Registered number
05020942
Perfect Motion Sports Marketing Limited
Filleted Accounts
31 January 2023
Perfect Motion Sports Marketing Limited
Registered number: 05020942
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,935 2,580
Current assets
Debtors 4 28,229 26,054
Creditors: amounts falling due within one year 5 (56,260) (79,863)
Net current liabilities (28,031) (53,809)
Total assets less current liabilities (26,096) (51,229)
Creditors: amounts falling due after more than one year 6 (34,091) (45,488)
Provisions for liabilities (490) (490)
Net liabilities (60,677) (97,207)
Capital and reserves
Called up share capital 299 299
Profit and loss account (60,976) (97,506)
Shareholders' funds (60,677) (97,207)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Chris Simon
Director
Approved by the board on 20 October 2023
Perfect Motion Sports Marketing Limited
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2022 30,826
At 31 January 2023 30,826
Depreciation
At 1 February 2022 28,246
Charge for the year 645
At 31 January 2023 28,891
Net book value
At 31 January 2023 1,935
At 31 January 2022 2,580
4 Debtors 2023 2022
£ £
Trade debtors - 2,104
Other debtors 28,229 23,950
28,229 26,054
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 34,616 3,947
Trade creditors 53 5,445
Taxation and social security costs 1,320 3,532
Other creditors 20,271 66,939
56,260 79,863
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 34,091 45,488
7 Controlling party
Mr C Simon was the controlling party during the year.
8 Other information
Perfect Motion Sports Marketing Limited is a private company limited by shares and incorporated in England. Its registered office is:
89 Ella Road
West Bridgford
Nottingham
NG2 5GZ
Perfect Motion Sports Marketing Limited 05020942 false 2022-02-01 2023-01-31 2023-01-31 VT Final Accounts April 2022 Chris Simon No description of principal activity 05020942 2021-02-01 2022-01-31 05020942 core:WithinOneYear 2022-01-31 05020942 core:AfterOneYear 2022-01-31 05020942 core:ShareCapital 2022-01-31 05020942 core:RetainedEarningsAccumulatedLosses 2022-01-31 05020942 2022-02-01 2023-01-31 05020942 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 05020942 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 05020942 bus:Director40 2022-02-01 2023-01-31 05020942 1 2022-02-01 2023-01-31 05020942 2 2022-02-01 2023-01-31 05020942 core:PlantMachinery 2022-02-01 2023-01-31 05020942 countries:England 2022-02-01 2023-01-31 05020942 bus:FRS102 2022-02-01 2023-01-31 05020942 bus:FullAccounts 2022-02-01 2023-01-31 05020942 2023-01-31 05020942 core:WithinOneYear 2023-01-31 05020942 core:AfterOneYear 2023-01-31 05020942 core:ShareCapital 2023-01-31 05020942 core:RetainedEarningsAccumulatedLosses 2023-01-31 05020942 core:PlantMachinery 2023-01-31 05020942 2022-01-31 05020942 core:PlantMachinery 2022-01-31 iso4217:GBP xbrli:pure