Registered number
02968558
Premierline Management Limited
Unaudited Filleted Accounts
31 December 2024
Premierline Management Limited
Registered number: 02968558
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,617 175,416
Investments 4 197,922 12,214
199,539 187,630
Current assets
Debtors 5 14,207 7,695
Cash at bank and in hand 4,918 4,584
19,125 12,279
Creditors: amounts falling due within one year 7 (172,503) (169,649)
Net current liabilities (153,378) (157,370)
Total assets less current liabilities 46,161 30,260
Creditors: amounts falling due after more than one year 8 (1,165) (2,451)
Provisions for liabilities (2,631) -
Net assets 42,365 27,809
Capital and reserves
Called up share capital 10 10
Profit and loss account 42,355 27,799
Shareholders' funds 42,365 27,809
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R Budden
Director
Approved by the board on 17 June 2025
Premierline Management Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
Turnover
The company has no turnover as its income is derived from rental income receivable during the year.
Investment properties
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment 15% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors/creditors
Debtors and creditors with no stated interest rate and receivable/payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2024 173,342 8,400 181,742
Disposals (173,342) - (173,342)
At 31 December 2024 - 8,400 8,400
Depreciation
At 1 January 2024 - 6,326 6,326
Charge for the year - 457 457
At 31 December 2024 - 6,783 6,783
Net book value
At 31 December 2024 - 1,617 1,617
At 31 December 2023 173,342 2,074 175,416
4 Investments
Other
investments
£
Cost
At 1 January 2024 12,214
Additions 173,342
Revaluation 12,366
At 31 December 2024 197,922
Investment properties are carried at fair value with gains/losses recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Investment properties' fair value could be measured reliably without undue cost or effort. At the year end the Director, Mr R Budden, has assessed the fair value of properties and this is reflected in the cumulative carring amount.
5 Debtors 2024 2023
£ £
Trade debtors - 1,370
Deferred tax asset - 648
Other debtors 14,207 5,677
14,207 7,695
6 Investments held as current assets 2024 2023
£ £
Fair value
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments 708 1,848
Unlisted investments 11,658 -
12,366 1,848
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1,273 1,236
Trade creditors 90 -
Taxation and social security costs 1,168 1,597
Other creditors 169,972 166,816
172,503 169,649
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,165 2,451
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Director (2,369) 10,626 (2,390) 5,867
Interest free, repayable on demand
(2,369) 10,626 (2,390) 5,867
10 Related party transactions
In the year, there were intercompany loans from/ (to) the following related close companies controlled by the director:
2024 2023
£ £
Phoenix Exeter Limited (165,817) (159,317)
(165,817) (159,317)
11 Other information
Premierline Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 Sandpiper Court
Harrington Lane
Exeter
Devon
EX4 8NS
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