Premier Property Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10470837 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

Premier Property Holdings Limited

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

Directors:

Mrs P E Webster

N B Webster

Secretary:

N B Webster

Registered office:

Abacus House

129 North Hill

Plymouth

Devon

PL4 8JY

Registered number:

10470837 (England and Wales)

Accountants:

Nigel Webster & Co

129 North Hill

Plymouth

Devon

PL4 8JY

Fixed assets

Investment property

4

190,000

115,913

Current assets

Debtors

5

32,682

272

Cash at bank

33,778

23,231

66,460

23,503

Creditors

Amounts falling due within one year

6

10,138

139,320

Net current assets/(liabilities)

56,322

(115,817

)

Total assets less current liabilities

246,322

96

Creditors

Amounts falling due after more than one year

7

(167,469

)

-

Provisions for liabilities

8

(14,100

)

-

Net assets

64,753

96

Capital and reserves

Called up share capital

9

100

100

Revaluation reserve

10

59,987

-

Retained earnings

4,666

(4

)

Shareholders' funds

64,753

96

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 December 2021 and were signed on its behalf by:

Mrs P E Webster - Director

1.	STATUTORY INFORMATION

Premier Property Holdings 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of 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 as modified by the revaluation of certain fixed assets.

The accounts have been prepared with the support of the directors.

Turnover

Turnover represents amounts due in respect of rents receivable as adjusted for amounts in arrears/received in advance at the balance sheet date.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

Cost or valuation

At 1 April 2020

115,913

Revaluations

74,087

At 31 March 2021

190,000

Net book value

At 31 March 2021

190,000

At 31 March 2020

115,913

Cost or valuation at 31 March 2021 is represented by:

£

Valuation in 2021

74,087

Cost

115,913

190,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

32,682

272

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other creditors

10,138

139,320

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Other creditors

167,469

-

8.	PROVISIONS FOR LIABILITIES

2021

2020

£

£

Deferred tax

14,100

-

Deferred

tax

£

Provided during year

14,100

Balance at 31 March 2021

14,100

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

Ordinary shares

£1.00

100

100

10.

RESERVES

Revaluation

reserve

£

Transfer of P&L reserves

59,987

At 31 March 2021

59,987

11.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed the following amounts:-

N & Mrs P Webster

shareholder & director

£81,385

J Webster

shareholder

£43,242

K Webster

shareholder

£42,842