Silverfin false 31/03/2023 01/04/2022 31/03/2023 M Surendra 09/05/2019 29 November 2023 The principal activity of the Company during the financial year was that of management consultancy activities. 11987773 2023-03-31 11987773 bus:Director1 2023-03-31 11987773 2022-03-31 11987773 core:CurrentFinancialInstruments 2023-03-31 11987773 core:CurrentFinancialInstruments 2022-03-31 11987773 core:ShareCapital 2023-03-31 11987773 core:ShareCapital 2022-03-31 11987773 core:RetainedEarningsAccumulatedLosses 2023-03-31 11987773 core:RetainedEarningsAccumulatedLosses 2022-03-31 11987773 core:OtherPropertyPlantEquipment 2022-03-31 11987773 core:OtherPropertyPlantEquipment 2023-03-31 11987773 2022-04-01 2023-03-31 11987773 bus:FullAccounts 2022-04-01 2023-03-31 11987773 bus:SmallEntities 2022-04-01 2023-03-31 11987773 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11987773 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11987773 bus:Director1 2022-04-01 2023-03-31 11987773 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-04-01 2023-03-31 11987773 2021-04-01 2022-03-31 11987773 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 11987773 (England and Wales)

PERFECT CIRCLE STRATEGY LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

PERFECT CIRCLE STRATEGY LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

PERFECT CIRCLE STRATEGY LIMITED

BALANCE SHEET

As at 31 March 2023
PERFECT CIRCLE STRATEGY LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 1,005 2,081
1,005 2,081
Current assets
Debtors 5 30,360 28,980
Cash at bank and in hand 249,138 267,344
279,498 296,324
Creditors: amounts falling due within one year 6 ( 25,730) ( 48,051)
Net current assets 253,768 248,273
Total assets less current liabilities 254,773 250,354
Net assets 254,773 250,354
Capital and reserves
Called-up share capital 100 100
Profit and loss account 254,673 250,254
Total shareholder's funds 254,773 250,354

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Perfect Circle Strategy Limited (registered number: 11987773) were approved and authorised for issue by the Director on 29 November 2023. They were signed on its behalf by:

M Surendra
Director
PERFECT CIRCLE STRATEGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
PERFECT CIRCLE STRATEGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Perfect Circle Strategy Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 508 Sovereign Tower 1 Emily Street, London, E16 1LU, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Taxation

Current tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible fixed assets

Tangible assets is stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the debtors are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade and other creditors

Trade and other creditors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, except where the effect of discounting would be immaterial. In such cases creditors are stated at transaction price.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.

Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the asset have been affected.

Ordinary share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Specifically, judgements and estimates are required in determining the useful economic lives of fixed assets, the recoverability of trade debtors and the adoption of the going concern basis in preparing these accounts.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2022 3,228 3,228
At 31 March 2023 3,228 3,228
Accumulated depreciation
At 01 April 2022 1,147 1,147
Charge for the financial year 1,076 1,076
At 31 March 2023 2,223 2,223
Net book value
At 31 March 2023 1,005 1,005
At 31 March 2022 2,081 2,081

5. Debtors

2023 2022
£ £
Trade debtors 30,360 28,980

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 300 0
Taxation and social security 19,554 44,194
Other creditors 5,876 3,857
25,730 48,051

7. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Director's loan account 3,572 1,865

The above is unsecured, interest free and repayable on demand.