Perfect Hygiene Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: SC540367 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

FOR

PERFECT HYGIENE LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

7

DIRECTORS:

Mr S A Kennedy

Mr S Gardiner

REGISTERED OFFICE:

Alma House

Blackburn Business Park

Blackburn

Aberdeen

AB21 0PS

REGISTERED NUMBER:

SC540367 (Scotland)

ACCOUNTANTS:

Acumen Accountants and Advisors Limited

Bankhead Drive

City South Office Park

Portlethen

Aberdeenshire

AB12 4XX

FIXED ASSETS

Tangible assets

4

224,200

128,106

CURRENT ASSETS

Stocks

5

32,497

27,081

Debtors

6

140,592

140,629

Cash at bank

447,163

295,133

620,252

462,843

CREDITORS

Amounts falling due within one year

7

290,308

251,113

NET CURRENT ASSETS

329,944

211,730

TOTAL ASSETS LESS CURRENT LIABILITIES

554,144

339,836

CREDITORS

Amounts falling due after more than one year

8

(50,221

)

(6,682

)

PROVISIONS FOR LIABILITIES

10

(39,088

)

(21,836

)

NET ASSETS

464,835

311,318

CAPITAL AND RESERVES

Called up share capital

103

5

Retained earnings

464,732

311,313

SHAREHOLDERS' FUNDS

464,835

311,318

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

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

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 27 April 2023 and were signed on its behalf by:

Mr S A Kennedy - Director

1.	STATUTORY INFORMATION

Perfect Hygiene Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 - 25% on cost

Plant and machinery - 20% reducing balance

Fixtures and fittings - 25% reducing balance

Motor vehicles - 25% reducing balance

Computer equipment - 33% on cost

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. As of 01 August 2020, the depreciation rate for Plant and Machinery category of fixed assets was changed from a policy of 25% on cost to 20% reducing balance. The reason for this was that the director felt it was a more appropriate representation of the asset's useful life.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised as income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

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 statement of financial position date.

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.

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 yearr 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 (2021 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 August 2021

112,692

3,756

46,668

11,462

174,578

Additions

35,823

-

115,637

1,099

152,559

At 31 July 2022

148,515

3,756

162,305

12,561

327,137

DEPRECIATION

At 1 August 2021

35,065

604

7,237

3,566

46,472

Charge for year

29,476

788

23,457

2,744

56,465

At 31 July 2022

64,541

1,392

30,694

6,310

102,937

NET BOOK VALUE

At 31 July 2022

83,974

2,364

131,611

6,251

224,200

At 31 July 2021

77,627

3,152

39,431

7,896

128,106

5.

STOCKS

2022

2021

£

£

Stocks

32,497

27,081

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

128,895

122,068

Prepayments

11,697

18,561

140,592

140,629

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Hire purchase contracts (see note 9)

23,191

4,717

Trade creditors

69,950

58,770

Tax

19,981

25,765

Social security and other taxes

6,957

6,761

VAT

37,466

59,778

Other creditors

25,145

30,382

Net Wages Control

20,597

18

Directors' current accounts

25,567

6,750

Accrued expenses

61,454

58,172

290,308

251,113

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Hire purchase contracts (see note 9)

50,221

6,682

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2022

2021

£

£

Net obligations repayable:

Within one year

23,191

4,717

Between one and five years

50,221

6,682

73,412

11,399

Non-cancellable operating

leases

2022

2021

£

£

Within one year

1,680

1,680

10.	PROVISIONS FOR LIABILITIES

2022

2021

£

£

Deferred tax

39,088

21,836

Deferred

tax

£

Balance at 1 August 2021

21,836

Provided during year

17,252

Balance at 31 July 2022

39,088

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2022 and 31 July 2021:

2022

2021

£

£

Mr S A Kennedy

Balance outstanding at start of year

(6,750

)

(34,538

)

Amounts advanced

32,908

29,112

Amounts repaid

(37,300

)

(1,324

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(11,142

)

(6,750

)

Mr S Gardiner

Balance outstanding at start of year

-

(8,224

)

Amounts advanced

8,750

24,099

Amounts repaid

(23,175

)

(15,875

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(14,425

)

-

These loans are interest free and there are no fixed repayment terms.

12.	RELATED PARTY DISCLOSURES

At 31 July 2022, there was a total of £131,141 invoices received and a total of £152,925 invoices raised to a company who is under the same control and directorship as Perfect Hygiene Limited. At year end, the balance outstanding was £21,784 (2021: £29,045) which is included in other creditors.

All transactions are carried out at arm's length with a payment term of 30 days.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Perfect Hygiene Limited for the year ended 31 July 2022 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Perfect Hygiene Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Perfect Hygiene Limited and state those matters that we have agreed to state to the Board of Directors of Perfect Hygiene Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Perfect Hygiene Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Perfect Hygiene Limited. You consider that Perfect Hygiene Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Perfect Hygiene Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Acumen Accountants and Advisors Limited

Bankhead Drive

City South Office Park

Portlethen

Aberdeenshire

AB12 4XX

27 April 2023