Registered number
04951781
The Perk-Company Limited
Filleted Accounts
30 November 2023
The Perk-Company Limited
Registered number: 04951781
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 366,343 402,294
Current assets
Stocks 436,077 251,244
Debtors 5 275,195 415,190
Cash at bank and in hand 123,043 187,861
834,315 854,295
Creditors: amounts falling due within one year 6 (988,924) (966,669)
Net current liabilities (154,609) (112,374)
Total assets less current liabilities 211,734 289,920
Creditors: amounts falling due after more than one year 7 (154,419) (193,636)
Provisions for liabilities (16,222) (14,047)
Net assets 41,093 82,237
Capital and reserves
Called up share capital 100 100
Profit and loss account 40,993 82,137
Shareholder's funds 41,093 82,237
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
M Baillie
Director
Approved by the board on 13 August 2024
The Perk-Company Limited
Notes to the Accounts
for the year ended 30 November 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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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 15% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Going Concern
"The Director has considered the company's business activities, together with the factors likely to affect its future development,performance and position that are effected due to Covid19 restrictions.

The director has considered the company's financial resources together with its customer base and supply chain.

As a consequence, the director believes that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook.

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
We have continued to prepare the accounts on a going concern basis and deem this appropriate. We do not consider that a material uncertainty about our going concern status currently exists,in making this assessment we have considered the likely trading conditions for the period of 12 months from that date of our approval of these accounts
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 30 28
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2022 841,837 128,104 969,941
Additions 37,295 - 37,295
Disposals - (28,155) (28,155)
At 30 November 2023 879,132 99,949 979,081
Depreciation
At 1 December 2022 489,972 77,675 567,647
Charge for the year 55,407 11,590 66,997
On disposals - (21,906) (21,906)
At 30 November 2023 545,379 67,359 612,738
Net book value
At 30 November 2023 333,753 32,590 366,343
At 30 November 2022 351,865 50,429 402,294
5 Debtors 2023 2022
£ £
Trade debtors 192,295 328,179
Other debtors 82,900 87,011
275,195 415,190
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 87,765 95,298
Obligations under finance lease and hire purchase contracts 17,024 3,322
Trade creditors 560,537 562,744
Taxation and social security costs 189,368 187,604
Other creditors 134,230 117,701
988,924 966,669
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 103,912 175,001
Obligations under finance lease and hire purchase contracts 50,507 18,635
154,419 193,636
8 Controlling party
Mr M Ballie controls the company by virtue of his 100% direct holding of ordinary shares in the company
9 Other information
The Perk-Company Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit10 Roman Way
Coleshill
Birmingham
West Midlands
B46 1HG
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