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ROY PERFECT LIMITED

Registered Number
04224553
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

ROY PERFECT LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

PERFECT, Angela Mary
PERFECT, Roy Mosley

Company Secretary

PERFECT, Angela Mary

Registered Address

Holmelands
Thiefside Calthwaite
Penrith
CA11 9RN

Registered Number

04224553 (England and Wales)
ROY PERFECT LIMITED
Statement of Financial Position
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3201,329182,090
201,329182,090
Current assets
Stocks376,680461,969
Debtors4101,027106,688
Cash at bank and on hand1,14941,098
478,856609,755
Creditors amounts falling due within one year5(324,700)(346,149)
Net current assets (liabilities)154,156263,606
Total assets less current liabilities355,485445,696
Provisions for liabilities6(50,300)(43,900)
Net assets305,185401,796
Capital and reserves
Called up share capital22
Profit and loss account305,183401,794
Shareholders' funds305,185401,796
The financial statements were approved and authorised for issue by the Board of Directors on 7 October 2024, and are signed on its behalf by:
PERFECT, Roy Mosley
Director
Registered Company No. 04224553
ROY PERFECT LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

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.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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 the rendering of services. 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.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings1520
Plant and machinery15-
Fixtures and fittings15-
Vehicles-4
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). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Government grants or assistance
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.
2.Average number of employees

20242023
Average number of employees during the year44
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Total

£££££
Cost or valuation
At 01 July 23119,588116,21275,9642,633314,397
Additions46,4721,403--47,875
Disposals--(28,914)-(28,914)
At 30 June 24166,060117,61547,0502,633333,358
Depreciation and impairment
At 01 July 2336,45973,30120,3592,188132,307
Charge for year3,7064,0057,50938115,601
On disposals--(15,879)-(15,879)
At 30 June 2440,16577,30611,9892,569132,029
Net book value
At 30 June 24125,89540,30935,06164201,329
At 30 June 2383,12942,91155,605445182,090
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables91,30794,410
Other debtors5,5859,362
Prepayments and accrued income4,1352,916
Total101,027106,688
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables64,022141,991
Bank borrowings and overdrafts76,70986,735
Taxation and social security17,1766,503
Other creditors158,11598,606
Accrued liabilities and deferred income8,67812,314
Total324,700346,149
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. Bank overdrafts amounting to £76,709 (2023 - £86,545) are secured by the company.
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)50,30043,900
Total50,30043,900
7.Pension commitments
The pension cost charge represents contributions payable by the company to the fund and amounted to £61,358 (2023 - £1,202).
8.Related party transactions
During the year the directors had a loan account with the company. At the balance sheet date the company owed the directors £157,353 (2023 - £98,119). The directors charged the company gross interest amounting to £11,754 (2023 - £11,012). During the year the company paid rent amounting to £36,000 (2023 - £36,000) to the directors.