Premier Power Products Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03131572 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

Premier Power Products Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G R Trezise

M Ellis

SECRETARY:

M Ellis

REGISTERED OFFICE:

Radiant House

Cofton Road

Marsh Barton

Exeter

Devon

EX2 8QW

REGISTERED NUMBER:

03131572 (England and Wales)

ACCOUNTANTS:

Premier Accountancy and Probate Limited

Radiant House

Cofton Road

Exeter

Devon

EX2 8QW

FIXED ASSETS

Tangible assets

4

1,283,012

1,299,034

CURRENT ASSETS

Stocks

96,663

83,430

Debtors

5

437,786

1,057,727

Cash at bank and in hand

1,138,613

268,423

1,673,062

1,409,580

CREDITORS

Amounts falling due within one year

6

565,688

509,269

NET CURRENT ASSETS

1,107,374

900,311

TOTAL ASSETS LESS CURRENT LIABILITIES

2,390,386

2,199,345

PROVISIONS FOR LIABILITIES

34,755

45,132

NET ASSETS

2,355,631

2,154,213

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

7

179,717

180,726

Retained earnings

2,175,912

1,973,485

2,355,631

2,154,213

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 20 September 2018 and were signed on its behalf by:

M Ellis - Director

1.	STATUTORY INFORMATION

Premier Power Products 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

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

-

1% on straight line

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

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.

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 18 (2016 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2017

1,323,105

197,408

1,520,513

Additions

-

11,819

11,819

At 31 December 2017

1,323,105

209,227

1,532,332

DEPRECIATION

At 1 January 2017

89,467

132,012

221,479

Charge for year

13,697

14,144

27,841

At 31 December 2017

103,164

146,156

249,320

NET BOOK VALUE

At 31 December 2017

1,219,941

63,071

1,283,012

At 31 December 2016

1,233,638

65,396

1,299,034

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

428,390

470,167

Other debtors

9,396

587,560

437,786

1,057,727

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade creditors

399,734

404,131

Taxation and social security

96,779

89,792

Other creditors

69,175

15,346

565,688

509,269

7.

RESERVES

Revaluation

reserve

£

At 1 January 2017

180,726

Revaluation adjustment

(1,009

)

At 31 December 2017

179,717

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended

31 December 2017 and 31 December 2016:

31.12.17

31.12.16

£

£

G R Trezise

Balance outstanding at start of year

(207

)

7,055

Amounts advanced

7,144

40,110

Amounts repaid

(41,450

)

(47,372

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(34,513

)

(207

)

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G R Trezise.