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Registration number: 03453892

Premier Printers Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Premier Printers Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Premier Printers Limited

Company Information

Directors

Mr MJ Busson

Mr SJ Robinson

Registered office

C/o Hodson Lewis Limited
First Floor Abbotsgate House
Hollow Road
Bury St Edmunds
Suffolk
IP32 7FA

Accountants

Hodson Lewis Limited
Certified Accountants and Business Advisors
First Floor
Abbotsgate House
Hollow Road
Bury St Edmunds
Suffolk
IP32 7FA

 

Premier Printers Limited

(Registration number: 03453892)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

67,216

76,103

Current assets

 

Stocks

6

2,417

11,329

Debtors

7

100,444

105,437

Cash at bank and in hand

 

60,062

87,409

 

162,923

204,175

Creditors: Amounts falling due within one year

8

(226,559)

(258,568)

Net current liabilities

 

(63,636)

(54,393)

Total assets less current liabilities

 

3,580

21,710

Creditors: Amounts falling due after more than one year

8

(5,638)

(15,638)

Net (liabilities)/assets

 

(2,058)

6,072

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

(2,158)

5,972

Shareholders' (deficit)/funds

 

(2,058)

6,072

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 June 2025 and signed on its behalf by:
 

.........................................
Mr MJ Busson
Director

 

Premier Printers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/o Hodson Lewis Limited
First Floor Abbotsgate House
Hollow Road
Bury St Edmunds
Suffolk
IP32 7FA

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants in relation to CARF are included on an accruals model. These grants are presented within other operating income.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Premier Printers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Fixtures and fittings

25% reducing balance

Office equipment

25% reducing balance

Plant and machinery

25%/10% reducing balance

Factory improvements

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Premier Printers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Premier Printers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 7).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2023

4,000

4,000

At 30 November 2024

4,000

4,000

Amortisation

At 1 December 2023

4,000

4,000

At 30 November 2024

4,000

4,000

Carrying amount

At 30 November 2024

-

-

 

Premier Printers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2023

9,426

213,657

14,791

764,287

1,002,161

At 30 November 2024

9,426

213,657

14,791

764,287

1,002,161

Depreciation

At 1 December 2023

9,403

209,007

14,527

693,121

926,058

Charge for the year

12

1,588

66

7,221

8,887

At 30 November 2024

9,415

210,595

14,593

700,342

934,945

Carrying amount

At 30 November 2024

11

3,062

198

63,945

67,216

At 30 November 2023

23

4,650

264

71,166

76,103

Included within the net book value of land and buildings above is £11 (2023 - £23) in respect of freehold land and buildings.
 

 

Premier Printers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

6

Stocks

2024
£

2023
£

Other inventories

2,417

11,329

7

Debtors

Current

2024
£

2023
£

Trade debtors

3

94,757

Prepayments

10,679

10,530

Other debtors

89,762

150

 

100,444

105,437

 

Premier Printers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

10,000

10,000

Trade creditors

 

64,138

57,697

Taxation and social security

 

3,595

7,614

Accruals and deferred income

 

10,738

11,371

Other creditors

 

138,088

171,886

 

226,559

258,568

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

5,638

15,638

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

5,638

15,638

Current loans and borrowings

2024
£

2023
£

Other borrowings

10,000

10,000