IRIS Accounts Production v25.1.4.42 04156927 director 1.3.24 28.2.25 28.2.25 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh041569272024-02-29041569272025-02-28041569272024-03-012025-02-28041569272023-02-28041569272023-03-012024-02-29041569272024-02-2904156927ns15:EnglandWales2024-03-012025-02-2804156927ns14:PoundSterling2024-03-012025-02-2804156927ns10:Director12024-03-012025-02-2804156927ns10:PrivateLimitedCompanyLtd2024-03-012025-02-2804156927ns10:SmallEntities2024-03-012025-02-2804156927ns10:AuditExempt-NoAccountantsReport2024-03-012025-02-2804156927ns10:SmallCompaniesRegimeForDirectorsReport2024-03-012025-02-2804156927ns10:SmallCompaniesRegimeForAccounts2024-03-012025-02-2804156927ns10:FullAccounts2024-03-012025-02-2804156927ns10:RegisteredOffice2024-03-012025-02-2804156927ns5:CurrentFinancialInstruments2025-02-2804156927ns5:CurrentFinancialInstruments2024-02-2904156927ns5:Non-currentFinancialInstruments2025-02-2804156927ns5:Non-currentFinancialInstruments2024-02-2904156927ns5:ShareCapital2025-02-2804156927ns5:ShareCapital2024-02-2904156927ns5:CapitalRedemptionReserve2025-02-2804156927ns5:CapitalRedemptionReserve2024-02-2904156927ns5:RetainedEarningsAccumulatedLosses2025-02-2804156927ns5:RetainedEarningsAccumulatedLosses2024-02-2904156927ns5:PlantMachinery2024-03-012025-02-2804156927ns5:PlantMachinery2024-02-2904156927ns5:FurnitureFittings2024-02-2904156927ns5:MotorVehicles2024-02-2904156927ns5:FurnitureFittings2024-03-012025-02-2804156927ns5:MotorVehicles2024-03-012025-02-2804156927ns5:PlantMachinery2025-02-2804156927ns5:FurnitureFittings2025-02-2804156927ns5:MotorVehicles2025-02-2804156927ns5:PlantMachinery2024-02-2904156927ns5:FurnitureFittings2024-02-2904156927ns5:MotorVehicles2024-02-2904156927ns5:WithinOneYearns5:CurrentFinancialInstruments2025-02-2804156927ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2904156927ns5:Non-currentFinancialInstruments2024-03-012025-02-28
REGISTERED NUMBER: 04156927 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

PREFERRED CHOICE LIMITED

PREFERRED CHOICE LIMITED (REGISTERED NUMBER: 04156927)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PREFERRED CHOICE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2025







DIRECTOR: P A Chick





REGISTERED OFFICE: Sterling House
27 Hatchlands Road
Redhill
Surrey
RH1 6RW





REGISTERED NUMBER: 04156927 (England and Wales)





ACCOUNTANTS: GBJ Financial Limited
Sterling House
27 Hatchlands Road
Redhill
Surrey
RH1 6RW

PREFERRED CHOICE LIMITED (REGISTERED NUMBER: 04156927)

BALANCE SHEET
28 FEBRUARY 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 17,342 40,318

CURRENT ASSETS
Debtors 5 64,481 96,937
Cash at bank and in hand 134,204 147,367
198,685 244,304
CREDITORS
Amounts falling due within one year 6 108,769 167,260
NET CURRENT ASSETS 89,916 77,044
TOTAL ASSETS LESS CURRENT
LIABILITIES

107,258

117,362

CREDITORS
Amounts falling due after more than one
year

7

3,901

14,806
NET ASSETS 103,357 102,556

CAPITAL AND RESERVES
Called up share capital 1 1
Capital redemption reserve 1 1
Retained earnings 103,355 102,554
SHAREHOLDERS' FUNDS 103,357 102,556

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

PREFERRED CHOICE LIMITED (REGISTERED NUMBER: 04156927)

BALANCE SHEET - continued
28 FEBRUARY 2025


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 June 2025 and were signed by:





P A Chick - Director


PREFERRED CHOICE LIMITED (REGISTERED NUMBER: 04156927)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025


1. STATUTORY INFORMATION

Preferred Choice 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 presentation currency of the financial statements is Pound Sterling (£) with all amounts rounded to the nearest pound (£).

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from insert detail is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to insert detail.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Interest receivable

Interest income is recognised using the effective interest method.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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


PREFERRED CHOICE LIMITED (REGISTERED NUMBER: 04156927)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


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.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.

The interest element of these obligations is charged to profit and loss over the relevant period The capital element of the future payments is treated as a liability.

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 2 (2024 - 6 ) .

4. TANGIBLE FIXED ASSETS
Office
equipment
Plant and and Motor
machinery furniture vehicles Totals
£    £    £    £   
COST
At 1 March 2024
and 28 February 2025 11,112 5,843 75,295 92,250
DEPRECIATION
At 1 March 2024 6,613 4,190 41,129 51,932
Charge for year 4,499 1,653 16,824 22,976
At 28 February 2025 11,112 5,843 57,953 74,908
NET BOOK VALUE
At 28 February 2025 - - 17,342 17,342
At 29 February 2024 4,499 1,653 34,166 40,318

PREFERRED CHOICE LIMITED (REGISTERED NUMBER: 04156927)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 61,067 84,199
Other debtors 3,414 12,738
64,481 96,937

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 10,397 10,140
Hire purchase contracts - 10,736
Trade creditors 71,186 58,204
Taxation and social security 20,516 35,734
Other creditors 6,670 52,446
108,769 167,260

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Bank loans 3,901 14,806

Bank loans are unsecured and denominated in Sterling with a nominal interest rate of 2.5%.

8. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Hire purchase contracts - 10,736

The hire purchase contracts are secured by the lessors' title to the asset which have a carrying value of Nil (2024: £34,166).