Company No:
Contents
| Directors | C Dolan |
| S Dolan | |
| A Dolan (Appointed 31 July 2024) | |
| R Plunkett (Appointed 31 July 2024) |
| Registered office | Unit C10 Heathrow Corporate Park |
| Green Lane | |
| Hounslow | |
| TW4 6ER | |
| United Kingdom |
| Company number | 08139644 (England and Wales) |
| Accountant | Kreston Reeves LLP |
| 37 St Margarets Street | |
| Canterbury | |
| Kent | |
| CT1 2TU |
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 4 |
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| 46,596 | 46,942 | |||
| Current assets | ||||
| Stocks | 5 |
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| Debtors | 6 |
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| Cash at bank and in hand |
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| 3,107,746 | 2,444,596 | |||
| Creditors: amounts falling due within one year | 7 | (
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| Net current assets | 191,862 | 164,019 | ||
| Total assets less current liabilities | 238,458 | 210,961 | ||
| Creditors: amounts falling due after more than one year | 8 | (
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| Provision for liabilities | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 9 |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Premier Platform Lifts UK Limited (registered number:
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S Dolan
Director |
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.
Premier Platform Lifts UK 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 Unit C10 Heathrow Corporate Park, Green Lane, Hounslow, TW4 6ER, 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 £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
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.
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expenses in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
| Land and buildings |
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| Plant and machinery etc. |
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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.
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 Profit and Loss Account as described below.
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.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
The company has entered into a number of contracts in the year in relation to their principle activity which is that of providing lift solutions to both domestic and commercial customers. It is opinion of the directors that the contract is not completed until the installation is commissioned as the client is unable to use the product.
The directors have therefore estimated work in progress at the year end in relation to each contract and on commissioning release this cost along with the associated revenue to the statement of income and retained earnings.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Land and buildings | Plant and machinery etc. | Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 01 August 2023 |
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| Additions |
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| At 31 July 2024 |
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| Accumulated depreciation | |||||
| At 01 August 2023 |
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| Charge for the financial year |
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| At 31 July 2024 |
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| Net book value | |||||
| At 31 July 2024 |
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| At 31 July 2023 |
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| 2024 | 2023 | ||
| £ | £ | ||
| Work in progress |
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| £ | £ | ||
| Trade debtors |
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| Amounts owed by Group undertakings |
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| CIS suffered |
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| Other debtors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans |
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| Trade creditors |
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| Amounts owed to Group undertakings |
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| CIS withheld |
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| Taxation and social security |
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| Other creditors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans |
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| 2024 | 2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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| 100 | 100 |
At 30 July 2024, directors owed the company a balance of £121,852 (2023: £53,960)
All directors' remuneration paid by the company during the year was done so under normal market conditions.
The company is controlled by Premier Lift Group Limited by virtue of its majority shareholding.