Perfect Aquatics Ltd - Accounts to registrar (filleted) - small 18.2
Perfect Aquatics Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2018 |
| FOR |
| PERFECT AQUATICS LTD |
| PERFECT AQUATICS LTD (REGISTERED NUMBER: 10306026) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 AUGUST 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| PERFECT AQUATICS LTD |
| COMPANY INFORMATION |
| for the Year Ended 31 AUGUST 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Prospero House |
| 46-48 Rothesay Road |
| Luton |
| Bedfordshire |
| LU1 1QZ |
| PERFECT AQUATICS LTD (REGISTERED NUMBER: 10306026) |
| BALANCE SHEET |
| 31 AUGUST 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| PERFECT AQUATICS LTD (REGISTERED NUMBER: 10306026) |
| BALANCE SHEET - continued |
| 31 AUGUST 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| PERFECT AQUATICS LTD (REGISTERED NUMBER: 10306026) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 AUGUST 2018 |
| 1. | STATUTORY INFORMATION |
| Perfect Aquatics Ltd is a |
| 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 |
| The accounts have been prepared on a going concern basis which is considered to be appropriate, although the |
| company's ability to continue trading is reliant on the continued support of the directors. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Goodwill |
| 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. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| The freehold property is being depreciated to it's estimated residual value over it's deemed useful economic life. |
| The directors believe the residual value to be at least the current carrying value in these accounts and therefore, |
| depreciation would be negligible. The maintenance costs are charged to the profit and loss account in the year |
| incurred. The directors review the estimated residual value at the end of each accounting period. |
| 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 balance sheet date. |
| PERFECT AQUATICS LTD (REGISTERED NUMBER: 10306026) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 AUGUST 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 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 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 September 2017 |
| and 31 August 2018 |
| AMORTISATION |
| At 1 September 2017 |
| Amortisation for year |
| At 31 August 2018 |
| NET BOOK VALUE |
| At 31 August 2018 |
| At 31 August 2017 |
| PERFECT AQUATICS LTD (REGISTERED NUMBER: 10306026) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 AUGUST 2018 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and | Motor |
| property | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 September 2017 |
| Additions |
| At 31 August 2018 |
| DEPRECIATION |
| At 1 September 2017 |
| Charge for year |
| At 31 August 2018 |
| NET BOOK VALUE |
| At 31 August 2018 |
| At 31 August 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Prepayments and accrued income |
| The balance due by group undertakings are unsecured, interest free and repayable on demand. |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| VAT | 10,721 | 10,418 |
| Other creditors |
| Directors' loan accounts | 188,405 | 181,663 |
| Accrued expenses |
| Included within other creditors are loans of £91,000 from a company in which Mr M Hussain has an interest. The |
| loans are interest free and repayable on demand. |
| PERFECT AQUATICS LTD (REGISTERED NUMBER: 10306026) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 AUGUST 2018 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary shares | £1 | 100 | 100 |
| 9. | OFF-BALANCE SHEET ARRANGEMENTS |
| Perfect Aquatics Limited is acting as a guarantor against the secured creditor in Perfect Aquatics Property |
| Limited. |
| The creditors are secured over the assets of Perfect Aquatics Limited and Perfect Aquatics Property Limited. |
| 10. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |