Perfectly Green Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06136680 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

PERFECTLY GREEN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S F Allen

G O'Driscall

S J Hedgecock

SECRETARY:

Mrs J A Gibbs

REGISTERED OFFICE:

Unit 8 Ridgewood Industrial Park

Uckfield

East Sussex

TN22 5QE

REGISTERED NUMBER:

06136680 (England and Wales)

ACCOUNTANTS:

Watson Associates

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Tangible assets

4

65,934

10,362

CURRENT ASSETS

Stocks

238,940

262,223

Debtors

5

228,675

173,209

Cash at bank and in hand

83,522

18

551,137

435,450

CREDITORS

Amounts falling due within one year

6

(286,546

)

(257,113

)

NET CURRENT ASSETS

264,591

178,337

TOTAL ASSETS LESS CURRENT LIABILITIES

330,525

188,699

CREDITORS

Amounts falling due after more than one year

7

(71,100

)

(43,607

)

NET ASSETS

259,425

145,092

CAPITAL AND RESERVES

Called up share capital

9

111

100

Share premium

6,424

-

Retained earnings

252,890

144,992

SHAREHOLDERS' FUNDS

259,425

145,092

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 18 December 2019 and were signed on its behalf by:

S F Allen - Director

1.	STATUTORY INFORMATION

Perfectly Green 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.

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.

Critical accounting judgements and key sources of estimation uncertainty

No significant judgements have had to be made by management in preparing these financial

statements.

There were no key assumptions made concerning the future, and other key sources of estimation

uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the

carrying amounts of assets and liabilities within the next financial year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

33% on cost

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

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

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2018 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2018

63,037

14,162

48,224

125,423

Additions

8,850

2,630

56,565

68,045

Disposals

-

(950

)

-

(950

)

At 31 March 2019

71,887

15,842

104,789

192,518

DEPRECIATION

At 1 April 2018

62,781

8,324

43,956

115,061

Charge for year

1,660

3,157

6,706

11,523

At 31 March 2019

64,441

11,481

50,662

126,584

NET BOOK VALUE

At 31 March 2019

7,446

4,361

54,127

65,934

At 31 March 2018

256

5,838

4,268

10,362

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

202,087

152,347

Other debtors

26,588

20,862

228,675

173,209

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

1

9,206

Trade creditors

132,956

205,283

Taxation and social security

78,198

31,522

Other creditors

75,391

11,102

286,546

257,113

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

71,100

43,607

8.	FINANCIAL INSTRUMENTS

The company only enters into basic financial instruments transactions that result in the recognition of

the financial assets and liabilities like trade and other accounts receivable and payable, loans from

bank and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and

subsequently at the undiscounted amount of the cash or other consideration expected to be paid or

received; other debt instruments are initially measured at present value of the future payments and

subsequently at the amortised cost using the effective interest method

Financial assets that are measured at cost and amortised cost are assessed at the end of each

reporting period for objective evidence of impairment. If objective evidence of impairment is found, an

impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when

there is an enforceable right to set off the recognised amounts and there is no intention to settle on a

net basis or to realise the asset and settle the liability simultaneously.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

42

Ordinary A

£1

42

42

35

Ordinary B

£1

35

35

23

Ordinary D

£1

23

23

11

Ordinary C

£1

11

-

111

100

The following shares were issued during the year:

11 Ordinary C shares of £1 for cash of £ 6,435

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2019 and

31 March 2018:

2019

2018

£

£

G O'Driscall

Balance outstanding at start of year

-

-

Amounts advanced

6,435

-

Amounts repaid

(1,072

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,363

-

The loan was fully repaid within 9 months of the year end.

11.	RELATED PARTY DISCLOSURES

Challenge Packaging Limited

Challenge Packaging Limited is a related party due to S F Allen being a director and shareholder of

both companies.

Challenge Packaging Limited has charged the company £73,317 (2018: £79,919) for services

provided. At the balance sheet date, the amount due to Challenge Packaging was £837 (2018: £253).