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2020-03-31
| Perfect Beginnings Limited |
| Registered Number:05018418 |
For the year ended 31 March 2020
England and Wales
Unaudited Financial Statements
2
Perfect Beginnings Limited
Statement of Financial Position
2019
2020
44,625
61,625
2
| Property, plant and equipment |
952,322
935,895
3
996,947
997,520
81,250
96,554
4
| Trade and other receivables |
11,499
27,098
5
62,187
| Cash and cash equivalents |
125,129
248,781
154,936
| Trade and other payables: amounts falling due within one |
| year |
(258,677)
(336,080)
6
(103,741)
(87,299)
Net current liabilities
| Total assets less current liabilities |
909,648
893,779
| Trade and other payables: amounts falling due after more |
| than one year |
(719,765)
(731,000)
7
(4,212)
(1,100)
| Provisions for liabilities |
174,436
Net assets
172,914
2
2
174,434
172,912
174,436
172,914
Shareholders' funds
| For the year ended 31 March 2020 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
| 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 proper 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 Section |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
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3
For the year ended 31 March 2020
Perfect Beginnings Limited
Statement of Financial Position Continued
| These financial statements were approved and authorised for issue by the Board on 18 March 2021 and were signed by: |
| The notes form part of these financial statements |
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4
For the year ended 31 March 2020
Perfect Beginnings Limited
Notes to the Financial Statements
Statutory Information
| Perfect Beginnings Limited is a private limited company, limited by shares, domiciled in England and Wales, |
| registration number 05018418. |
42-46 St Georges Street
Winchester
Hampshire
SO23 8BE
| The presentation currency is £ sterling. |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
| Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
| Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
| modified by the revaluation of certain assets. |
Revenue recognition
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Goodwill
| Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of 5 years. |
Intangible assets
| 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. |
Property, plant and equipment
| 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. |
Inventories
| 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. |
Deferred tax
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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5
For the year ended 31 March 2020
Perfect Beginnings Limited
Notes to the Financial Statements Continued
| 2. Intangible fixed assets |
Goodwill
301,540
307,147
5,607
307,147
301,540
5,607
245,522
239,915
5,607
17,000
17,000
-
Charge for year
262,522
256,915
5,607
44,625
44,625
-
61,625
-
61,625
| 3. Property, plant and equipment |
Motor vehicles
980,172
5,373
20,168
24,479
930,152
23,176
23,176
-
-
-
24,479
20,168
28,549
1,003,348
930,152
| Provision for depreciation and impairment |
44,277
3,273
18,668
22,336
-
Charge for year
6,749
5,838
375
536
-
51,026
9,111
19,043
22,872
-
930,152
1,607
1,125
19,438
952,322
930,152
2,143
1,500
2,100
935,895
2019
2020
96,554
81,250
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6
For the year ended 31 March 2020
Perfect Beginnings Limited
Notes to the Financial Statements Continued
| 5. Trade and other receivables |
2019
2020
27,098
11,499
| 6. Trade and other payables: amounts falling due within one year |
2019
2020
| Bank loans and overdraft (secured) |
20,846
51,769
131,925
46,122
| Taxation and social security |
67,994
60,523
115,315
100,263
336,080
258,677
| 7. Trade and other payables: amounts falling due after more than one year |
2019
2020
| Bank loans and overdraft (secured) |
648,000
636,765
83,000
83,000
731,000
719,765
| 8. Average number of persons employed |
During the year the average number of employees was 24 (2019 : 23)
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