Premier Moulding Machinery Limited 31/12/2024 iXBRL

Premier Moulding Machinery Limited

Filleted accounts

31 December 2024

Company registration number: 10543573

Premier Moulding Machinery Limited

Directors and other information


	Directors	C Edlund-Reeve
		J Reeve
		J C Reeve


	Company number	10543573


	Registered office	The Old Dairy
		12 Stephen Road
		Headington
		Oxford
		OX3 9AY


	Auditor	Cox Hinkins Audit Services Limited
		The Old Dairy
		12 Stephen Road
		Headington
		Oxford
		OX3 9AY

Premier Moulding Machinery Limited

Directors responsibilities statement

Year ended 31st December 2024

The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgments and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Premier Moulding Machinery Limited

Balance sheet

31st December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	5	158,263		144,065
		_______		_______
			158,263		144,065

Current assets
Stocks		732,167		669,285
Debtors	6	1,220,562		915,968
Cash at bank and in hand		1,962,786		1,995,904
		_______		_______
		3,915,515		3,581,157
Creditors: amounts falling due
within one year	7	( 2,497,721)		( 2,173,370)
		_______		_______
Net current assets			1,417,794		1,407,787
			_______		_______
Total assets less current liabilities			1,576,057		1,551,852


Provisions for liabilities	8		( 20,911)		( 17,891)

			_______		_______
Net assets			1,555,146		1,533,961
			_______		_______

Capital and reserves
Called up share capital	10		1		1
Profit and loss account			1,555,145		1,533,960
			_______		_______
Shareholders funds			1,555,146		1,533,961
			_______		_______

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 Profit & loss account has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 08 September 2025 , and are signed on behalf of the board by:

J C Reeve

Director

Company registration number: 10543573

Premier Moulding Machinery Limited

Notes to the financial statements

Year ended 31st December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Dairy, 12 Stephen Road, Headington, Oxford, OX3 9AY. There was no significant change in the company's principal activity during the year which continued to be the sale of precision moulding machinery and ancillaries.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on satisfactory installation of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is recognised when the service has been carried out in accordance with contracted terms, the amount of revenue can be measured reliably and it is probable that the associated economic benefits will flow to the entity.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:


Short leasehold property	-	10% Straight line per annum
Plant and machinery	-	25% Reducing balance per annum
Fittings fixtures and equipment	-	25% Reducing balance per annum
Motor vehicles	-	25% Reducing balance per annum
Tooling	-	25% Reducing balance per annum

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. Cost is calculated using the first in, first out formula. Provision is made for damaged, obsolete and slow moving stock where appropriate.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities. The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties. Financial assets that are measured at cost and amortised and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

4. Employee numbers

The company does not employ staff directly. All staff costs are recharged by fellow group companies.

5. Tangible assets

	Short leasehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Tooling	Total
	£	£	£	£	£	£
Cost
At 1st January 2024	51,916	46,784	45,996	27,307	23,885	195,888
Additions	6,581	12,909	14,179	14,000	-	47,669
Disposals	-	-	( 875)	-	-	( 875)
	_______	_______	_______	_______	_______	_______
At 31st December 2024	58,497	59,693	59,300	41,307	23,885	242,682
	_______	_______	_______	_______	_______	_______
Depreciation
At 1st January 2024	2,622	20,301	18,837	7,709	2,354	51,823
Charge for the year	5,817	7,999	7,736	6,358	5,383	33,293
Disposals	-	-	( 697)	-	-	( 697)
	_______	_______	_______	_______	_______	_______
At 31st December 2024	8,439	28,300	25,876	14,067	7,737	84,419
	_______	_______	_______	_______	_______	_______
Carrying amount
At 31st December 2024	50,058	31,393	33,424	27,240	16,148	158,263
	_______	_______	_______	_______	_______	_______
At 31st December 2023	49,294	26,483	27,159	19,598	21,531	144,065
	_______	_______	_______	_______	_______	_______

6. Debtors

	2024	2023
	£	£
Trade debtors	283,245	282,840
Amounts owed by group undertakings and undertakings in which the company has a participating interest	846	8,200
Other debtors	936,471	624,928
	_______	_______
	1,220,562	915,968
	_______	_______

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	1,245,803	1,061,416
Amounts owed to group undertakings and undertakings in which the company has a participating interest	445,571	538,407
Social security and other taxes	35,465	( 18)
Other creditors	770,882	573,565
	_______	_______
	2,497,721	2,173,370
	_______	_______

8. Provisions

	Deferred tax (note 9)	Total
	£	£
At 1st January 2024	17,891	17,891
Additions	3,020	3,020
	_______	_______
At 31st December 2024	20,911	20,911
	_______	_______

9. Deferred tax

The deferred tax included in the Balance sheet is as follows:

	2024	2023
	£	£
Included in provisions (note 8)	20,911	17,891
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	20,911	17,891
	_______	_______

10. Called up share capital

Issued, called up and fully paid

	2024		2023
	No	£	No	£
Ordinary shares of £ 1.00 each	1	1	1	1
	_______	_______	_______	_______

11. Operating leases

The company as lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:


	£	£

Not later than 1 year	31,250	31,250
Later than 1 year and not later than 5 years	20,833	52,083
	_______	_______
	52,083	83,333
	_______	_______

12. Contingent assets and liabilities

The company's bankers hold a charge over the assets of the company by way of security for anymonies which may become due from time to time. At 31st December 2024 the liability covered by this charge amounted to £Nil (2023: £Nil). The company's bankers hold an unlimited multilateral guarantee given by Data Plastics Limited and its trading subsidiaries which includes the company. At 31 December 2024, the liability covered by these charges amounted to £Nil (2023: £Nil).

13. Summary audit opinion

The auditor's report dated 08 September 2025 was unqualified.

The senior statutory auditor was Rodney Mark Morgan for and on behalf of Cox Hinkins Audit Services Limited

14. Controlling party

The company is under the control of Premier Plastics Holdings Ltd which owns 100% of the issued shares.

15. Ultimate parent undertaking

Data Plastics Limited, a company incorporated in England and Wales, is regarded by the directors as being the company's ultimate holding company and prepares consolidated accounts for the group.