Company registration number 01070741 (England and Wales)
PREMABERG MANUFACTURING LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
Affinia
The Octagon
Suite E2, 2nd Floor
Middleborough
Colchester
CO1 1TG
PREMABERG MANUFACTURING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
3 - 7
PREMABERG MANUFACTURING LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
103,898
86,530
Current assets
Stocks
678,611
992,410
Debtors
5
2,511,255
2,544,318
Cash at bank and in hand
1,390,088
1,393,012
4,579,954
4,929,740
Creditors: amounts falling due within one year
6
(543,471)
(851,642)
Net current assets
4,036,483
4,078,098
Total assets less current liabilities
4,140,381
4,164,628
Creditors: amounts falling due after more than one year
7
(850,204)
(479,129)
Provisions for liabilities
(11,263)
(18,270)
Net assets
3,278,914
3,667,229
Capital and reserves
Called up share capital
8
9,500
10,000
Capital redemption reserve
500
Profit and loss reserves
3,268,914
3,657,229
Total equity
3,278,914
3,667,229
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 14 August 2025 and are signed on its behalf by:
J Richardson
Director
Company registration number 01070741 (England and Wales)
PREMABERG MANUFACTURING LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2023
10,000
3,158,439
3,168,439
Year ended 31 December 2023:
Profit and total comprehensive income
-
-
582,790
582,790
Dividends
-
-
(84,000)
(84,000)
Balance at 31 December 2023
10,000
3,657,229
3,667,229
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
437,542
437,542
Dividends
-
-
(763,200)
(763,200)
Own shares acquired
-
-
(62,657)
(62,657)
Redemption of shares
8
500
500
Reduction of shares
8
(500)
-
(500)
Balance at 31 December 2024
9,500
500
3,268,914
3,278,914
PREMABERG MANUFACTURING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Premaberg Manufacturing Limited is a private company limited by shares incorporated in England and Wales. The registered office is Third Avenue, Bluebridge Industrial Estate, Halstead, Essex, England, CO9 2SX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Revenue comprises sales of goods provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.
When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
20% on cost
Plant and equipment
at varying rates on cost
Fixtures and fittings
at varying rates on cost
Motor vehicles
25% on cost
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.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.
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.
PREMABERG MANUFACTURING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Work in progress is recognised to the extent that no right to consideration exists for work at the balance sheet date. It is valued at the lower of cost and net realisable value.
2
Operating profit
2024
2023
Operating profit for the year is stated after charging:
£
£
Exchange losses
34,549
15,848
Research and development costs
2,268
-
Depreciation of owned tangible fixed assets
39,437
40,997
Profit on disposal of intangible assets
(1,000)
(450)
PREMABERG MANUFACTURING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
53
48
4
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2024
489,986
266,557
36,076
792,619
Additions
49,960
5,500
1,345
56,805
Disposals
(14,218)
(14,218)
At 31 December 2024
49,960
481,268
267,902
36,076
835,206
Depreciation and impairment
At 1 January 2024
427,511
242,502
36,076
706,089
Depreciation charged in the year
27,350
12,087
39,437
Eliminated in respect of disposals
(14,218)
(14,218)
At 31 December 2024
440,643
254,589
36,076
731,308
Carrying amount
At 31 December 2024
49,960
40,625
13,313
103,898
At 31 December 2023
62,475
24,055
86,530
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
896,025
1,372,637
Amounts owed by group undertakings
375,655
Other debtors
1,024,271
1,032,201
2,295,951
2,404,838
PREMABERG MANUFACTURING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5
Debtors
(Continued)
- 6 -
2024
2023
Amounts falling due after more than one year:
£
£
Trade debtors
215,304
139,480
Total debtors
2,511,255
2,544,318
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
177,450
248,578
Taxation and social security
238,519
234,764
Other creditors
127,502
368,300
543,471
851,642
A Debenture, dated 9th June 1987, is in place securing all monies due or becoming due to National Westminster Bank PLC.
All assets of the company secured an intercompany guarantee with all fellow group companies dated 26th March 1992.
