Perfect Supply Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 04725661 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

FOR

PERFECT SUPPLY LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

P A Burden

S K Baxter

REGISTERED OFFICE:

1 The Old School

The Square

Pennington

Lymington

Hampshire

SO41 8GN

REGISTERED NUMBER:

04725661 (England and Wales)

ACCOUNTANTS:

Underwood Barron Associates Limited

1 The Old School

The Square

Pennington

Lymington

Hampshire

SO41 8GN

FIXED ASSETS

Intangible assets

2

-

34,694

Tangible assets

3

14,320

13,494

14,320

48,188

CURRENT ASSETS

Stocks

128,559

141,740

Debtors

23,016

23,779

Cash at bank and in hand

1,786

4,355

153,361

169,874

CREDITORS

Amounts falling due within one year

4

141,911

134,434

NET CURRENT ASSETS

11,450

35,440

TOTAL ASSETS LESS CURRENT LIABILITIES

25,770

83,628

PROVISIONS FOR LIABILITIES

2,864

2,473

NET ASSETS

22,906

81,155

CAPITAL AND RESERVES

Called up share capital

5

2

2

Profit and loss account

22,904

81,153

SHAREHOLDERS' FUNDS

22,906

81,155

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 25 July 2015 and were signed on its behalf by:

P A Burden - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents income derived from the company's principal activity and is stated net of VAT.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of five years.

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 etc

-

33% on cost and 25% 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

173,470

AMORTISATION

At 1 April 2014

138,776

Amortisation for year

34,694

At 31 March 2015

173,470

NET BOOK VALUE

At 31 March 2015

-

At 31 March 2014

34,694

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

42,084

Additions

5,451

Disposals

(8,469

)

At 31 March 2015

39,066

DEPRECIATION

At 1 April 2014

28,590

Charge for year

4,625

Eliminated on disposal

(8,469

)

At 31 March 2015

24,746

NET BOOK VALUE

At 31 March 2015

14,320

At 31 March 2014

13,494

4.

CREDITORS

Creditors include an amount of £ 46,796 (31.3.14 - £ 46,958 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

2

Ordinary

£1

2

2

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2015 and

31 March 2014:

31.3.15

31.3.14

£

£

P A Burden and S K Baxter

Balance outstanding at start of year

16,686

-

Amounts advanced

-

17,156

Amounts repaid

(16,686

)

(470

)

Balance outstanding at end of year

-

16,686

The company has agreed to make advances to the directors of up to £30,000 at any time. The terms agreed are

that the advances are repayable on demand, and interest is to be charged on the advances at the official rate

where the balance exceeds £10,000 at any time during the year.

Repayments totalling £16,686 were made during the year. The maximum balance outstanding at any time

during the year was £16,686.

7.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors.