Premier Park Homes Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 04303373 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

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

6,808,373

6,815,109

6,808,373

6,815,109

CURRENT ASSETS

Stocks

2,350,540

1,999,553

Debtors

6

2,455,187

1,702,010

Cash at bank and in hand

206,691

711,240

5,012,418

4,412,803

CREDITORS

Amounts falling due within one year

7

2,055,398

1,091,883

NET CURRENT ASSETS

2,957,020

3,320,920

TOTAL ASSETS LESS CURRENT LIABILITIES

9,765,393

10,136,029

CREDITORS

Amounts falling due after more than one year

8

(777,820

)

(1,695,908

)

PROVISIONS FOR LIABILITIES

(1,162

)

-

NET ASSETS

8,986,411

8,440,121

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

8,986,409

8,440,119

SHAREHOLDERS' FUNDS

8,986,411

8,440,121

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 and authorised for issue on 22 December 2022 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.

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 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 (2021 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2021

and 31 March 2022

70,001

AMORTISATION

At 1 April 2021

and 31 March 2022

70,001

NET BOOK VALUE

At 31 March 2022

-

At 31 March 2021

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2021

6,815,880

72,234

6,888,114

Additions

-

916

916

Disposals

-

(32,108

)

(32,108

)

At 31 March 2022

6,815,880

41,042

6,856,922

DEPRECIATION

At 1 April 2021

12,710

60,295

73,005

Charge for year

911

2,115

3,026

Eliminated on disposal

-

(27,482

)

(27,482

)

At 31 March 2022

13,621

34,928

48,549

NET BOOK VALUE

At 31 March 2022

6,802,259

6,114

6,808,373

At 31 March 2021

6,803,170

11,939

6,815,109

Included in cost of land and buildings is freehold land of £ 6,667,629 (2021 - £ 6,667,629 ) which is not depreciated.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

34,241

53,013

Amounts owed by associates

567,100

672,879

Other debtors

1,853,846

976,118

2,455,187

1,702,010

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts

850,892

137,860

Trade creditors

183,955

193,658

Taxation and social security

572,408

545,592

Other creditors

448,143

214,773

2,055,398

1,091,883

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans

777,820

1,695,908

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.22

31.3.21

£

£

Bank loans

1,628,712

1,833,768

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2022 and 31 March 2021:

31.3.22

31.3.21

£

£

M Barney and S C Barney

Balance outstanding at start of year

714,829

1,919,875

Amounts advanced

2,036,067

1,851,853

Amounts repaid

(975,054

)

(3,056,899

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,775,842

714,829

The terms agreed are that the advances are repayable on demand and interest is to be charged on all advances at the official rate where the balance exceeds £10,000 at any time during the year.

Interest of £34,820 (2021 : £36,300) has been charged during the year.