REGISTERED NUMBER: SC206569 (Scotland)

Premier Automatics Limited

Financial Statements For The Year Ended 31 May 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J Wielewski

SECRETARY:

Mrs L Wielewski

REGISTERED OFFICE:

42 West Church Street

Buckie

Banffshire

AB56 1HL

REGISTERED NUMBER:

SC206569 (Scotland)

ACCOUNTANTS:

The Long Partnership

4 North Guildry Street

Elgin

Moray

IV30 1JR

BANKERS:

Bank of Scotland

21 East Church Street

Buckie

AB56 1EX

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

73,732

84,853

73,732

84,853

CURRENT ASSETS

Debtors

6

28,069

31,606

Cash at bank

455,217

461,411

483,286

493,017

CREDITORS

Amounts falling due within one year

7

41,852

40,767

NET CURRENT ASSETS

441,434

452,250

TOTAL ASSETS LESS CURRENT LIABILITIES

515,166

537,103

PROVISIONS FOR LIABILITIES

8

-

16,122

NET ASSETS

515,166

520,981

CAPITAL AND RESERVES

Called up share capital

9

5,100

5,100

Retained earnings

10

510,066

515,881

SHAREHOLDERS' FUNDS

515,166

520,981

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 January 2026 and were signed by:

Mr J Wielewski - Director

1.	STATUTORY INFORMATION

Premier Automatics Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 2017, is being amortised evenly over its estimated useful life of five 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.

Equipment

-

33% on cost, 25% on cost and 25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2024

and 31 May 2025

5,500

AMORTISATION

At 1 June 2024

and 31 May 2025

5,500

NET BOOK VALUE

At 31 May 2025

-

At 31 May 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Equipment

fittings

vehicles

Totals

£

£

£

£

COST

At 1 June 2024

254,880

17,843

95,409

368,132

Additions

16,045

-

-

16,045

At 31 May 2025

270,925

17,843

95,409

384,177

DEPRECIATION

At 1 June 2024

217,175

17,181

48,923

283,279

Charge for year

15,145

399

11,622

27,166

At 31 May 2025

232,320

17,580

60,545

310,445

NET BOOK VALUE

At 31 May 2025

38,605

263

34,864

73,732

At 31 May 2024

37,705

662

46,486

84,853

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Trade debtors

2,004

7,986

Other debtors

26,065

23,620

28,069

31,606

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Trade creditors

8,403

6,365

Taxation and social security

206

734

Other creditors

33,243

33,668

41,852

40,767

8.	PROVISIONS FOR LIABILITIES

31.5.25

31.5.24

£

£

Deferred tax

-

16,122

Deferred

tax

£

Balance at 1 June 2024

16,122

Provided during year

(16,122

)

Balance at 31 May 2025

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.25

31.5.24

value:

£

£

5,000

Ordinary A

1

5,000

5,000

100

Ordinary B

£1

100

100

5,100

5,100

10.

RESERVES

Retained

earnings

£

At 1 June 2024

515,881

Deficit for the year

(5,815

)

At 31 May 2025

510,066

11.	RELATED PARTY DISCLOSURES

As at 1 June 2024 the company owed the director £29,523. During the year the director met expenses amounting to £1,370 on behalf of the company. As at 31 May 2025 the company owed the director £30,893. This loan is interest free and has no fixed terms of repayment.