2023-01-012023-12-312023-12-31false13797738PERFECTLY POLISHED PLYMSTOCK 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PERFECTLY POLISHED PLYMSTOCK LIMITED

Registered Number
13797738
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

PERFECTLY POLISHED PLYMSTOCK LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

Jennifer Cooper
Jodie Cunningham

Registered Address

11d Radford Park Road
Plymstock
Plymouth
PL9 9DG

Registered Number

13797738 (England and Wales)
PERFECTLY POLISHED PLYMSTOCK LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets318,00019,000
Tangible assets4816788
18,81619,788
Current assets
Stocks517,82418,950
Debtors1,791315
Cash at bank and on hand11,65922,210
31,27441,475
Creditors amounts falling due within one year6(49,387)(59,448)
Net current assets (liabilities)(18,113)(17,973)
Total assets less current liabilities7031,815
Provisions for liabilities7(155)(150)
Net assets5481,665
Capital and reserves
Called up share capital140120
Profit and loss account4081,545
Shareholders' funds5481,665
The financial statements were approved and authorised for issue by the Board of Directors on 6 August 2024, and are signed on its behalf by:
Jennifer Cooper
Director
Registered Company No. 13797738
PERFECTLY POLISHED PLYMSTOCK LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from 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. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Deferred tax
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.
Intangible assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Office Equipment25
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year1010
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 January 2320,00020,000
At 31 December 2320,00020,000
Amortisation and impairment
At 01 January 231,0001,000
Charge for year1,0001,000
At 31 December 232,0002,000
Net book value
At 31 December 2318,00018,000
At 31 December 2219,00019,000
4.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 January 2388221903
Additions-199199
At 31 December 238822201,102
Depreciation and impairment
At 01 January 231114115
Charge for year15417171
At 31 December 2326521286
Net book value
At 31 December 23617199816
At 31 December 2277117788
5.Stocks

2023

2022

££
Raw materials and consumables17,82418,950
Total17,82418,950
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables3,7535,346
Taxation and social security10,3309,747
Other creditors35,30444,355
Total49,38759,448
7.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)155150
Total155150
8.Related party transactions
At the year end the company owed J Cunningham, Director £12,664 (2022: £20,975) and J Cooper, Director £20,423 (2022: £21,861).