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Amounts owed to group undertakings
850,204
479,129
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
9,500
10,000
9,500
10,000
9
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
PREMABERG MANUFACTURING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
9
Audit report information
(Continued)
- 7 -
Opinion
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Senior Statutory Auditor:
Oliver White
Statutory Auditor:
Affinia (Colchester)
Date of audit report:
14 August 2025
10
Financial commitments, guarantees and contingent liabilities
The company is registered with H M Customs and Excise as a member of a group for VAT purposes and as a result is jointly and severally liable on a continuing basis for amounts owing by any other member of that group in respect to unpaid VAT.
The company has entered into contract to buy and sell forward currencies amounting to nil (2023 - €1,252,930).
11
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
Total commitments
230,614
418,817
12
Parent company
The ultimate holding company, which is also the parent undertaking of the group of undertakings for which group accounts are drawn up and of which the company is a member, is Premaberg Holdings Limited, registered in England and Wales. Copies of the group accounts may be obtained from The Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ.
2024-12-312024-01-01falsefalsefalse14 August 2025CCH SoftwareCCH Accounts Production 2025.200No description of principal activityJ DurrantP BirlesonR WhitingJ D AlwisJ Richardson010707412024-01-012024-12-31010707412024-12-31010707412023-12-3101070741core:LeaseholdImprovements2024-12-3101070741core:PlantMachinery2024-12-3101070741core:FurnitureFittings2024-12-3101070741core:MotorVehicles2024-12-3101070741core:LeaseholdImprovements2023-12-3101070741core:PlantMachinery2023-12-3101070741core:FurnitureFittings2023-12-3101070741core:MotorVehicles2023-12-3101070741core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3101070741core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3101070741core:ShareCapital2024-12-3101070741core:ShareCapital2023-12-3101070741core:CapitalRedemptionReserve2024-12-3101070741core:CapitalRedemptionReserve2023-12-3101070741core:RetainedEarningsAccumulatedLosses2024-12-3101070741core:RetainedEarningsAccumulatedLosses2023-12-3101070741core:ShareCapital2022-12-3101070741core:CapitalRedemptionReserve2022-12-3101070741core:RetainedEarningsAccumulatedLosses2022-12-3101070741core:ShareCapitalOrdinaryShareClass12024-12-3101070741core:ShareCapitalOrdinaryShareClass12023-12-3101070741bus:Director52024-01-012024-12-3101070741core:RetainedEarningsAccumulatedLosses2023-01-012023-12-31010707412023-01-012023-12-3101070741core:RetainedEarningsAccumulatedLosses2024-01-012024-12-3101070741core:ShareCapital2024-01-012024-12-3101070741core:LeaseholdImprovements2024-01-012024-12-3101070741core:PlantMachinery2024-01-012024-12-3101070741core:FurnitureFittings2024-01-012024-12-3101070741core:MotorVehicles2024-01-012024-12-3101070741core:LeaseholdImprovements2023-12-3101070741core:PlantMachinery2023-12-3101070741core:FurnitureFittings2023-12-3101070741core:MotorVehicles2023-12-31010707412023-12-3101070741core:CurrentFinancialInstruments2024-12-3101070741core:CurrentFinancialInstruments2023-12-3101070741core:Non-currentFinancialInstruments2024-12-3101070741core:Non-currentFinancialInstruments2023-12-3101070741core:WithinOneYear2024-12-3101070741core:WithinOneYear2023-12-3101070741bus:OrdinaryShareClass12024-01-012024-12-3101070741bus:OrdinaryShareClass12024-12-3101070741bus:OrdinaryShareClass12023-12-3101070741bus:PrivateLimitedCompanyLtd2024-01-012024-12-3101070741bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3101070741bus:FRS1022024-01-012024-12-3101070741bus:Audited2024-01-012024-12-3101070741bus:Director12024-01-012024-12-3101070741bus:Director22024-01-012024-12-3101070741bus:Director32024-01-012024-12-3101070741bus:Director42024-01-012024-12-3101070741bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP