REGISTERED NUMBER: 06421317 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

PREMIER 1983 LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Consolidated Income Statement

9

Consolidated Other Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Cash Flow Statement

15

Notes to the Consolidated Cash Flow Statement

16

Notes to the Consolidated Financial Statements

17

DIRECTORS:

H M Byrne

K A McCreesh BA (Hons) ACA

K J Ord

SECRETARY:

K A McCreesh BA (Hons) ACA

REGISTERED OFFICE:

Premier Business Park

Dencora Way

Luton

Bedfordshire

LU3 3HP

REGISTERED NUMBER:

06421317 (England and Wales)

AUDITORS:

Ad Valorem Audit Services Limited

Chartered Certified Accountants

& Statutory Auditors

2 Manor Farm Court

Old Wolverton Road

Old Wolverton

Milton Keynes

Buckinghamshire

MK12 5NN

The directors present their strategic report of the company and the group for the year ended 31 March 2025.

REVIEW OF BUSINESS

This represents the seventeenth year of trading for the company, following the incorporation in 2007 of the business founded in 1983 by a director, Mr H M Byrne, which traded successfully under the name of Premier Computer Supplies and subsequently rebranded as Form I T Solutions. The directors are pleased with the trading result for the year which was achieved in continuing difficult market conditions.

The group achieved a profit after tax of £871,990 which has been added to reserves, representing an increase of 7.87% in the net assets of the company over the year. The directors consider that the financial position of the group remains strong and that the group will look to improve on these in somewhat unpredictable times ahead.

PRINCIPAL RISKS AND UNCERTAINTIES

The group's activities are in the fields of information technology and ancillary services. The group sells goods and services to a large number of industrial, commercial, government and private customers. The loss of any major customer is seen as a potential risk, but the directors are confident that, in the light of the group's strong marketing team, any lost sales would soon be replaced.

The group is not exposed to significant warranty risks as most products are sold with the manufacturer's warranty.

Where it is practicable and cost-effective to do so, the group insures against normal commercial risks, notably in the areas of public liability and employer's liability.

The risks to which the group is exposed are continually monitored by the directors, and steps are taken to mitigate and manage those risks where it is considered reasonable and practicable to do so.

The departure of the United Kingdom from the European Union has not had any significant effect on the group's business.

The Covid-19 global pandemic has necessitated significant changes in the group's operating procedures to minimise the health risks to the group's staff, suppliers and customers. The group's staff have responded well to these changes and the directors consider that trading results will not be significantly affected in the long term.

KEY PERFORMANCE INDICATORS

Turnover:

2023 - £20.38m

2024 - £17.54m

2025 - £16.69m

Profit after taxation:

2023 - £1,274,487

2024 - £1,377,724

2025 - £871,990

ON BEHALF OF THE BOARD:

H M Byrne - Director

30 December 2025

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2025.

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2025.

RESEARCH AND DEVELOPMENT

The group does not undertake any research and development activities.

FUTURE DEVELOPMENTS

The group's sales and marketing teams continue to explore future potential areas of trading.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

H M Byrne

K A McCreesh BA (Hons) ACA

K J Ord

Other changes in directors holding office are as follows:

T S Kintas ceased to be a director after 31 March 2025 but prior to the date of this report.

Qualifying third party indemnity insurance is in place for the benefit of all directors and officers of the company.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors 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 group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

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

-	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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:

H M Byrne - Director

30 December 2025

Opinion

We have audited the financial statements of Premier 1983 Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2025 and of the group's 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In our process of identifying fraud risks we assessed events or conditions that indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud ("fraud risk factors") to determine how fraud risks are relevant to our audit. Based on the auditing standards we addressed two fraud risks that were relevant to our audit, in relation to revenue recognition and management override of controls. Based upon our analysis of fraud risk factors, we have not identified any additional fraud risks.

Our audit procedures included an evaluation of the design, implementation as well as the operating effectiveness of internal controls relevant to mitigate these risks. We also performed substantive audit procedures, including detailed testing of high risk journal entries and procedures to satisfy ourselves that revenue has been properly recognised in the financial statements in accordance with financial reporting standards and the Group's accounting policies. Through these procedures, we did not identify any material actual or suspected incidences of fraud.

