Premier Office Supplies (UK) Ltd

Contents
	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 04177262

		2017		2016
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	3		26,444		35,258
Tangible Assets	4		583		1,231
Investments	5		4,000		4,000

			31,027		40,489
CURRENT ASSETS
Stocks	6	25,337		29,263
Debtors	7	544,260		209,454
Cash at bank and in hand		24,560		282,400

		594,157		521,117
Creditors: Amounts Falling Due Within One Year	8	(437,356 )		(263,495 )

NET CURRENT ASSETS (LIABILITIES)			156,801		257,622

TOTAL ASSETS LESS CURRENT LIABILITIES			187,828		298,111

Creditors: Amounts Falling Due After More Than One Year	9		(12,500 )		-

NET ASSETS			175,328		298,111

CAPITAL AND RESERVES
Called up share capital	11		220		220
Profit and Loss Account			175,108		297,891

SHAREHOLDERS' FUNDS			175,328		298,111

Page 1

Balance Sheet (continued)

As at 30 June 2017

For the year ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Paul Upton

29 March 2018

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2. Turnover

Turnover represents sales of goods net of Value Added Tax and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

1.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill being the amount paid in connection with the acquisition of businesses in 2001 and 2010, is being amortised evenly over their estimated useful lives of ten years.

1.4. Tangible Fixed Assets and Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its expected useful life.

Motor Vehicles	20% on cost
Fixtures & Fittings	25% on cost
Computer Equipment	25% on cost

1.6. Stocks and Work in Progress

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving items.

2. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2017	2016
Office and administration	6	6
Directors	2	2

	8	8

3. Intangible Assets

	Goodwill
	£
Cost
As at 1 July 2016	220,642

As at 30 June 2017	220,642

Amortisation
As at 1 July 2016	185,384
Provided during the period	8,814

As at 30 June 2017	194,198

Net Book Value
As at 30 June 2017	26,444

As at 1 July 2016	35,258

Page 3

Premier Office Supplies (UK) Ltd

Notes to the Unaudited Accounts (continued)

For The Year Ended 30 June 2017

4. Tangible Assets


	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 July 2016	4,135	10,654	28,127	42,916
Additions	-	-	651	651

As at 30 June 2017	4,135	10,654	28,778	43,567

Depreciation
As at 1 July 2016	4,135	10,654	26,896	41,685
Provided during the period	-	-	1,299	1,299

As at 30 June 2017	4,135	10,654	28,195	42,984

Net Book Value
As at 30 June 2017	-	-	583	583

As at 1 July 2016	-	-	1,231	1,231

5. Investments

	Unlisted
	£
Cost
As at 1 July 2016	4,000

As at 30 June 2017	4,000

Provision
As at 1 July 2016	-

As at 30 June 2017	-

Net Book Value
As at 30 June 2017	4,000

As at 1 July 2016	4,000

6. Stocks

	2017	2016
	£	£
Stock	25,337	29,263

	25,337	29,263

Page 4

Premier Office Supplies (UK) Ltd

Notes to the Unaudited Accounts (continued)

For The Year Ended 30 June 2017

7. Debtors

	2017	2016
	£	£
Due within one year
Trade debtors	287,179	191,073
Prepayments and accrued income	4,437	18,381
Amounts owed by group undertakings	252,644	-

	544,260	209,454

8. Creditors: Amounts Falling Due Within One Year

	2017	2016
	£	£
Trade creditors	173,708	152,990
Bank loans and overdrafts	222,681	-
Corporation tax	18,690	24,280
Other taxes and social security	19,527	20,977
Other creditors	-	117
Accruals and deferred income	2,750	3,446
Directors' loan accounts	-	61,685

	437,356	263,495

9. Creditors: Amounts Falling Due After More Than One Year

	2017	2016
	£	£
Bank loans	12,500	-

10. Secured Creditors

Of the creditors falling due within and after more than one year the following amounts are secured by fixed and floating charges over the Company's assets

	2017		2016
	£		£
Bank loans and overdrafts	235,181		-

Page 5

Premier Office Supplies (UK) Ltd

Notes to the Unaudited Accounts (continued)

For The Year Ended 30 June 2017

11. Share Capital

	Value	Number	2017	2016
Allotted, called up and fully paid	£		£	£
Ordinary A shares	1.00	100	100	100

Ordinary B shares	1.00	100	100	100

Ordinary C shares	1.00	10	10	10

Ordinary D shares	1.00	10	10	10




		220	220	220

12. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is Proco175 Ltd. Proco175 Ltd was incorporated in England & Wales. Copies of the group accounts may be obtained from the secretary, Suite 2b, Ribble Court, Shuttleworth Business Park, Padiham, Lancashire, BB12 7NG. The ultimate controlling parties are Tracey Earnshaw and Paul Richard Upton who control 100% of the shares of Proco175 Ltd

13. General Information

Premier Office Supplies (UK) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04177262. The registered office is Unit 1 Point 65 Business Centre, Greenbank Road, Blackburn, Lancashire, BB1 3EA.