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 2021

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

Intangible assets

4

20,600

-

Tangible assets

5

85,758

54,529

Investments

6

90

90

106,448

54,619

CURRENT ASSETS

Stocks

226,281

325,203

Debtors

7

176,531

153,631

Cash at bank and in hand

795,122

109,813

1,197,934

588,647

CREDITORS

Amounts falling due within one year

8

(667,807

)

(247,482

)

NET CURRENT ASSETS

530,127

341,165

TOTAL ASSETS LESS CURRENT LIABILITIES

636,575

395,784

CREDITORS

Amounts falling due after more than one year

9

(103,342

)

(49,303

)

PROVISIONS FOR LIABILITIES

(15,769

)

(8,697

)

NET ASSETS

517,464

337,784

CAPITAL AND RESERVES

Called up share capital

10

111

111

Share premium

6,424

6,424

Retained earnings

510,929

331,249

SHAREHOLDERS' FUNDS

517,464

337,784

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 9 September 2021 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

33% on cost

Fixtures and fittings

-

33% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the profit and loss account at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in "other income" within profit or loss in the same period as the related expenditure.'

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 16 (2020 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

20,600

At 31 March 2021

20,600

NET BOOK VALUE

At 31 March 2021

20,600

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2020

73,237

21,666

-

107,294

202,197

Additions

2,910

7,950

42,455

3,600

56,915

At 31 March 2021

76,147

29,616

42,455

110,894

259,112

DEPRECIATION

At 1 April 2020

68,146

16,226

-

63,296

147,668

Charge for year

3,775

3,406

5,650

12,855

25,686

At 31 March 2021

71,921

19,632

5,650

76,151

173,354

NET BOOK VALUE

At 31 March 2021

4,226

9,984

36,805

34,743

85,758

At 31 March 2020

5,091

5,440

-

43,998

54,529

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

42,455

At 31 March 2021

42,455

DEPRECIATION

Charge for year

5,650

At 31 March 2021

5,650

NET BOOK VALUE

At 31 March 2021

36,805

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2020

and 31 March 2021

90

NET BOOK VALUE

At 31 March 2021

90

At 31 March 2020

90

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

83,492

132,762

Amounts owed by group undertakings

10

-

Other debtors

93,029

20,869

176,531

153,631

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

49,517

-

Hire purchase contracts

12,485

-

Trade creditors

359,187

160,501

Taxation and social security

229,574

82,994

Other creditors

17,044

3,987

667,807

247,482

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

85,556

49,303

Hire purchase contracts

17,786

-

103,342

49,303

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

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

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2021 and 31 March 2020:

2021

2020

£

£

G O'Driscoll

Balance outstanding at start of year

-

5,363

Amounts repaid

-

(5,363

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

S F Allen

Balance outstanding at start of year

-

-

Amounts advanced

11,000

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

11,000

-

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

12.	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 £7,468 (2020: £17,945) for services provided. At the balance sheet date, the amount due to Challenge Packaging was £2,831 (2020: £394).

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 £3,228 (2020: £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 £421,056 (2020: £146,654) for stock sales in the normal course of business and £25,391 (2020: £13,787) in management charges.

13.	GOVERNMENT GRANTS

Other income includes amounts received from the Government's Coronavirus Job Retention Scheme. The income is received in the form of grants. The company has also benefited from the deferment of VAT under the Government's deferral scheme as well as the receipt of a government backed loan.