Perfect Plants (Sussex) Limited - Accounts to registrar - small 16.3d

Perfect Plants (Sussex) Limited - Accounts to registrar - small 16.3d

PERFECT PLANTS (SUSSEX) LTD - Company Information

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REGISTERED NUMBER: 08076071 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

PERFECT PLANTS (SUSSEX) LIMITED

PERFECT PLANTS (SUSSEX) LIMITED (REGISTERED NUMBER: 08076071)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PERFECT PLANTS (SUSSEX) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2016







DIRECTORS: Mrs P Harper
S Harper





REGISTERED OFFICE: Church Road
Herstmonceux
East Sussex
BN27 1RL





REGISTERED NUMBER: 08076071 (England and Wales)





ACCOUNTANTS: LMDB Accountants
Chartered Certified Accountants
Railview Lofts
19c Commercial Road
Eastbourne
East Sussex
BN21 3XE
Page 1
PERFECT PLANTS (SUSSEX) LIMITED (REGISTERED NUMBER: 08076071)

BALANCE SHEET
31 DECEMBER 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 72,538 39,269

CURRENT ASSETS
Stocks 185,909 152,561
Debtors 5 7,441 4,706
Cash at bank and in hand 1,202 399
194,552 157,666
CREDITORS
Amounts falling due within one year 6 123,212 118,355
NET CURRENT ASSETS 71,340 39,311
TOTAL ASSETS LESS CURRENT
LIABILITIES
143,878
78,580

CREDITORS
Amounts falling due after more than
one year
7
(46,300
)
(51,345
)

PROVISIONS FOR LIABILITIES (14,377 ) -
NET ASSETS 83,201 27,235

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 83,199 27,233
SHAREHOLDERS' FUNDS 83,201 27,235

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 notes form part of these financial statements

Page 2 continued...
PERFECT PLANTS (SUSSEX) LIMITED (REGISTERED NUMBER: 08076071)

BALANCE SHEET - continued
31 DECEMBER 2016


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 3 April 2017 and were signed on its
behalf by:





Mrs P Harper - Director


The notes form part of these financial statements

Page 3
PERFECT PLANTS (SUSSEX) LIMITED (REGISTERED NUMBER: 08076071)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

1. STATUTORY INFORMATION

Perfect Plants (Sussex) 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 etc - 33% on cost, 25% on reducing balance and 15% 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 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.

Page 4 continued...
PERFECT PLANTS (SUSSEX) LIMITED (REGISTERED NUMBER: 08076071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2016 46,152
Additions 42,148
At 31 December 2016 88,300
DEPRECIATION
At 1 January 2016 6,883
Charge for year 8,879
At 31 December 2016 15,762
NET BOOK VALUE
At 31 December 2016 72,538
At 31 December 2015 39,269

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade debtors 7,091 4,356
Other debtors 350 350
7,441 4,706

Page 5 continued...
PERFECT PLANTS (SUSSEX) LIMITED (REGISTERED NUMBER: 08076071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Bank loans and overdrafts 3,311 14,472
Trade creditors 47,222 51,859
Taxation and social security 12,218 12,584
Other creditors 60,461 39,440
123,212 118,355

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2016 2015
£    £   
Bank loans 20,300 23,345
Other creditors 26,000 28,000
46,300 51,345

8. SECURED DEBTS

The following secured debts are included within creditors:

2016 2015
£    £   
Bank overdrafts 266 11,427
Bank loans 23,345 26,390
23,611 37,817

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
2 Ordinary £1 2 2

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Mr & Mrs Harper by virtue of their 100% shareholding of the
issued ordinary share capital.

Page 6