The Premier Group (Coventry) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05125384 (England and Wales)

Financial Statements

for the Year Ended 31 March 2018

for

The Premier Group (Coventry) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D P Meagher

A Meagher

N Meagher

REGISTERED OFFICE:

Leofric House

Binley Road

Coventry

CV3 1JN

REGISTERED NUMBER:

05125384 (England and Wales)

FIXED ASSETS

Tangible assets

4

1,914,339

534,196

Investments

5

426,854

426,854

Investment property

6

745,000

745,000

3,086,193

1,706,050

CURRENT ASSETS

Debtors

7

42,758

20,400

Cash at bank

33,181

12,073

75,939

32,473

CREDITORS

Amounts falling due within one year

8

1,517,792

609,366

NET CURRENT LIABILITIES

(1,441,853

)

(576,893

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,644,340

1,129,157

CREDITORS

Amounts falling due after more than one year

9

(1,059,300

)

(216,348

)

PROVISIONS FOR LIABILITIES

11

(58,226

)

(58,226

)

NET ASSETS

526,814

854,583

CAPITAL AND RESERVES

Called up share capital

157,010

157,010

Revaluation reserve

12

232,906

232,906

Retained earnings

136,898

464,667

SHAREHOLDERS' FUNDS

526,814

854,583

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 on 4 October 2019 and were signed on its behalf by:

D P Meagher - Director

1.	STATUTORY INFORMATION

The Premier Group (Coventry) 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 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 as modified by the revaluation of certain assets.

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

-

Period of lease

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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.

Rental income

Other operating income represents rental income invoiced during the year, net of value added tax.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 1 ).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1 April 2017

534,196

Additions

1,380,143

At 31 March 2018

1,914,339

NET BOOK VALUE

At 31 March 2018

1,914,339

At 31 March 2017

534,196

Cost or valuation at 31 March 2018 is represented by:

Land and

buildings

£

Cost

1,914,339

If investment properties had not been revalued they would have been included at the following historical cost:

31.3.18

31.3.17

£

£

Cost

453,868

-

Value of land in freehold land and buildings

225,000

-

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2017

and 31 March 2018

426,854

NET BOOK VALUE

At 31 March 2018

426,854

At 31 March 2017

426,854

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2017

and 31 March 2018

745,000

NET BOOK VALUE

At 31 March 2018

745,000

At 31 March 2017

745,000

Included in fair value of investment property is freehold land of £ 225,000 (2017 - £ 225,000 ) which is not

depreciated.

Fair value at 31 March 2018 is represented by:

£

Valuation in 2012

221,132

Valuation in 2015

40,000

Valuation in 2017

30,000

Cost

453,868

745,000

If investment property had not been revalued it would have been included at the following historical cost:

31.3.18

31.3.17

£

£

Cost

453,868

453,868

Investment property was valued on an open market value basis on 17 March 2017 by Knight Frank .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

27,200

20,400

Other debtors

15,558

-

42,758

20,400

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans and overdrafts

88,425

38,000

Trade creditors

3,660

-

Amounts owed to group undertakings

1,414,807

550,222

Taxation and social security

-

9,764

Other creditors

10,900

11,380

1,517,792

609,366

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans

1,059,300

216,348

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

705,600

64,348

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.18

31.3.17

£

£

Bank loans

1,147,725

254,348

The bank loan is secured by a legal charge over the property known as 31 Brindley Road and 47 Bayton Road,

Exhall, Coventry as well as a legal charge over certain properties owned personally by the directors.

11.	PROVISIONS FOR LIABILITIES

31.3.18

31.3.17

£

£

Deferred tax

58,226

58,226

Deferred

tax

£

Balance at 1 April 2017

58,226

Provision on revalued amounts

Balance at 31 March 2018

58,226

12.

RESERVES

Revaluation

reserve

£

At 1 April 2017

and 31 March 2018

232,906

13.	CAPITAL COMMITMENTS

31.3.18

31.3.17

£

£

Contracted but not provided for in the

financial statements

-

606,799

14.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

15.	ULTIMATE CONTROLLING PARTY

The controlling party is D P Meagher.