Registered Number 03134373
PREMIER MANAGEMENT PARTNERS LIMITED
Abbreviated Accounts
31 December 2014
Notes | 2014 | 2013 | |
---|---|---|---|
£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
|
|
Investments | 3 |
|
|
|
|
||
Current assets | |||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: amounts falling due within one year |
( |
( |
|
Net current assets (liabilities) |
( |
( |
|
Total assets less current liabilities |
|
( |
|
Creditors: amounts falling due after more than one year |
( |
( |
|
Total net assets (liabilities) |
|
( |
|
Capital and reserves | |||
Called up share capital | 4 |
|
|
Share premium account |
|
|
|
Profit and loss account |
( |
( |
|
Shareholders' funds |
|
( |
Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
The company has a net current liability of £246,715 (2013: £129,929) on the balance sheet and
sustained a loss of £309,048 (2013: £475,827) during the year. On the basis of current financial
projections and financial support available from the owners of the company, the directors are
confident that the company has adequate resources to continue in operational existence for the
foreseeable future and, accordingly, consider that it i s appropriate to adopt the going concern
basis in preparing the financial statements. The financial statements do not include any
adjustments that would result from a withdrawal of the financial support from the owners of the
company.
Turnover policy
exclusive of Value Added Tax.
In respect of long-term contracts and contracts for on-going services, turnover represents the
value of work done in the year, including estimates of amounts not invoiced. Turnover in
respect of long-term contracts and contracts for on-going services is recognised by reference to
the stage of completion.
Tangible assets depreciation policy
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value,
over the useful economic life of that asset as follows:
Plant & Machinery - 20% straight line
Other accounting policies
Financial instruments are classified and accounted for, according to the substance of the
contractual arrangement, as either financial assets, financial liabilities or equity instruments. An
equity instrument is any contract that evidences a residual interest in the assets of the company
after deducting all of its liabilities.
In the opinion of the directors, there is no controlling party.
At the balance sheet date, an amount of £106,476 (2013: £150,024) was due to S Truman. S
Truman is a director of the company. This loan is not secured and interest is charged at a rate of
6% per annum.
£ | |
---|---|
Cost | |
At 1 January 2014 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 31 December 2014 |
|
Depreciation | |
At 1 January 2014 |
|
Charge for the year |
|
On disposals |
|
At 31 December 2014 |
|
Net book values | |
At 31 December 2014 | 16,968 |
At 31 December 2013 | 17,952 |
3
Fixed assets Investments
White Label Management Limited - Dormant
London Residential Management Limited - Profits £65,127 (2013 £261,621) Reserves £677,423 (2013 £754,227)
Under the provision of section 248 of the Companies Act 1985 the company is exempt from
preparing consolidated accounts and has not done so, therefore the accounts show information
about the company as an individual entity.
During the year the company acquired 100% of the share capital of London Residential
Management Ltd by way of a share for share exchange.