We have evaluated facts and circumstances in order to assess laws and regulations relevant to the Group. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general and sector experience, through discussion with the Directors and other management (as required by auditing standards) and discussed with the Directors and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the Group is subject to laws and regulations that directly affect the financial statements including taxation and financial reporting (including related company legislation) and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the Group is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect:

- Employment legislation, reflecting the Group's workforce

- Health and safety regulation, reflecting the Group's production, distribution and operating processes

- Data privacy, reflecting the Group's management of personal and corporate data

- Environmental regulation, reflecting environmental impact restrictions, waste and contamination related to the Group's distribution and operating processes.

Auditing standards limit the required audit procedures to identify non-compliance with these regulations to enquiry of the Directors and other management and inspection of regulatory and legal correspondence, if any. Through these procedures we did not identify any material actual or suspected non-compliance in any of the above areas.

We note that our audit is not primarily designed to detect non-compliance with laws and regulations and the Directors and other management are responsible for such internal control as the Directors and other management of the Group determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to errors or fraud, including compliance with laws and regulations. Additionally, owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Darren Kerins FCCA (Senior Statutory Auditor)

for and on behalf of Ad Valorem Audit Services Limited

Chartered Certified Accountants

& Statutory Auditors

2 Manor Farm Court

Old Wolverton Road

Old Wolverton

Milton Keynes

Buckinghamshire

MK12 5NN

30 December 2025

TURNOVER

3

16,691,394

17,543,458

Cost of sales

12,906,081

13,149,127

GROSS PROFIT

3,785,313

4,394,331

Administrative expenses

3,008,252

2,848,258

777,061

1,546,073

Other operating income

116,762

12,000

OPERATING PROFIT

5

893,823

1,558,073

Interest receivable and similar income

357,764

365,406

1,251,587

1,923,479

Interest payable and similar expenses

6

18,029

9,759

PROFIT BEFORE TAXATION

1,233,558

1,913,720

Tax on profit

7

361,568

535,996

PROFIT FOR THE FINANCIAL YEAR

871,990

1,377,724

Profit attributable to:

Owners of the parent

871,990

1,377,724

PROFIT FOR THE YEAR

871,990

1,377,724

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

871,990

1,377,724

Total comprehensive income attributable to:

Owners of the parent

871,990

1,377,724

FIXED ASSETS

Intangible assets

9

627,000

836,000

Tangible assets

10

5,509,204

3,068,504

Investments

11

-

-

6,136,204

3,904,504

CURRENT ASSETS

Stocks

12

257,946

269,555

Debtors: amounts falling due within one year

13

4,159,096

3,173,847

Debtors: amounts falling due after more than one year

13

5,344,783

5,062,720

Cash at bank and in hand

1,195,416

1,689,884

10,957,241

10,196,006

CREDITORS

Amounts falling due within one year

14

5,106,822

3,003,751

NET CURRENT ASSETS

5,850,419

7,192,255

TOTAL ASSETS LESS CURRENT LIABILITIES

11,986,623

11,096,759

PROVISIONS FOR LIABILITIES

16

40,567

22,693

NET ASSETS

11,946,056

11,074,066

CAPITAL AND RESERVES

Called up share capital

17

500,000

500,000

Retained earnings

18

11,446,056

10,574,066

SHAREHOLDERS' FUNDS

11,946,056

11,074,066

The financial statements were approved by the Board of Directors and authorised for issue on 30 December 2025 and were signed on its behalf by:

H M Byrne - Director

FIXED ASSETS

Intangible assets

9

627,000

836,000

Tangible assets

10

99,767

133,090

Investments

11

100

100

726,867

969,190

CURRENT ASSETS

Stocks

12

257,946

269,555

Debtors: amounts falling due within one year

13

4,159,096

3,173,747

Debtors: amounts falling due after more than one year

13

10,747,803

8,011,676

Cash at bank and in hand

1,185,910

1,682,732

16,350,755

13,137,710

CREDITORS

Amounts falling due within one year

14

4,988,032

3,004,378

NET CURRENT ASSETS

11,362,723

10,133,332

TOTAL ASSETS LESS CURRENT LIABILITIES

12,089,590

11,102,522

PROVISIONS FOR LIABILITIES

16

15,112

22,693

NET ASSETS

12,074,478

11,079,829

CAPITAL AND RESERVES

Called up share capital

17

500,000

500,000

Retained earnings

18

11,574,478

10,579,829

SHAREHOLDERS' FUNDS

12,074,478

11,079,829

Company's profit for the financial year

994,649

1,380,372

The financial statements were approved by the Board of Directors and authorised for issue on 30 December 2025 and were signed on its behalf by:

