Perfect Glaze Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 03496204 (England and Wales)

Financial Statements

for the Year Ended 31 March 2022

for

Perfect Glaze Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A S Bhudia

Mr M Bhudia

REGISTERED OFFICE:

Maple House

382 Kenton Road

Harrow

Middlesex

HA3 9DP

REGISTERED NUMBER:

03496204 (England and Wales)

ACCOUNTANTS:

KBMD Limited

Chartered Certified Accountants

Maple House

382 Kenton Road

Harrow

Middlesex

HA3 9DP

FIXED ASSETS

Tangible assets

4

19,713

24,641

CURRENT ASSETS

Stocks

248,591

113,218

Debtors

5

458,842

373,974

Investments

113,310

113,310

Cash at bank and in hand

86,904

39,189

907,647

639,691

CREDITORS

Amounts falling due within one year

(531,223

)

(292,778

)

NET CURRENT ASSETS

376,424

346,913

TOTAL ASSETS LESS CURRENT LIABILITIES

396,137

371,554

CREDITORS

Amounts falling due after more than one year

(40,798

)

(48,500

)

NET ASSETS

355,339

323,054

CAPITAL AND RESERVES

Called up share capital

1,143

1,143

Retained earnings

354,196

321,911

SHAREHOLDERS' FUNDS

355,339

323,054

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2022 and were signed on its behalf by:

Mr A S Bhudia - Director

1.	STATUTORY INFORMATION

Perfect Glaze 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.

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

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2021 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2021

and 31 March 2022

294,044

DEPRECIATION

At 1 April 2021

269,403

Charge for year

4,928

At 31 March 2022

274,331

NET BOOK VALUE

At 31 March 2022

19,713

At 31 March 2021

24,641

5.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

140,000

140,000

Other debtors

789

789

140,789

140,789

6.	RELATED PARTY DISCLOSURES

Long term trade debtors balance of £140,000 is made up of Perfect Glaze (PVT) India Ltd a subsidiary of Perfect Glaze Limited.

Amounts due from subsidiary balance of £789 is made up of long term loans made to Perfect Glaze (PVT) India Ltd of £1,388, long term loans made to Perfect Group International Ltd of £400 and amounts due to Global Hardware Distributors Limited of £1,000.