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REGISTERED NUMBER: 14544834 (England and Wales)









PERFECT LIVING SPACE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

16 DECEMBER 2022 TO 31 MARCH 2024






PERFECT LIVING SPACE LIMITED (REGISTERED NUMBER: 14544834)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 16 DECEMBER 2022 TO 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PERFECT LIVING SPACE LIMITED

COMPANY INFORMATION
FOR THE PERIOD 16 DECEMBER 2022 TO 31 MARCH 2024







DIRECTORS: Mr D S Dave
Mrs A Dave





REGISTERED OFFICE: Station House
North Street
Havant
Hampshire
PO9 1QU





REGISTERED NUMBER: 14544834 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

PERFECT LIVING SPACE LIMITED (REGISTERED NUMBER: 14544834)

BALANCE SHEET
31 MARCH 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 200
Investment property 5 2,003,000
2,003,200

CURRENT ASSETS
Debtors 6 1,196
Cash at bank 31,733
32,929
CREDITORS
Amounts falling due within one year 7 35,550
NET CURRENT LIABILITIES (2,621 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,000,579

CREDITORS
Amounts falling due after more than one
year

8

(1,283,901

)

PROVISIONS FOR LIABILITIES (5,050 )
NET ASSETS 711,628

CAPITAL AND RESERVES
Called up share capital 715,776
Other reserves 15,000
Retained earnings (19,148 )
711,628

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 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 LIVING SPACE LIMITED (REGISTERED NUMBER: 14544834)

BALANCE SHEET - continued
31 MARCH 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:





Mr D S Dave - Director


PERFECT LIVING SPACE LIMITED (REGISTERED NUMBER: 14544834)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 16 DECEMBER 2022 TO 31 MARCH 2024

1. STATUTORY INFORMATION

Perfect Living Space 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable during the period. Rental income is recognised on the basis of amounts due in the period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


PERFECT LIVING SPACE LIMITED (REGISTERED NUMBER: 14544834)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 16 DECEMBER 2022 TO 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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 period 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.

Going concern
The company has the continued financial support of its directors, who have agreed not to request repayment of their loans until the company has the funds available. On this basis the directors of Perfect Living Space Limited consider it appropriate to prepare accounts on the going concern basis. These financial statements do not include any adjustments that would result in the company suffering further trading losses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 300
At 31 March 2024 300
DEPRECIATION
Charge for period 100
At 31 March 2024 100
NET BOOK VALUE
At 31 March 2024 200

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 1,983,000
Revaluations 20,000
At 31 March 2024 2,003,000
NET BOOK VALUE
At 31 March 2024 2,003,000

PERFECT LIVING SPACE LIMITED (REGISTERED NUMBER: 14544834)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 16 DECEMBER 2022 TO 31 MARCH 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 20,000
Cost 1,983,000
2,003,000

If the properties had not been revalued they would have been included at the following historical cost:

£   
Cost 1,983,000

Investment properties were valued on an open market basis basis on 13 October 2023 by Precise Mortgages .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 215
Prepayments 981
1,196

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other creditors 5,000
Directors' current accounts 27,503
Accruals and deferred income 3,047
35,550

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Bank loans more 5 yrs non-inst 1,283,901

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,283,901

9. SECURED DEBTS

The following secured debts are included within creditors:

£   
Bank loans 1,283,901