Perfectly Green Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 06136680 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

PERFECTLY GREEN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G O'Driscoll

S J Hedgecock

REGISTERED OFFICE:

Unit M1, Swallows Business Park

Diamond Drive

Lower Dicker

Hailsham

East Sussex

BN27 4EL

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

17,781

31,501

Tangible assets

5

135,535

114,023

Investments

6

90

90

153,406

145,614

CURRENT ASSETS

Stocks

596,397

545,785

Debtors

7

697,298

265,342

Cash at bank and in hand

64,798

181,663

1,358,493

992,790

CREDITORS

Amounts falling due within one year

8

(744,605

)

(414,615

)

NET CURRENT ASSETS

613,888

578,175

TOTAL ASSETS LESS CURRENT LIABILITIES

767,294

723,789

CREDITORS

Amounts falling due after more than one year

9

(15,410

)

(56,384

)

PROVISIONS FOR LIABILITIES

(33,419

)

(27,939

)

NET ASSETS

718,465

639,466

CAPITAL AND RESERVES

Called up share capital

10

111

111

Share premium

6,424

6,424

Retained earnings

711,930

632,931

SHAREHOLDERS' FUNDS

718,465

639,466

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 19 September 2023 and were signed on its behalf by:

S J Hedgecock - 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

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 19 (2022 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2022

and 31 March 2023

41,200

AMORTISATION

At 1 April 2022

9,699

Charge for year

13,720

At 31 March 2023

23,419

NET BOOK VALUE

At 31 March 2023

17,781

At 31 March 2022

31,501

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2022

102,069

64,361

42,455

115,026

323,911

Additions

367

62,572

-

607

63,546

At 31 March 2023

102,436

126,933

42,455

115,633

387,457

DEPRECIATION

At 1 April 2022

79,760

25,695

14,136

90,297

209,888

Charge for year

7,215

12,464

8,487

13,868

42,034

At 31 March 2023

86,975

38,159

22,623

104,165

251,922

NET BOOK VALUE

At 31 March 2023

15,461

88,774

19,832

11,468

135,535

At 31 March 2022

22,309

38,666

28,319

24,729

114,023

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

Motor

vehicles

£

COST

At 1 April 2022

and 31 March 2023

42,455

DEPRECIATION

At 1 April 2022

14,136

Charge for year

8,487

At 31 March 2023

22,623

NET BOOK VALUE

At 31 March 2023

19,832

At 31 March 2022

28,319

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2022

and 31 March 2023

90

NET BOOK VALUE

At 31 March 2023

90

At 31 March 2022

90

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

336,940

95,263

Amounts owed by group undertakings

319,238

158,890

Other debtors

41,120

11,189

697,298

265,342

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

29,013

55,633

Hire purchase contracts

12,630

20,483

Trade creditors

545,131

199,632

Taxation and social security

136,035

122,825

Other creditors

21,796

16,042

744,605

414,615

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

-

28,343

Hire purchase contracts

15,410

28,041

15,410

56,384

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

42

Ordinary A

£1

42

42

35

Ordinary B

£1

35

35

23

Ordinary D

£1

11

23

11

Ordinary C

£1

23

11

111

111

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023

2022

£

£

S F Allen

Balance outstanding at start of year

-

11,000

Amounts repaid

-

(11,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

12.	RELATED PARTY DISCLOSURES

Challenge Packaging Limited

Challenge Packaging Limited was a related party due to S F Allen formerly being a director and shareholder of both companies.

Challenge Packaging Limited has charged the company nil (2022: £30,153) for services provided. At the balance sheet date, the amount due to Challenge Packaging was nil (2022: nil).

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 £195,187 (2022: £29,104), 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 £475,190 (2022: £622,615) for stock sales in the normal course of business and £22,684 (2022: £25,690) in management charges.