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iso4217:GBP
| Perfect Beginnings Limited |
For the year ended 31 March 2014
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 05018418
2
| Abbreviated Balance Sheet |
Perfect Beginnings Limited
2014
2013
2
15,035
58,876
3
321,002
321,876
336,037
380,752
101,830
97,412
20,997
22,585
102,309
106,982
222,306
229,809
| Creditors: amounts falling due within one year |
4
(124,354)
(125,044)
105,455
97,262
Net current assets
| Total assets less current liabilities |
433,299
486,207
| Creditors: amounts falling due after more than one year |
5
(291,680)
(238,605)
(389)
(937)
| Provisions for liabilities |
194,305
Net assets
193,590
2
6
2
194,303
193,588
194,305
193,590
Shareholders funds
| For the year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
| Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; |
| 2) 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. |
| Date approved by the board: 15 January 2015 |
| Signed on behalf of the board of directors |
1 of 4
3
| Notes to the Abbreviated Financial Statements |
Perfect Beginnings Limited
For the year ended 31 March 2014
Turnover comprises the invoiced value of sales, net of Value Added Tax and trade discounts.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
| Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted. |
| Proposed dividends are only included as liabilities in the financial statements when their payment has been approved by the |
| shareholders prior to the balance sheet date. |
| The Director is aware that all dividends paid in excess of distributable reserves would be repayable to the company in the event |
| of the company being wound up. |
| Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. |
| Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated |
| expected useful economic life of the goodwill of 10 years. |
| Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Computer Equipment
Motor Vehicles
Fixtures and Fittings
| No depreciation is provided on the company's freehold properties since in the opinion of the directors the expected useful lives |
| are sufficiently long and the estimated residual values are sufficiently high that any such depreciation would be immaterial. The |
| directors undertake an annual impairment review of these properties. |
2 of 4
4
| Notes to the Abbreviated Financial Statements |
Perfect Beginnings Limited
For the year ended 31 March 2014
| Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
| 2 Intangible fixed assets |
222,147
222,147
163,271
43,841
Charge for year
207,112
15,035
58,876
360,852
2,570
363,422
38,976
3,444
Charge for year
42,420
321,002
321,876
2014
| 4 Creditors: amounts falling due within one year |
2013
46,644
46,644
Bank loans and overdrafts (secured)
2013
2014
| 5 Creditors due after more than one year |
238,605
291,680
Bank loans and overdrafts (secured)
3 of 4
5
| Notes to the Abbreviated Financial Statements |
Perfect Beginnings Limited
For the year ended 31 March 2014
| 1,000 Ordinary shares of £1.00 each |
| Allotted called up and fully paid |
2014
2013
| 2 Ordinary shares of £1.00 each |
2
2
2
2
4 of 4
