PREMIER MOTOR SALES (GLOUCESTERSHIRE) LIMITED

PREMIER MOTOR SALES (GLOUCESTERSHIRE) LIMITED - Company Information

2021-01-012021-12-312021-12-31false09736848PREMIER MOTOR SALES (GLOUCESTERSHIRE) LIMITED2022-07-07iso4217:GBPxbrli:pure097368482021-01-01097368482021-12-31097368482021-01-012021-12-31097368482019-09-01097368482020-12-31097368482019-09-012020-12-3109736848bus:SmallEntities2021-01-012021-12-3109736848bus:AuditExempt-NoAccountantsReport2021-01-012021-12-3109736848bus:AbridgedAccounts2021-01-012021-12-3109736848bus:PrivateLimitedCompanyLtd2021-01-012021-12-3109736848core:WithinOneYear2021-12-3109736848core:AfterOneYear2021-12-3109736848core:WithinOneYear2020-12-3109736848core:AfterOneYear2020-12-3109736848core:ShareCapital2021-12-3109736848core:SharePremium2021-12-3109736848core:RevaluationReserve2021-12-3109736848core:OtherReservesSubtotal2021-12-3109736848core:RetainedEarningsAccumulatedLosses2021-12-3109736848core:ShareCapital2020-12-3109736848core:SharePremium2020-12-3109736848core:RevaluationReserve2020-12-3109736848core:OtherReservesSubtotal2020-12-3109736848core:RetainedEarningsAccumulatedLosses2020-12-3109736848core:LandBuildings2021-12-3109736848core:PlantMachinery2021-12-3109736848core:Vehicles2021-12-3109736848core:FurnitureFittings2021-12-3109736848core:OfficeEquipment2021-12-3109736848core:NetGoodwill2021-12-3109736848core:IntangibleAssetsOtherThanGoodwill2021-12-3109736848core:ListedExchangeTraded2021-12-3109736848core:UnlistedNon-exchangeTraded2021-12-3109736848core:LandBuildings2020-12-3109736848core:PlantMachinery2020-12-3109736848core:Vehicles2020-12-3109736848core:FurnitureFittings2020-12-3109736848core:OfficeEquipment2020-12-3109736848core:NetGoodwill2020-12-3109736848core:IntangibleAssetsOtherThanGoodwill2020-12-3109736848core:ListedExchangeTraded2020-12-3109736848core:UnlistedNon-exchangeTraded2020-12-3109736848core:LandBuildings2021-01-012021-12-3109736848core:PlantMachinery2021-01-012021-12-3109736848core:Vehicles2021-01-012021-12-3109736848core:FurnitureFittings2021-01-012021-12-3109736848core:OfficeEquipment2021-01-012021-12-3109736848core:NetGoodwill2021-01-012021-12-3109736848core:IntangibleAssetsOtherThanGoodwill2021-01-012021-12-3109736848core:ListedExchangeTraded2021-01-012021-12-3109736848core:UnlistedNon-exchangeTraded2021-01-012021-12-3109736848core:MoreThanFiveYears2021-01-012021-12-3109736848core:Non-currentFinancialInstruments2021-12-3109736848core:Non-currentFinancialInstruments2020-12-3109736848dpl:CostSales2021-01-012021-12-3109736848dpl:DistributionCosts2021-01-012021-12-3109736848dpl:AdministrativeExpenses2021-01-012021-12-3109736848core:LandBuildings2021-01-012021-12-3109736848core:PlantMachinery2021-01-012021-12-3109736848core:Vehicles2021-01-012021-12-3109736848core:FurnitureFittings2021-01-012021-12-3109736848core:OfficeEquipment2021-01-012021-12-3109736848core:NetGoodwill2021-01-012021-12-3109736848core:IntangibleAssetsOtherThanGoodwill2021-01-012021-12-3109736848dpl:GroupUndertakings2021-01-012021-12-3109736848dpl:ParticipatingInterests2021-01-012021-12-3109736848dpl:GroupUndertakingscore:ListedExchangeTraded2021-01-012021-12-3109736848core:ListedExchangeTraded2021-01-012021-12-3109736848dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-01-012021-12-3109736848core:UnlistedNon-exchangeTraded2021-01-012021-12-3109736848dpl:CostSales2019-09-012020-12-3109736848dpl:DistributionCosts2019-09-012020-12-3109736848dpl:AdministrativeExpenses2019-09-012020-12-3109736848core:LandBuildings2019-09-012020-12-3109736848core:PlantMachinery2019-09-012020-12-3109736848core:Vehicles2019-09-012020-12-3109736848core:FurnitureFittings2019-09-012020-12-3109736848core:OfficeEquipment2019-09-012020-12-3109736848core:NetGoodwill2019-09-012020-12-3109736848core:IntangibleAssetsOtherThanGoodwill2019-09-012020-12-3109736848dpl:GroupUndertakings2019-09-012020-12-3109736848dpl:ParticipatingInterests2019-09-012020-12-3109736848dpl:GroupUndertakingscore:ListedExchangeTraded2019-09-012020-12-3109736848core:ListedExchangeTraded2019-09-012020-12-3109736848dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2019-09-012020-12-3109736848core:UnlistedNon-exchangeTraded2019-09-012020-12-3109736848core:NetGoodwill2021-12-3109736848core:IntangibleAssetsOtherThanGoodwill2021-12-3109736848core:LandBuildings2021-12-3109736848core:PlantMachinery2021-12-3109736848core:Vehicles2021-12-3109736848core:FurnitureFittings2021-12-3109736848core:OfficeEquipment2021-12-3109736848core:AfterOneYear2021-12-3109736848core:WithinOneYear2021-12-3109736848core:ListedExchangeTraded2021-12-3109736848core:UnlistedNon-exchangeTraded2021-12-3109736848core:ShareCapital2021-12-3109736848core:SharePremium2021-12-3109736848core:RevaluationReserve2021-12-3109736848core:OtherReservesSubtotal2021-12-3109736848core:RetainedEarningsAccumulatedLosses2021-12-3109736848core:NetGoodwill2020-12-3109736848core:IntangibleAssetsOtherThanGoodwill2020-12-3109736848core:LandBuildings2020-12-3109736848core:PlantMachinery2020-12-3109736848core:Vehicles2020-12-3109736848core:FurnitureFittings2020-12-3109736848core:OfficeEquipment2020-12-3109736848core:AfterOneYear2020-12-3109736848core:WithinOneYear2020-12-3109736848core:Listed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Registered Number
09736848
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2021

