Premier Sports Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05504926 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2018

FOR

PREMIER SPORTS SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R J Clark

SECRETARY:

R J Clark

REGISTERED OFFICE:

Suite 2

Fountain House

1a Elm Park

Stanmore

Middlesex

HA7 4AU

REGISTERED NUMBER:

05504926 (England and Wales)

ACCOUNTANTS:

Donald Jacobs & Partners

CHARTERED ACCOUNTANTS

Suite 2, Fountain House

1a Elm Park

Stanmore

Middlesex

HA7 4AU

FIXED ASSETS

Tangible assets

4

345,121

309,930

CURRENT ASSETS

Stocks

134,500

102,000

Debtors

5

318,205

249,636

Investments

6

12,500

12,500

Cash at bank

-

916

465,205

365,052

CREDITORS

Amounts falling due within one year

7

196,212

168,254

NET CURRENT ASSETS

268,993

196,798

TOTAL ASSETS LESS CURRENT LIABILITIES

614,114

506,728

CREDITORS

Amounts falling due after more than one year

8

(143,093

)

(100,799

)

PROVISIONS FOR LIABILITIES

(22,367

)

(15,679

)

NET ASSETS

448,654

390,250

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

9

78,394

78,394

Retained earnings

370,160

311,756

SHAREHOLDERS' FUNDS

448,654

390,250

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 10 January 2019 and were signed by:

R J Clark - Director

1.	STATUTORY INFORMATION

Premier Sports Solutions 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 as modified by the revaluation of certain assets.

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.

Freehold property

-

not provided, see note below

Office furniture & equipments

-

25% on reducing balance

Computer equipment

-

33% 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

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

Freehold property

No depreciation has been provided on Freehold Property since it is an investment property and the directors'

have valued the property at 31 July 2018 £335,200 (2017 : £300,000).

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Office

Freehold

furniture

Computer

property

& equipments

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1 August 2017

300,000

36,998

1,978

338,976

Additions

35,200

3,318

-

38,518

At 31 July 2018

335,200

40,316

1,978

377,494

DEPRECIATION

At 1 August 2017

-

27,259

1,787

29,046

Charge for year

-

3,264

63

3,327

At 31 July 2018

-

30,523

1,850

32,373

NET BOOK VALUE

At 31 July 2018

335,200

9,793

128

345,121

At 31 July 2017

300,000

9,739

191

309,930

Cost or valuation at 31 July 2018 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2018

35,200

-

35,200

Cost

300,000

42,294

342,294

335,200

42,294

377,494

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.18

31.7.17

£

£

Other debtors

318,205

249,636

6.	CURRENT ASSET INVESTMENTS

31.7.18

31.7.17

£

£

Unlisted investments

12,500

12,500

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.18

31.7.17

£

£

Bank loans and overdrafts

121,430

104,159

Taxation and social security

65,251

53,708

Other creditors

9,531

10,387

196,212

168,254

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.18

31.7.17

£

£

Bank loans

143,093

100,799

9.

RESERVES

Revaluation

reserve

£

At 1 August 2017

and 31 July 2018

78,394