IRIS Accounts Production v23.3.1.45 04979190 Board of Directors 1.12.22 30.11.23 30.11.23 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh049791902022-11-30049791902023-11-30049791902022-12-012023-11-30049791902021-11-30049791902021-12-012022-11-30049791902022-11-3004979190ns10:Originalns15:EnglandWales2022-12-012023-11-3004979190ns14:PoundSterlingns10:Original2022-12-012023-11-3004979190ns10:Originalns10:Director12022-12-012023-11-3004979190ns10:Original2022-12-012023-11-3004979190ns10:Original2023-11-3004979190ns10:Originalns10:PrivateLimitedCompanyLtd2022-12-012023-11-3004979190ns10:Originalns10:SmallEntities2022-12-012023-11-3004979190ns10:Originalns10:AuditExempt-NoAccountantsReport2022-12-012023-11-3004979190ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-3004979190ns10:SmallCompaniesRegimeForAccountsns10:Original2022-12-012023-11-3004979190ns10:Originalns10:FullAccounts2022-12-012023-11-3004979190ns10:Original12022-12-012023-11-3004979190ns10:Originalns10:OrdinaryShareClass12022-12-012023-11-3004979190ns10:Originalns10:Director22022-12-012023-11-3004979190ns10:Originalns10:Director32022-12-012023-11-3004979190ns10:Originalns10:RegisteredOffice2022-12-012023-11-3004979190ns10:Original2022-11-3004979190ns10:Originalns5:CurrentFinancialInstruments2023-11-3004979190ns10:Originalns5:CurrentFinancialInstruments2022-11-3004979190ns10:Originalns5:Non-currentFinancialInstruments2023-11-3004979190ns10:Originalns5:Non-currentFinancialInstruments2022-11-3004979190ns5:ShareCapitalns10:Original2023-11-3004979190ns5:ShareCapitalns10:Original2022-11-3004979190ns10:Originalns5:CapitalRedemptionReserve2023-11-3004979190ns10:Originalns5:CapitalRedemptionReserve2022-11-3004979190ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-11-3004979190ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-11-3004979190ns10:Originalns5:NetGoodwill2022-12-012023-11-3004979190ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-12-012023-11-3004979190ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2022-12-012023-11-3004979190ns10:Originalns5:PlantMachinery2022-12-012023-11-3004979190ns10:Originalns5:FurnitureFittings2022-12-012023-11-3004979190ns10:Originalns5:MotorVehicles2022-12-012023-11-3004979190ns10:Original2021-12-012022-11-3004979190ns10:Originalns5:NetGoodwill2022-11-3004979190ns10:Originalns5:NetGoodwill2023-11-3004979190ns10:Originalns5:NetGoodwill2022-11-3004979190ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2022-11-3004979190ns10:Originalns5:PlantMachinery2022-11-3004979190ns10:Originalns5:FurnitureFittings2022-11-3004979190ns10:Originalns5:MotorVehicles2022-11-3004979190ns10:Original2022-11-3004979190ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2023-11-3004979190ns10:Originalns5:PlantMachinery2023-11-3004979190ns10:Originalns5:FurnitureFittings2023-11-3004979190ns10:Originalns5:MotorVehicles2023-11-3004979190ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2022-11-3004979190ns10:Originalns5:PlantMachinery2022-11-3004979190ns10:Originalns5:FurnitureFittings2022-11-3004979190ns10:Originalns5:MotorVehicles2022-11-3004979190ns10:Originalns5:LeasedAssetsHeldAsLessee2022-12-012023-11-3004979190ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-11-3004979190ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-11-3004979190ns10:Originalns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-11-3004979190ns10:Originalns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-11-3004979190ns5:BetweenOneFiveYearsns10:Originalns5:HirePurchaseContracts2023-11-3004979190ns5:BetweenOneFiveYearsns10:Originalns5:HirePurchaseContracts2022-11-3004979190ns10:Originalns5:HirePurchaseContracts2023-11-3004979190ns10:Originalns5:HirePurchaseContracts2022-11-3004979190ns10:Originalns5:WithinOneYear2023-11-3004979190ns10:Originalns5:WithinOneYear2022-11-3004979190ns5:BetweenOneFiveYearsns10:Original2023-11-3004979190ns5:BetweenOneFiveYearsns10:Original2022-11-3004979190ns10:Originalns5:AllPeriods2023-11-3004979190ns10:Originalns5:AllPeriods2022-11-3004979190ns10:Originalns5:DeferredTaxation2022-11-3004979190ns10:Originalns5:DeferredTaxation2023-11-3004979190ns10:Originalns10:OrdinaryShareClass12023-11-3004979190ns10:Original1ns10:Director12022-11-3004979190ns10:Original1ns10:Director12021-11-3004979190ns10:Original1ns10:Director12022-12-012023-11-3004979190ns10:Original1ns10:Director12021-12-012022-11-3004979190ns10:Original1ns10:Director12023-11-3004979190ns10:Original1ns10:Director12022-11-3004979190ns10:Originalns10:Director222022-11-3004979190ns10:Originalns10:Director222021-11-3004979190ns10:Originalns10:Director222022-12-012023-11-3004979190ns10:Originalns10:Director222021-12-012022-11-3004979190ns10:Originalns10:Director222023-11-3004979190ns10:Originalns10:Director222022-11-3004979190ns10:Originalns10:Director332022-11-3004979190ns10:Originalns10:Director332021-11-3004979190ns10:Originalns10:Director332022-12-012023-11-3004979190ns10:Originalns10:Director332021-12-012022-11-3004979190ns10:Originalns10:Director332023-11-3004979190ns10:Originalns10:Director332022-11-30
REGISTERED NUMBER: 04979190 (England and Wales)








Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Perfect Bore Manufacturing Limited

Perfect Bore Manufacturing Limited (Registered number: 04979190)

Contents of the Financial Statements
for the Year Ended 30 November 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Perfect Bore Manufacturing Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: D J Laughton
W J Laughton
A J Laughton





REGISTERED OFFICE: Unit 3 Hunstrete House
Sterling Park, East Portway Ind Estate
Andover
Hampshire
SP10 3TZ





REGISTERED NUMBER: 04979190 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

Perfect Bore Manufacturing Limited (Registered number: 04979190)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,464,951 1,486,496
1,464,951 1,486,496

CURRENT ASSETS
Stocks 189,867 187,267
Debtors 6 1,548,569 2,163,185
Cash at bank and in hand 1,547,356 782,219
3,285,792 3,132,671
CREDITORS
Amounts falling due within one year 7 1,129,362 974,335
NET CURRENT ASSETS 2,156,430 2,158,336
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,621,381

3,644,832

CREDITORS
Amounts falling due after more than one
year

8

(157,855

)

(317,740

)

PROVISIONS FOR LIABILITIES 11 (316,871 ) (260,595 )
NET ASSETS 3,146,655 3,066,497

CAPITAL AND RESERVES
Called up share capital 12 205 205
Capital redemption reserve 3,500 3,500
Retained earnings 3,142,950 3,062,792
SHAREHOLDERS' FUNDS 3,146,655 3,066,497

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

Perfect Bore Manufacturing Limited (Registered number: 04979190)

Balance Sheet - continued
30 November 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 1 February 2024 and were signed on its behalf by:





D J Laughton - Director


Perfect Bore Manufacturing Limited (Registered number: 04979190)

Notes to the Financial Statements
for the Year Ended 30 November 2023


1. STATUTORY INFORMATION

Perfect Bore Manufacturing 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

In respect of long term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Goodwill
Positive goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its estimated useful life up to a maximum of 20 years. Goodwill is reviewed for impairment at the end of the first full financial year following acquisition and subsequently as and when necessary if circumstances emerge that the carrying value may not be recoverable.

Goodwill is currently being amortised straight line over 5 years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold Property - Straight line over 30 years
Plant and machinery - 33% on cost, 20% on cost and 10% on cost
Fixtures and fittings - 33% on cost and 20% on cost
Motor vehicles - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.


Perfect Bore Manufacturing Limited (Registered number: 04979190)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, adjusted for indexation where applicable.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 67 (2022 - 61 ) .

Perfect Bore Manufacturing Limited (Registered number: 04979190)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 177,506
AMORTISATION
At 1 December 2022
and 30 November 2023 177,506
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and Motor
Property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 December 2022 103,990 4,211,451 522,454 280,693 5,118,588
Additions 10,831 193,303 47,256 48,495 299,885
Disposals - - (1,446 ) (161,174 ) (162,620 )
At 30 November 2023 114,821 4,404,754 568,264 168,014 5,255,853
DEPRECIATION
At 1 December 2022 80,348 3,042,984 423,930 84,830 3,632,092
Charge for year 10,935 121,348 34,553 28,163 194,999
Eliminated on disposal - - (48 ) (36,141 ) (36,189 )
At 30 November 2023 91,283 3,164,332 458,435 76,852 3,790,902
NET BOOK VALUE
At 30 November 2023 23,538 1,240,422 109,829 91,162 1,464,951
At 30 November 2022 23,642 1,168,467 98,524 195,863 1,486,496

Included within the net book value above is £350,139 (2022: £548,344) relating to assets held under hire purchase agreements.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 1,395,037 1,466,908
Other debtors 153,532 696,277
1,548,569 2,163,185

Perfect Bore Manufacturing Limited (Registered number: 04979190)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) 71,432 83,483
Trade creditors 445,402 402,599
Taxation and social security 569,923 422,360
Other creditors 32,605 55,893
1,129,362 974,335

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 16,465 26,465
Hire purchase contracts (see note 9) 141,390 291,275
157,855 317,740

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.11.23 30.11.22
£    £   
Net obligations repayable:
Within one year 71,432 83,483
Between one and five years 141,390 291,275
212,822 374,758

Non-cancellable operating leases
30.11.23 30.11.22
£    £   
Within one year 222,103 241,319
Between one and five years 305,592 527,695
527,695 769,014

10. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Hire purchase contracts 212,822 374,758

The obligations under hire purchase agreements are secured against the items of plant and machinery to which they relate.

Perfect Bore Manufacturing Limited (Registered number: 04979190)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


11. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
£    £   
Deferred tax 316,871 260,595

Deferred
tax
£   
Balance at 1 December 2022 260,595
Accelerated capital allowances 56,276
Balance at 30 November 2023 316,871

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
205 Ordinary £1 205 205

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2023 and 30 November 2022:

30.11.23 30.11.22
£    £   
D J Laughton
Balance outstanding at start of year 100,000 -
Amounts advanced - 100,000
Amounts repaid (100,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 100,000

W J Laughton
Balance outstanding at start of year 200,000 -
Amounts advanced - 200,000
Amounts repaid (200,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 200,000

A J Laughton
Balance outstanding at start of year 200,000 -
Amounts advanced - 200,000
Amounts repaid (200,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 200,000

Perfect Bore Manufacturing Limited (Registered number: 04979190)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

These advances are interest free and repayable within 9 months of the year end.