Abbreviated Company Accounts - PREMIER FINANCIAL MANAGEMENT LTD

PREMIER FINANCIAL MANAGEMENT LTD - Company Information

03350242 PREMIER FINANCIAL MANAGEMENT LTD 2016-08-31 false 2015-09-01 2016-08-31 true 03350242 2015-09-01 2016-08-31 03350242 2016-08-31 03350242 2015-08-31 03350242 uk-gaap-cd-bus:Director1 2015-09-01 2016-08-31 03350242 uk-gaap-cd-bus:Director2 2015-09-01 2016-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-09-01 2016-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-08-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-08-31 iso4217:GBP shares

Registered Number 03350242

PREMIER FINANCIAL MANAGEMENT LTD

Abbreviated Accounts

31 August 2016

PREMIER FINANCIAL MANAGEMENT LTD Registered Number 03350242

Abbreviated Balance Sheet as at 31 August 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	56,859	72,805
		56,859	72,805
Current assets
Debtors		73,451	62,000
Investments		2,893,595	2,857,013
Cash at bank and in hand		604,275	86,579
		3,571,321	3,005,592
Creditors: amounts falling due within one year		(2,829,482)	(965,685)
Net current assets (liabilities)		741,839	2,039,907
Total assets less current liabilities		798,698	2,112,712
Total net assets (liabilities)		798,698	2,112,712
Capital and reserves
Called up share capital	3	2	2
Profit and loss account		798,696	2,112,710
Shareholders' funds		798,698	2,112,712

For the year ending 31 August 2016 the company was entitled to exemption 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.

Approved by the Board on 11 May 2017

And signed on their behalf by:
T. M. Jackson, Director

PREMIER FINANCIAL MANAGEMENT LTD Registered Number 03350242

Notes to the Abbreviated Accounts for the period ended 31 August 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention, in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and include the results of the company’s operations, which are described in the Directors Report, all of which are continuing

Turnover policy
Turnover represents commission received from insurance companies, with due provision being made for unearned indemnity commission.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation.

Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives at the following rates:-

Office Equipment 20% per annum reducing balance
Motor Vehicle 25% per annum reducing balance

Other accounting policies
Operating Leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to Profit and Loss Account as incurred

2Tangible fixed assets

	£
Cost
At 1 September 2015	152,330
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 August 2016	152,330
Depreciation
At 1 September 2015	79,525
Charge for the year	15,946
On disposals	-
At 31 August 2016	95,471
Net book values
At 31 August 2016	56,859
At 31 August 2015	72,805

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
209 A Ordinary shares of £0.01 each	2	2