Premier Kent Properties Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05700307 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

PREMIER KENT PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

G L Collins

N J Heath

M J Heath

REGISTERED OFFICE:

5 Mount Pleasant Road

Tunbridge Wells

Kent

TN1 1NT

REGISTERED NUMBER:

05700307 (England and Wales)

ACCOUNTANTS:

BSR Bespoke Chartered Accountants

Linden House

Linden Close

Tunbridge Wells

Kent

TN4 8HH

FIXED ASSETS

Tangible assets

4

14,141

9,992

CURRENT ASSETS

Debtors

5

36,900

39,192

Cash at bank and in hand

265,979

263,666

302,879

302,858

CREDITORS

Amounts falling due within one year

6

48,623

53,475

NET CURRENT ASSETS

254,256

249,383

TOTAL ASSETS LESS CURRENT LIABILITIES

268,397

259,375

CREDITORS

Amounts falling due after more than one year

7

31,250

46,250

NET ASSETS

237,147

213,125

CAPITAL AND RESERVES

Called up share capital

102

102

Retained earnings

237,045

213,023

237,147

213,125

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 13 November 2023 and were signed on its behalf by:

M J Heath - Director

G L Collins - Director

1.	STATUTORY INFORMATION

Premier Kent Properties 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 is recognised when it is probable that future economic benefits will flow to the company from the provision of services and is measured as the fair value of consideration which the company expects to receive from those transactions. Turnover is recognised in full as commission receivable when the conditions of the relevant agreement have been satisfied and when it is probable that no further services are required under agreement. Where further services are required, then part of the commission payable will be deferred until the additional service is performed or no further services are required and no amount is repayable. Turnover is recognised net of returns and of trade discounts and is shown exclusive of value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

33% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Financial instruments

Basic financial instruments are initially recognised at transaction price, unless the arrangement constitutes a

financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 11 (2022 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2022

4,370

8,547

12,597

25,514

Additions

-

6,827

2,182

9,009

At 31 March 2023

4,370

15,374

14,779

34,523

DEPRECIATION

At 1 April 2022

3,027

5,377

7,118

15,522

Charge for year

444

2,498

1,918

4,860

At 31 March 2023

3,471

7,875

9,036

20,382

NET BOOK VALUE

At 31 March 2023

899

7,499

5,743

14,141

At 31 March 2022

1,343

3,170

5,479

9,992

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

28,828

31,192

Other debtors

8,072

8,000

36,900

39,192

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

15,000

15,000

Trade creditors

6,337

5,712

Taxation and social security

21,831

28,753

Other creditors

5,455

4,010

48,623

53,475

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

31,250

46,250

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23

31.3.22

£

£

M J Heath

Balance outstanding at start of year

534

-

Amounts advanced

114

534

Amounts repaid

(534

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

114

534

G L Collins

Balance outstanding at start of year

560

-

Amounts advanced

-

560

Amounts repaid

(560

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

560

It is company policy that loans will be repaid within 9 months of the year end. The company charges interest on loans at the statutory rate on all loans exceeding £10,000.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Premier Kent Properties Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Premier Kent Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Premier Kent Properties Limited and state those matters that we have agreed to state to the Board of Directors of Premier Kent Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Premier Kent Properties Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Premier Kent Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Premier Kent Properties Limited. You consider that Premier Kent Properties 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 financial statements of Premier Kent Properties 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 financial statements.

BSR Bespoke Chartered Accountants

Linden House

Linden Close

Tunbridge Wells

Kent

TN4 8HH

4 December 2023