Perfectionery Limited
Perfectionery Limited
Registered number: 08489372
Financial Statements
For the Period
1 May 2020
to
30 September 2021
Perfectionery Limited
Financial Statements
For the Period
1 May 2020
to
30 September 2021
Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Perfectionery Limited
Balance Sheet
As at
30 September 2021
Balance Sheet
Registered number:
08489372
For the period ending 30 September 2021 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 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.
| 30 September 2021 | 30 April 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 3 |
|
|
||
| Tangible Assets | 4 |
|
|
||
|
|
|
||||
| CURRENT ASSETS | |||||
| Stocks | 5 |
|
|
||
| Debtors | 6 |
|
|
||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year | 7 |
( |
( |
||
| NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
| Creditors: Amounts Falling Due After More Than One Year | 8 |
( |
( |
||
| NET LIABILITIES |
( |
( |
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
|
|
||
| Profit and Loss Account |
( |
( |
|||
| SHAREHOLDERS' FUNDS | (152,272) | (147,558) | |||
Perfectionery Limited
Balance Sheet (continued)
As at
30 September 2021
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
|
Director
|
|
|
The notes on pages 3 to 6 form part of these financial statements.
Perfectionery Limited
Notes to the Financial Statements
For the Period
1 May 2020
to
30 September 2021
Notes to the Financial Statements
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
1.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill was the amount paid in connection with the acquisition of the business in 2013 and 2017. Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
|
1.5.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.
Average Number of Employees
Average number of employees, including directors, during the period was as follows: 8 (2020: 6)
Perfectionery Limited
Notes to the Financial Statements (continued)
For the Period
1 May 2020
to
30 September 2021
3.
Intangible Assets
| Goodwill | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at
|
|
||
| As at
|
|
||
| Amortisation | |||
| As at
|
|
||
| Provided during the period |
|
||
| As at
|
|
||
| Net Book Value | |||
| As at
|
|
||
| As at
|
|
||
4.
Tangible Assets
| Fixtures & Fittings | |
|---|---|
| £ | |
| Cost | |
| As at
|
|
| Additions |
|
| As at
|
|
| Depreciation | |
| As at
|
|
| Provided during the period |
|
| As at
|
|
| Net Book Value | |
| As at
|
|
| As at
|
|
5.
Stocks
| 30 September 2021 | 30 April 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Stock - ingredients | 4,000 | 3,500 | |
|
|
|
||
Perfectionery Limited
Notes to the Financial Statements (continued)
For the Period
1 May 2020
to
30 September 2021
6.
Debtors
| 30 September 2021 | 30 April 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
|
|
|
| Rent deposit |
|
|
|
| VAT debtor |
|
|
|
|
|
|
||
7.
Creditors: Amounts Falling Due Within One Year
| 30 September 2021 | 30 April 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
|
|
|
| Other taxes and social security |
|
|
|
| Accruals and deferred income |
|
|
|
|
|
|
||
8.
Creditors: Amounts Falling Due After More Than One Year
| 30 September 2021 | 30 April 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
|
|
|
| Directors loan account |
|
|
|
|
|
|
||
10.
Related Party Transactions
As at 30 September 2021 a director had loaned the company £142,530 (2020: £160,530). This loan is unsecured, bears no interest, and has no fixed term.
Perfectionery Limited
Notes to the Financial Statements (continued)
For the Period
1 May 2020
to
30 September 2021
11.
General Information
Perfectionery Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
08489372
. The registered office is 255 Sharrow Vale Road, Sheffield, Yorks, S11 8ZE.