one year

7

(72,486)

(135,764)

Net current assets

 

270,625

220,326

Total assets less current liabilities

 

288,126

243,721

Creditors: Amounts falling due after more than one year

7

(9,190)

(15,317)

Provisions for liabilities

(3,325)

(4,143)

Net assets

 

275,611

224,261

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

275,609

224,259

Shareholders' funds

 

275,611

224,261

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income statement.

Approved and authorised by the Board on 9 May 2025 and signed on its behalf by:
 

.........................................
Mr J Lovelock
Director

 

Premier Stonehouse Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Lancasters Farm
Littleworth Lane
Partridge Green
West Sussex
RH13 8EJ

These financial statements were authorised for issue by the Board on 9 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Premier Stonehouse Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Premier Stonehouse Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

2,122

34,037

36,159

At 31 October 2024

2,122

34,037

36,159

Depreciation

At 1 November 2023

532

12,232

12,764

Charge for the year

443

5,451

5,894

At 31 October 2024

975

17,683

18,658

Carrying amount

At 31 October 2024

1,147

16,354

17,501

At 31 October 2023

1,590

21,805

23,395

 

Premier Stonehouse Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

5

Stocks

2024
£

2023
£

Work in progress

84,000

111,321

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

(3,791)

-

Amounts owed by related parties

9

-

50,000

Prepayments

 

5,037

-

Other debtors

 

212,531

-

   

213,777

50,000

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6,127

6,127

Trade creditors

 

47,998

29,316

Taxation and social security

 

15,761

69,052

Accruals and deferred income

 

2,600

31,269

 

72,486

135,764

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9,190

15,317

 

Premier Stonehouse Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

9

Related party transactions

Transactions with directors

2024

At 1 November 2023
£

Advances to director
£

At 31 October 2024
£

Mr D Trigg

Director loan repayable on demand. Interest rate of 2.25%

-

95,330

95,330

Mr J Lovelock

Director loan repayable on demand. Interest rate of 2.25%

-

111,856

111,856