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Registered number: 13722481
Perez Effects Ltd
Financial Statements
For The Year Ended 30 November 2023
Apple Accountancy Services Limited
Chartered Certified Accountants
146 Manor Way
Borehamwood
Hertfordshire
WD6 1QX
Financial Statements
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of Perez Effects Ltd For The Year Ended 30 November 2023
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Perez Effects Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Perez Effects Ltd , as a body, in accordance with the terms of our engagement letter dated 16 February 2022. Our work has been undertaken solely to prepare for your approval the accounts of Perez Effects Ltd and state those matters that we have agreed to state to the director of Perez Effects Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Perez Effects Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Perez Effects Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Perez Effects Ltd . You consider that Perez Effects Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Perez Effects Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
9th August 2024
Apple Accountancy Services Limited
Chartered Certified Accountants
146 Manor Way
Borehamwood
Hertfordshire
WD6 1QX
Page 1
Page 2
Balance Sheet
Registered number: 13722481
30 November 2023 30 November 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,077 1,550
1,077 1,550
CURRENT ASSETS
Debtors 2,868 2,255
Cash at bank and in hand 37,231 18,392
40,099 20,647
Creditors: Amounts Falling Due Within One Year (22,585 ) (11,414 )
NET CURRENT ASSETS (LIABILITIES) 17,514 9,233
TOTAL ASSETS LESS CURRENT LIABILITIES 18,591 10,783
NET ASSETS 18,591 10,783
CAPITAL AND RESERVES
Called up share capital 11 101
Profit and Loss Account 18,580 10,682
SHAREHOLDERS' FUNDS 18,591 10,783
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Page 3
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Samuel Perez
Director
9th August 2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Perez Effects Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13722481 . The registered office is 146 Manor Way, Borehamwood, Hertfordshire, WD6 1QX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing balance
Computer Equipment 33% Straight line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 December 2022 196 2,104 2,300
Additions - 787 787
Disposals (33 ) (351 ) (384 )
As at 30 November 2023 163 2,540 2,703
Depreciation
As at 1 December 2022 49 701 750
Provided during the period 29 847 876
As at 30 November 2023 78 1,548 1,626
Net Book Value
As at 30 November 2023 85 992 1,077
As at 1 December 2022 147 1,403 1,550
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