PREMIER MOTOR SALES (GLOUCESTERSHIRE) LIMITED

Company Information
for the year from 1 January 2021 to 31 December 2021


Directors	CAMERON, Craig William Lochiel
	ROBINSON, Guy Alexander


Registered Address	Unit 2a Rowanfield Road
	Cheltenham
	GL51 8PL


Registered Number	09736848 (England and Wales)

PREMIER MOTOR SALES (GLOUCESTERSHIRE) LIMITED

Balance Sheet as at
31 December 2021

	2021		2020
	£	£	£	£
Current assets
Stocks	203,961		215,470
Debtors	59,888		15,410
Cash at bank and on hand	8,905		29,788
	272,754		260,668
Creditors amounts falling due within one year	(292,413)		(278,335)
Net current assets (liabilities)		(19,659)		(17,667)
Total assets less current liabilities		(19,659)		(17,667)
Creditors amounts falling due after one year		(41,994)		(50,000)
Net assets		(61,653)		(67,667)
Capital and reserves
Called up share capital		100		100
Profit and loss account		(61,753)		(67,767)
Shareholders' funds		(61,653)		(67,667)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 7 July 2022, and are signed on its behalf by:

CAMERON, Craig William Lochiel
Director
Registered Company No. 09736848

PREMIER MOTOR SALES (GLOUCESTERSHIRE) LIMITED

Notes to the Financial Statements
for the year ended 31 December 2021

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Principal activities
	The principal activity of the company was that of used car retail sales.

4.	Accounting policies

	Stocks policy
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leases policy
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Going concern
	The accounts are prepared under the going concern assumption as the director's continue their support of the business.

5.	Employee information


		2021		2020
	Average number of employees during the year	3		3

6.	Description of capital commitments
	The company have an operating lease for equipment. The annual commitment is £2,232, the total future commitment is £2,790.

7.	Description of nature of transactions and balances with related parties
	The company used funding from SCA Motorsport and SCA Car Sales, businesses of which C Cameron is a proprietor, to purchase stock during the period, the funding is repaid on sale of that stock. The balance owed to SCA Motorsport and SCA Car Sales at the year end is £122,391 (2020 £167,880).