Premier Print & Promotions Limited Produce iXBRL abbreviated or dormant small company accounts for eFiling

COMPANY REGISTRATION NUMBER 02985837

PREMIER PRINT & PROMOTIONS LIMITED

UNAUDITED ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED

31 March 2015

LB GROUP

Chartered Accountants

Onslow House

62 Broomfield Road

Chelmsford

Essex

CM1 1SW

PREMIER PRINT & PROMOTIONS LIMITED

REPORT TO THE DIRECTOR ON THE PREPARATION OF THE

UNAUDITED STATUTORY ACCOUNTS OF PREMIER PRINT &

PROMOTIONS LIMITED

YEAR ENDED 31 MARCH 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Premier Print & Promotions Limited for the year ended 31 March 2015 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the director of Premier Print & Promotions Limited in accordance with the terms of our engagement letter dated 26 May 2015. Our work has been undertaken solely to prepare for your approval the abbreviated accounts of Premier Print & Promotions Limited and state those matters that we have agreed to state to him in this report in accordance with AAF 02/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Premier Print & Promotions Limited and its director for our work or for this report.

It is your duty to ensure that Premier Print & Promotions Limited has kept adequate accounting records and to prepare statutory abbreviated accounts that give a true and fair view of the assets, liabilities, financial position and profit of Premier Print & Promotions Limited. You consider that Premier Print & Promotions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the abbreviated accounts of Premier Print & Promotions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory abbreviated accounts.

LB GROUP Chartered Accountants

Onslow House 62 Broomfield Road Chelmsford Essex CM1 1SW

12 October 2015

PREMIER PRINT & PROMOTIONS LIMITED

ABBREVIATED BALANCE SHEET

31 March 2015

		2015		2014
Note		£	£	£
FIXED ASSETS	2
Intangible assets			256,578	276,555
Tangible assets			668,697	614,881
Investments			3,960	3,960
			----------	----------
			929,235	895,396
			----------	----------

CURRENT ASSETS

Stocks	17,540		13,233
Debtors	1,036,208		811,607
Cash at bank and in hand	6,325		131,099
	-------------		----------
	1,060,073		955,939
CREDITORS: Amounts falling due within one year	818,128		661,629
	-------------		----------
NET CURRENT ASSETS		241,945	294,310
		-------------	-------------
TOTAL ASSETS LESS CURRENT LIABILITIES		1,171,180	1,189,706

CREDITORS: Amounts falling due after more than one year	389,312	412,042
	-------------	-------------
	781,868	777,664
	-------------	-------------

CAPITAL AND RESERVES

Called-up equity share capital	3	400	500
Revaluation reserve		( 105,433)	( 161,433)
Other reserves		100	-
Profit and loss account		886,801	938,597
		----------	----------
SHAREHOLDERS' FUNDS		781,868	777,664
		----------	----------

For the year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved and signed by the director and authorised for issue on 12 October 2015 .

Mr J Marshall

Director

Company Registration Number: 02985837

PREMIER PRINT & PROMOTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 31 MARCH 2015

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold buildings, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill - betweeen 10 and 20 years straight line

Fixed assets

All fixed assets are initially recorded at cost. Depreciation is not provided on freehold buildings. This treatment is a departure from the requirements of the Companies Act concerning depreciation of fixed assets. However, the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the accounts to give a true and fair view. Depreciation is only one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be be separately identified or quantified.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery - between 20% and 50% straight line

Fixtures & Fittings - between 25% and 33% straight line

Motor Vehicles - 25% straight line

Other equipment - between 25% and 33% 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.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Pension costs

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.

Deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

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 the transaction. Exchange differences are taken into account in arriving at the operating profit.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Investments

Fixed asset investments are stated at cost less provision for permanent diminution in value.

Group accounts

The company is entitled to the exemption under section 398 of the Companies Act 2006 from the obligation to prepare group accounts.

2. FIXED ASSETS

Intangible Assets	Tangible Assets	Investments	Total
£	£	£	£

COST OR VALUATION

At 1 April 2014	339,540	805,929	3,960	1,149,429
Additions	–	1,070	–	1,070
Revaluation	–	56,000	–	56,000
	----------	----------	-------	-------------
At 31 March 2015	339,540	862,999	3,960	1,206,499
	----------	----------	-------	-------------

DEPRECIATION

At 1 April 2014	62,985	191,048	–	254,033
Charge for year	19,977	3,254	–	23,231
	---------	----------	----	----------
At 31 March 2015	82,962	194,302	–	277,264
	---------	----------	----	----------

NET BOOK VALUE

At 31 March 2015	256,578	668,697	3,960	929,235
	----------	----------	-------	----------
At 31 March 2014	276,555	614,881	3,960	895,396
	----------	----------	-------	----------

Holdings of 20% or more The company holds 20% or more of the share capital of the following companies: Company Country of Nature Shares Proportion subsidiary registration or of held of shares undertaking incorporation business class held Almalad Limited England Dormant Ordinary 100% company A to G shares The aggregate capital and reserves and the results of these undertakings for the last relevant financial year were as follows: Capital and reserves Profit for the year £ £ Almalad Limited 3,960 -

3. SHARE CAPITAL

Allotted, called up and fully paid:

	2015		2014
	No	£	No	£
Ordinary shares (2014 - 500) of £ 1 each	400	400	500	500
	----	----	----	----
	400	400	500	500
	----	----	----	----

During the year the company purchased 100 Ordinary shares from Mrs S Marshall for a total consideration of £70,000.

4. TRANSACTIONS WITH DIRECTORS

During the year the directors, Mr J Marshall and Mrs S Marshall received dividends of £109,000 (2014: £48,225) and £nil (2014: £32,150) respectively. The balances due from the directors at the year end were £59,131 (2014: £39,471) and £nil (2014: £1,060) respectively.

These amounts represent a non interest bearing loan and are repayable on demand.

5. CONTROL

Mr J Marshall is deemed to be the ultimate controlling party by virtue of his shareholding.