Premier + Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02949985 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2017

for

Premier + Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Ms L F Cruickshank

SECRETARY:

J P Cruickshank Esq.

REGISTERED OFFICE:

119 The Hub

300 Kensal Road

London

W10 5BE

REGISTERED NUMBER:

02949985 (England and Wales)

ACCOUNTANT:

Hilton Consulting Limited

119 The Hub

300 Kensal Road

London

W10 5BE

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

3,990

5,320

3,990

5,320

CURRENT ASSETS

Debtors

6

707,164

770,658

Cash at bank and in hand

140,503

139,810

847,667

910,468

CREDITORS

Amounts falling due within one year

7

438,634

473,603

NET CURRENT ASSETS

409,033

436,865

TOTAL ASSETS LESS CURRENT LIABILITIES

413,023

442,185

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

413,021

442,183

SHAREHOLDERS' FUNDS

413,023

442,185

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 director acknowledges her 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 director on 11 October 2018 and were signed by:

Ms L F Cruickshank - Director

1.	STATUTORY INFORMATION

Premier + 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost and 15% on reducing balance

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.

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 transaction.

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2016 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2017

and 31 December 2017

6,500

AMORTISATION

At 1 January 2017

and 31 December 2017

6,500

NET BOOK VALUE

At 31 December 2017

-

At 31 December 2016

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

and 31 December 2017

94,039

DEPRECIATION

At 1 January 2017

88,719

Charge for year

1,330

At 31 December 2017

90,049

NET BOOK VALUE

At 31 December 2017

3,990

At 31 December 2016

5,320

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

604,631

706,466

Other debtors

19,103

7,500

Artist accounts

(384,621

)

(409,514

)

Directors' current accounts

356,639

358,794

Tax

89,699

89,699

Prepayments

21,713

17,713

707,164

770,658

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade creditors

56,646

66,892

Amounts owed to group undertakings

111,618

40,022

Tax

37,228

68,189

Social security and other taxes

10,155

14,373

VAT

61,887

65,439

Other creditors

130,259

175,018

Credit card

15,509

27,894

Pension creditor

305

397

Accrued expenses

15,027

15,379

438,634

473,603

8.	DIRECTOR'S 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

£

£

Ms L F Cruickshank

Balance outstanding at start of year

358,794

294,334

Amounts advanced

165,845

141,460

Amounts repaid

(168,000

)

(77,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

356,639

358,794

The above is in summary form. The loan has no fixed repayment date and interest is charged at the official rate.

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by the director, L F Cruickshank by virtue of the 100% shareholding held in the holding

company, Premier + Holdings Limited.