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COMPANY REGISTRATION NUMBER: 01407130
Premierise Limited
Filleted Unaudited Financial Statements
4 April 2025
Premierise Limited
Statement of Financial Position
4 April 2025
4 Apr 25
31 Mar 24
Note
£
£
£
Fixed assets
Tangible assets
4
310,449
Current assets
Debtors
5
142,343
73,366
Cash at bank and in hand
22,671
21,548
---------
--------
165,014
94,914
Creditors: amounts falling due within one year
6
2,134
6,282
---------
--------
Net current assets
162,880
88,632
---------
---------
Total assets less current liabilities
162,880
399,081
Creditors: amounts falling due after more than one year
7
163,994
---------
---------
Net assets
162,880
235,087
---------
---------
Capital and reserves
Called up share capital
1,000
1,000
Other reserves
181,949
Profit and loss account
161,880
52,138
---------
---------
Shareholders funds
162,880
235,087
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 4 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Premierise Limited
Statement of Financial Position (continued)
4 April 2025
These financial statements were approved by the board of directors and authorised for issue on 17 July 2025 , and are signed on behalf of the board by:
Mr J Fazackerley
Director
Company registration number: 01407130
Premierise Limited
Notes to the Financial Statements
Period from 1 April 2024 to 4 April 2025
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Lyndhurst, 1 Cranmer Street, Long Eaton, Nottingham, NG10 1NJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rent, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Tangible assets
Freehold property
Fixtures and fittings
Total
£
£
£
Cost or valuation
At 1 April 2024
310,000
999
310,999
Disposals
( 128,051)
( 999)
( 129,050)
Revaluations
( 181,949)
( 181,949)
---------
----
---------
At 4 April 2025
---------
----
---------
Depreciation
At 1 April 2024
550
550
Charge for the period
200
200
Disposals
( 750)
( 750)
---------
----
---------
At 4 April 2025
---------
----
---------
Carrying amount
At 4 April 2025
---------
----
---------
At 31 March 2024
310,000
449
310,449
---------
----
---------
Tangible assets held at valuation
The investment property was sold during the period. The property was previously valued at market value at 31 March 2021. The valuation was undertaken by a professional valuer- Solloway Property Consultants (RICS). The historical cost of the property was £128,051.
5. Debtors
4 Apr 25
31 Mar 24
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
72,828
72,128
Other debtors
69,515
1,238
---------
--------
142,343
73,366
---------
--------
6. Creditors: amounts falling due within one year
4 Apr 25
31 Mar 24
£
£
Bank loans and overdrafts
2,969
Social security and other taxes
334
1,113
Other creditors
1,800
2,200
-------
-------
2,134
6,282
-------
-------
Included within bank loans and overdrafts is a mortgage totalling £Nil (2024: £2,969) which was secured against the property to which it relates.
7. Creditors: amounts falling due after more than one year
4 Apr 25
31 Mar 24
£
£
Bank loans and overdrafts
163,994
----
---------
Included within bank loans and overdrafts is a mortgage totalling £Nil (2024: £163,994) which was secured against the property to which it relates. The amount owed between 2-5 years totals £Nil (2024: £13,858) and the amount owed after 5 years totals £Nil (2024: £150,136).
8. Fair value reserve
The following movements on the fair value reserve are included within other reserves in the statement of changes in equity:
4 Apr 25
31 Mar 24
£
£
At start of period
181,949
181,949
Reclassification from fair value reserve to profit and loss account
(181,949)
---------
---------
At end of period
181,949
---------
---------
9. Controlling party
The company is controlled by Premierise Holdings Limited, a company registered in England and Wales. The ultimate controlling party is Mr J Fazackerley .