Premain Limited - Accounts to registrar (filleted) - small 24.3

Premain Limited - Accounts to registrar (filleted) - small 24.3

PREMAIN LIMITED - Company Information

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REGISTERED NUMBER: 01448436 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PREMAIN LIMITED
David Rice Associates Ltd
Chartered Certified Accountants
4 Wellington Circus
Nottingham
Nottinghamshire
NG1 5AL








PREMAIN LIMITED (REGISTERED NUMBER: 01448436)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


PREMAIN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mr D P Icke
Mr D J Rice





REGISTERED OFFICE: 4 Wellington Circus
Nottingham
NG1 5AL





REGISTERED NUMBER: 01448436 (England and Wales)





ACCOUNTANTS: David Rice Associates Ltd
Chartered Certified Accountants
4 Wellington Circus
Nottingham
Nottinghamshire
NG1 5AL
Page 1
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PREMAIN LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Premain Limited for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Premain Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Premain Limited and state those matters that we have agreed to state to the Board of Directors of Premain Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Premain Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Premain Limited. You consider that Premain Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Premain Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






David Rice Associates Ltd
Chartered Certified Accountants
4 Wellington Circus
Nottingham
Nottinghamshire
NG1 5AL


5 March 2025

This page does not form part of the statutory financial statements

Page 2
PREMAIN LIMITED (REGISTERED NUMBER: 01448436)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,315,000 1,315,000

CURRENT ASSETS
Debtors 5 5,074 2,141
Cash at bank 46,763 79,155
51,837 81,296
CREDITORS
Amounts falling due within one year 6 44,473 58,201
NET CURRENT ASSETS 7,364 23,095
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,322,364
1,338,095

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Revaluation reserve 8 360,486 360,486
Retained earnings 960,878 976,609
SHAREHOLDERS' FUNDS 1,322,364 1,338,095

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2025 and were signed on its behalf by:





Mr D P Icke - Director


The notes form part of these financial statements

Page 3
PREMAIN LIMITED (REGISTERED NUMBER: 01448436)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Premain 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents gross rents receivable from tenants of freehold properties and income from the sale of properties. The company rents out investment properties. The turnover is recognised in the accounting period in which the services are rendered on an accruals basis.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Page 4 continued...
PREMAIN LIMITED (REGISTERED NUMBER: 01448436)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024
and 31 December 2024 1,315,000
NET BOOK VALUE
At 31 December 2024 1,315,000
At 31 December 2023 1,315,000

In the opinion of the directors the net book value of the investment properties as at the period end is a fair reflection of their market value. The historical cost of the investment properties was £954,514.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 5,074 2,141

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 14,323 18,989
Other creditors 30,150 39,212
44,473 58,201

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
750 Ordinary A shares £1 750 750
250 Ordinary B shares £1 250 250
1,000 1,000

8. RESERVES
Revaluation
reserve
£   
At 1 January 2024
and 31 December 2024 360,486

Page 5