Premier Park Homes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04303373 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2019

FOR

PREMIER PARK HOMES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M Barney

S C Barney

REGISTERED OFFICE:

13 Hursley Road

Chandlers Ford

Eastleigh

Hampshire

SO53 2FW

REGISTERED NUMBER:

04303373 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

6,826,216

6,834,200

6,826,216

6,834,200

CURRENT ASSETS

Stocks

2,507,343

2,156,736

Debtors

6

616,340

201,365

Cash at bank and in hand

36,070

424,778

3,159,753

2,782,879

CREDITORS

Amounts falling due within one year

7

2,091,108

1,041,185

NET CURRENT ASSETS

1,068,645

1,741,694

TOTAL ASSETS LESS CURRENT LIABILITIES

7,894,861

8,575,894

CREDITORS

Amounts falling due after more than one year

8

(1,019,783

)

(2,156,678

)

PROVISIONS FOR LIABILITIES

(1,389

)

(2,504

)

NET ASSETS

6,873,689

6,416,712

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

6,873,687

6,416,710

SHAREHOLDERS' FUNDS

6,873,689

6,416,712

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 13th December 2019 and were signed on its behalf by:

M Barney - Director

1.	STATUTORY INFORMATION

Premier Park Homes 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 Company 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" 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 represents income derived from the company's principal activities and is stated net of value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of ten 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.

Land and buildings

-

5% on cost and 1% on cost

Plant and machinery etc

-

25% on reducing balance

No depreciation is charged on land.

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 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2018

and 31st March 2019

70,001

AMORTISATION

At 1st April 2018

and 31st March 2019

70,001

NET BOOK VALUE

At 31st March 2019

-

At 31st March 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st April 2018

and 31st March 2019

6,815,880

72,234

6,888,114

DEPRECIATION

At 1st April 2018

9,978

43,936

53,914

Charge for year

910

7,074

7,984

At 31st March 2019

10,888

51,010

61,898

NET BOOK VALUE

At 31st March 2019

6,804,992

21,224

6,826,216

At 31st March 2018

6,805,902

28,298

6,834,200

Included in cost of land and buildings is freehold land of £ 6,667,629 (2018 - £ 6,667,629 ) which is not

depreciated.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

7,527

12,735

Amounts owed by associates

603,613

181,990

Other debtors

5,200

6,640

616,340

201,365

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans and overdrafts

1,259,774

156,160

Trade creditors

107,869

134,284

Taxation and social security

300,714

423,186

Other creditors

422,751

327,555

2,091,108

1,041,185

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans

1,019,783

2,156,678

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

31.3.18

£

£

Bank overdraft

120,538

-

Bank loans

2,159,019

2,312,838

2,279,557

2,312,838