Premier Fuels Group Limited - Period Ending 2022-11-30
Premier Fuels Group Limited - Period Ending 2022-11-30
Registration number:
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Premier Fuels Group Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Premier Fuels Group Limited
Company Information
Chairman |
G N Lawton |
Director |
C Lawton |
Company secretary |
Mrs M Lawton |
Registered office |
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Accountants |
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Premier Fuels Group Limited
(Registration number: 06418603)
Balance Sheet as at 30 November 2022
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2021 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of Financial Reporting Standard 102 (FRS 102) Section 1A - small entities.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Premier Fuels Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. These financial statements show the results for the individual entity only.
The company's presentational currency is pound sterling (£). The accounts are rounded to the nearest whole pound.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Premier Fuels Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Financial instruments
Classification
Such assets are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities, including trade and other trade creditors, bank and other loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Recognition and measurement
Impairment
Financial assets are derecognised when a) the contractual rights to the cash flows from the asset expire or are settled, or b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Staff numbers |
The average number of persons employed by the company (excluding the director) during the year, was
Premier Fuels Group Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022
Investments |
2022 |
2021 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 December 2021 and at 30 November 2022 |
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Carrying amount |
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At 30 November 2022 |
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At 30 November 2021 |
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Debtors |
2022 |
2021 |
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Amounts owed by related parties |
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Share capital |
In 2020, share options were exercised under the Enterprise Management Incentive scheme over 5 C ordinary shares of 1 pence each at the option price of £5.35 per share. These shares were purchased by the company for £1,457.40 per share. At 30th November 2022, 2 options were outstanding under the scheme (2021:2).