General Information
PREMIER CONTRACT SOLUTIONS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08521580, registration address Flat 606 Butterfly Court, 22 Mast Street, Barking, IG11 7FY.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Fixtures and Fittings |
20% Straight Line
|
| Computer Equipment |
20% Straight Line
|
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
| 2. |
Average number of employees
Average number of employees during the year was 4 (2024 : 4).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Fixtures and Fittings |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 January 2025 |
2,109 |
|
4,617 |
|
6,726 |
| Additions |
- |
|
- |
|
- |
| Disposals |
- |
|
- |
|
- |
| At 31 December 2025 |
2,109 |
|
4,617 |
|
6,726 |
| Depreciation |
| At 01 January 2025 |
2,109 |
|
3,488 |
|
5,597 |
| Charge for year |
- |
|
923 |
|
923 |
| On disposals |
- |
|
- |
|
- |
| At 31 December 2025 |
2,109 |
|
4,411 |
|
6,520 |
| Net book values |
| Closing balance as at 31 December 2025 |
- |
|
206 |
|
206 |
| Opening balance as at 01 January 2025 |
- |
|
1,129 |
|
1,129 |
|
| 4. |
Stocks
|
2025
£ |
|
2024
£ |
| Stocks |
212,697 |
|
281,498 |
|
212,697 |
|
281,498 |
|
| 5. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
62,588 |
|
8,742 |
| Other Debtors |
138,271 |
|
173,095 |
| VAT |
9,348 |
|
12,765 |
|
210,207 |
|
194,602 |
|
| 6. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
27,160 |
|
25,800 |
| Bank Loans & Overdrafts |
5,251 |
|
10,572 |
| Accrued Expenses |
1,800 |
|
3,334 |
| Other Creditors |
439,758 |
|
348,280 |
| Directors' Current Accounts |
263,407 |
|
267,003 |
|
737,376 |
|
654,989 |
|
| 7. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Bank Loans & Overdrafts |
- |
|
4,489 |
|
- |
|
4,489 |
|
|
Director loan accounts
At the reporting date, the company owed £263,407 (2024: £267,003) to the directors.
|
3
|