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 2020

FOR

PERFECTLY GREEN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S F Allen

G O'Driscoll

S J Hedgecock

SECRETARY:

Mrs H S Kennedy

REGISTERED OFFICE:

Unit 8 Ridgewood Industrial Park

Uckfield

East Sussex

TN22 5QE

REGISTERED NUMBER:

06136680 (England and Wales)

ACCOUNTANTS:

Watson Associates (Professional Services) Limited

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Tangible assets

4

54,529

65,934

Investments

5

100

-

54,629

65,934

CURRENT ASSETS

Stocks

325,203

238,940

Debtors

6

153,631

228,675

Cash at bank and in hand

109,813

83,522

588,647

551,137

CREDITORS

Amounts falling due within one year

7

(247,492

)

(286,546

)

NET CURRENT ASSETS

341,155

264,591

TOTAL ASSETS LESS CURRENT LIABILITIES

395,784

330,525

CREDITORS

Amounts falling due after more than one year

8

(49,303

)

(71,100

)

PROVISIONS FOR LIABILITIES

(8,697

)

-

NET ASSETS

337,784

259,425

CAPITAL AND RESERVES

Called up share capital

9

111

111

Share premium

6,424

6,424

Retained earnings

331,249

252,890

SHAREHOLDERS' FUNDS

337,784

259,425

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 and authorised for issue on 31 December 2020 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.

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.

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 15 (2019 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2019

71,887

15,842

104,789

192,518

Additions

1,350

5,824

2,505

9,679

At 31 March 2020

73,237

21,666

107,294

202,197

DEPRECIATION

At 1 April 2019

64,441

11,481

50,662

126,584

Charge for year

3,705

4,745

12,634

21,084

At 31 March 2020

68,146

16,226

63,296

147,668

NET BOOK VALUE

At 31 March 2020

5,091

5,440

43,998

54,529

At 31 March 2019

7,446

4,361

54,127

65,934

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

100

At 31 March 2020

100

NET BOOK VALUE

At 31 March 2020

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

132,762

202,087

Other debtors

20,869

26,588

153,631

228,675

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

-

1

Trade creditors

160,501

132,956

Taxation and social security

82,994

78,198

Other creditors

3,997

75,391

247,492

286,546

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

49,303

71,100

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

42

Ordinary A

£1

42

42

35

Ordinary B

£1

35

35

23

Ordinary D

£1

23

23

11

Ordinary C

£1

11

11

111

111

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2020 and 31 March 2019:

2020

2019

£

£

G O'Driscoll

Balance outstanding at start of year

5,363

-

Amounts advanced

-

6,435

Amounts repaid

(5,363

)

(1,072

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

5,363

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 £17,945 (2019: £73,317) for services provided. At the balance sheet date, the amount due to Challenge Packaging was £394 (2019: £837).

Grassmate Limited

Grassmate Limited is a 90% subsidiary of Perfectly Green Limited.

The amount due from Grassmate Limited, at the balance sheet date, to Perfectly Green Limited was £24,868, for purchases of stock in the normal course of business. This amount is included within trade

debtors.

During the year the Company invoiced Grassmate Limited £146,654 for stock sales in the normal course of business and £13,787 in management charges.