Company Registration No. 05441017 (England and Wales)
PREMIER VEHICLE CARE LIMITED
Unaudited accounts
for the year ended 31 May 2025
PREMIER VEHICLE CARE LIMITED
Unaudited accounts
Contents
PREMIER VEHICLE CARE LIMITED
Company Information
for the year ended 31 May 2025
Director
John Mark Grimmett
Company Number
05441017 (England and Wales)
Registered Office
PREMIER HOUSE
BENFIELD ROAD
NEWCASTLE UPON TYNE
NE6 5XA
Accountants
LRK Accounting & Bookkeeping Ltd
128 City Road
London
EC1V 2NX
PREMIER VEHICLE CARE LIMITED
Statement of financial position
as at 31 May 2025
Tangible assets
76,826
57,292
Cash at bank and in hand
39,611
(5,133)
Creditors: amounts falling due within one year
(256,525)
(265,853)
Net current (liabilities)/assets
(28,949)
20,459
Total assets less current liabilities
47,877
77,751
Creditors: amounts falling due after more than one year
(19,074)
(37,071)
Provisions for liabilities
Deferred tax
(15,179)
(14,327)
Called up share capital
1
1
Profit and loss account
13,623
26,352
Shareholders' funds
13,624
26,353
For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 July 2025 and were signed on its behalf by
John Mark Grimmett
Director
Company Registration No. 05441017
PREMIER VEHICLE CARE LIMITED
Notes to the Accounts
for the year ended 31 May 2025
PREMIER VEHICLE CARE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05441017. The registered office is PREMIER HOUSE, BENFIELD ROAD, NEWCASTLE UPON TYNE, NE6 5XA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% Straight Line
Plant & machinery
15% Reducing Balance
Motor vehicles
15% Reducing Balance
Fixtures & fittings
15% Reducing Balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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 accounts. 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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
PREMIER VEHICLE CARE LIMITED
Notes to the Accounts
for the year ended 31 May 2025
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through cash generated from operations and external borrowings. The company's forecasts and projections for the next 12 months show that the company should be able to continue in operational existence for that period, taking into account reasonable possible changes in trading performance.
Based on the factors set out above the director believes that it remains appropriate to prepare the financial statements on a going concern basis.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 June 2024
119,763
134,069
139,906
14,828
408,566
Additions
-
3,526
25,863
-
29,389
At 31 May 2025
119,763
137,595
165,769
14,828
437,955
At 1 June 2024
119,763
90,536
128,218
12,757
351,274
Charge for the year
-
6,583
2,922
350
9,855
At 31 May 2025
119,763
97,119
131,140
13,107
361,129
At 31 May 2025
-
40,476
34,629
1,721
76,826
At 31 May 2024
-
43,533
11,688
2,071
57,292
Amounts falling due within one year
Trade debtors
115,729
250,478
Accrued income and prepayments
10,884
-
Amounts falling due after more than one year
PREMIER VEHICLE CARE LIMITED
Notes to the Accounts
for the year ended 31 May 2025
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
33,571
34,000
Obligations under finance leases and hire purchase contracts
10,800
6,092
Trade creditors
116,893
141,002
Taxes and social security
38,378
41,646
Other creditors
13,988
12,756
Loans from directors
2,800
565
7
Creditors: amounts falling due after more than one year
2025
2024
Obligations under finance leases and hire purchase contracts
19,074
-
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan Account
(565)
50,383
49,818
-
9
Average number of employees
During the year the average number of employees was 16 (2024: 17).