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REGISTERED NUMBER: 07336576 (England and Wales)











Premier Platforms Limited

Unaudited Financial Statements

for the Year Ended 31 August 2024






Premier Platforms Limited (Registered number: 07336576)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Premier Platforms Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: L R Farmer
G A O'Connor
Ms P Mackay
S T Hurford
Mrs D Farmer
L E Farmer
M Robinson





REGISTERED OFFICE: Platform House
Rolling Mill Road
Off Walsall Road
Norton Canes
Cannock
WS11 9HU





REGISTERED NUMBER: 07336576 (England and Wales)





ACCOUNTANTS: TC Group
Sterling House
97 Lichfield Street
Tamworth
Staffordshire
B79 7QF

Premier Platforms Limited (Registered number: 07336576)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 6,652,889 5,801,445

CURRENT ASSETS
Stocks 171,515 183,527
Debtors 5 1,671,045 1,700,344
Investments 6 748,957 625,206
Cash at bank and in hand 2,048,246 2,608,483
4,639,763 5,117,560
CREDITORS
Amounts falling due within one year 7 1,728,089 2,198,410
NET CURRENT ASSETS 2,911,674 2,919,150
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,564,563

8,720,595

CREDITORS
Amounts falling due after more than one
year

8

(2,045,632

)

(1,796,800

)

PROVISIONS FOR LIABILITIES (1,128,023 ) (981,995 )
NET ASSETS 6,390,908 5,941,800

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 6,390,808 5,941,700
SHAREHOLDERS' FUNDS 6,390,908 5,941,800

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 directors acknowledge their 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.

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 Board of Directors and authorised for issue on 8 May 2025 and were signed on its behalf by:




L R Farmer - Director


Premier Platforms Limited (Registered number: 07336576)

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


1. STATUTORY INFORMATION

Premier Platforms Limited 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.

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.

The financial statements have been prepared on a going concern basis which assumes that the company will continue to operate for the foreseeable future. The directors have compiled budgets and forecasts and have reasonable expectation that the company has adequate resources to continue operations for the foreseeable future. For this reason, they are continuing to adopt the going concern basis.

Significant judgements and estimates
The company makes estimates and assumptions concerning the future. Management are also required to exercise judgement in the process of applying the company's accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company either as a lessor or a lessee are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis based on an evaluation of the terms and conditions of the arrangements, and accordingly whether the lease requires an asset and liability to be recognised in the statement of financial position.

- A provision is recognised when the company has a present legal or constructive obligation as a result of a past event for which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. If the effect is material, provisions are determined by discounting the expected future cash flow at a rate that reflects the time value of money and the risks specific to the liability.

- Whether a present obligation is probable or not requires judgement. The nature and type of risks for these provisions differ and management's judgement is applied regarding the nature and extent of obligations in deciding if an outflow of resources is probable or not.

- Sales ledger debt provisions. Management review debts on a case by case basis to highlight deviation from terms and therefore possible provision requirement.

- Depreciation and residual values. Management have reviewed the asset lives and associated residual values of all fixed asset classes and concluded that they are appropriate.

The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projects disposal values.

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

Turnover on hire is recognised at the end of each month or completion of contract (whichever occurs first) and for sale of equipment turnover is recognised on despatch.

Premier Platforms Limited (Registered number: 07336576)

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


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Plant and machinery15% straight line (less residual value)
Fixtures, fittings & equipment15% straight line
Motor vehicles10%-25% straight line
Leasehold improvementsstraight line over the period of the lease
Computer equipment25%-33% straight line


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

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are
measured initially at fair value, net of transaction costs, and are measured subsequently at
amortised cost using the effective interest method, less any impairment.

Creditors
Short-term 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.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without
penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that
mature in no more than three months from the date of acquisition and that are readily convertible to
known amounts of cash with insignificant risk of change in value.

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.

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.

Premier Platforms Limited (Registered number: 07336576)

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


2. ACCOUNTING POLICIES - continued

Investments
Investments are recognized initially at cost. Subsequently they are measured at fair value through statement of comprehensive income if the shares are publicly traded or can otherwise be measured reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 30 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 13,116,808
Additions 1,905,711
Disposals (623,720 )
At 31 August 2024 14,398,799
DEPRECIATION
At 1 September 2023 7,315,363
Charge for year 917,708
Eliminated on disposal (487,161 )
At 31 August 2024 7,745,910
NET BOOK VALUE
At 31 August 2024 6,652,889
At 31 August 2023 5,801,445


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,609,724 1,636,685
Other debtors 61,321 63,659
1,671,045 1,700,344

6. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments 748,957 625,206

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 687,910 771,366
Trade creditors 397,940 538,804
Taxation and social security 170,917 368,536
Other creditors 471,322 519,704
1,728,089 2,198,410

Premier Platforms Limited (Registered number: 07336576)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 1,091,517 1,444,787
Other creditors 954,115 352,013
2,045,632 1,796,800

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 687,910 771,366
Between one and five years 1,091,517 1,444,787
1,779,427 2,216,153

Non-cancellable operating leases
2024 2023
£    £   
Within one year 199,400 192,345
Between one and five years 237,257 327,028
436,657 519,373

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 1,192,644 440,016
Hire purchase contracts 1,779,427 2,216,153
2,972,071 2,656,169

Hire purchase liabilities and other loan creditors are secured on the assets to which they relate.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

12. RELATED PARTY DISCLOSURES

During the year the company had the following transactions with related parties:
L R Farmer & D Farmer Standard Life personal pension plan - Rental paid £26,200 (2023: £26,200). The balance outstanding relating to rent at the year end was £nil (2023: £nil).

At the year end the aggregate of amounts due to the directors of the company was £18,076 (2023: £145,144).

13. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr and Mrs Farmer as majority shareholders.