H M Byrne - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

500,000

9,196,342

9,696,342

Changes in equity

Total comprehensive income

-

1,377,724

1,377,724

Balance at 31 March 2024

500,000

10,574,066

11,074,066

Changes in equity

Total comprehensive income

-

871,990

871,990

Balance at 31 March 2025

500,000

11,446,056

11,946,056

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

500,000

9,199,457

9,699,457

Changes in equity

Total comprehensive income

-

1,380,372

1,380,372

Balance at 31 March 2024

500,000

10,579,829

11,079,829

Changes in equity

Total comprehensive income

-

994,649

994,649

Balance at 31 March 2025

500,000

11,574,478

12,074,478

Cash flows from operating activities

Cash generated from operations

1

1,130,643

254,433

Interest paid

(18,029

)

(9,759

)

Tax paid

(422,539

)

(395,733

)

Net cash from operating activities

690,075

(151,059

)

Cash flows from investing activities

Purchase of tangible fixed assets

(2,507,964

)

(368,308

)

Sale of tangible fixed assets

200

-

Interest received

357,764

365,406

Net cash from investing activities

(2,150,000

)

(2,902

)

Cash flows from financing activities

New loans in year

1,013,115

-

Loan repayments in year

-

(988,119

)

Amount introduced by directors

1,074,458

520,225

Amount withdrawn by directors

(1,122,116

)

-

Net cash from financing activities

965,457

(467,894

)

Decrease in cash and cash equivalents

(494,468

)

(621,855

)

Cash and cash equivalents at beginning of year

2

1,689,884

2,311,739

Cash and cash equivalents at end of year

2

1,195,416

1,689,884

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

1,233,558

1,913,720

Depreciation charges

275,061

251,982

Loss on disposal of fixed assets

1,003

-

Deferred tax asset

-

(6,961

)

Finance costs

18,029

9,759

Finance income

(357,764

)

(365,406

)

1,169,887

1,803,094

Decrease in stocks

11,609

242,892

(Increase)/decrease in trade and other debtors

(1,267,312

)

4,632

Increase/(decrease) in trade and other creditors

1,216,459

(1,796,185

)

Cash generated from operations

1,130,643

254,433

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025

31/3/25

1/4/24

£

£

Cash and cash equivalents

1,195,416

1,689,884

Year ended 31 March 2024

31/3/24

1/4/23

£

£

Cash and cash equivalents

1,689,884

2,311,739

3.	ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

At 1/4/24

Cash flow

At 31/3/25

£

£

£

Net cash

Cash at bank and in hand

1,689,884

(494,468

)

1,195,416

1,689,884

(494,468

)

1,195,416

Debt

Debts falling due within 1 year

-

(1,013,115

)

(1,013,115

)

-

(1,013,115

)

(1,013,115

)

Total

1,689,884

(1,507,583

)

182,301

1.	STATUTORY INFORMATION

Premier 1983 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

BASIS OF CONSOLIDATION

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. lntercompany transactions and balances between group companies are therefore eliminated in full.

The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquirees identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Plant and machinery

-

25% on cost and 20% on reducing balance

Fixtures and fittings

-

25% on cost and 15% on reducing balance

Motor vehicles

-

25% on reducing balance and 25% on cost

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

FOREIGN CURRENCIES

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3.

TURNOVER

An analysis of turnover by class and geographical location has not been supplied as, in the opinion of the directors, this would be seriously prejudicial to the interests of the company.

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

1,473,895

1,460,505

Social security costs

160,528

160,528

Other pension costs

273,541

307,000

1,907,964

1,928,033

The average number of employees during the year was as follows:

2025

2024

Directors

4

4

Sales

5

5

Administration

28

27

37

36