2023-09-012024-08-312024-08-31false12795976PERFECT PEARLS AND PIGMENTS 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PERFECT PEARLS AND PIGMENTS LIMITED

Registered Number
12795976
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

PERFECT PEARLS AND PIGMENTS LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

SHARPE, Jamie

Registered Address

Waterloo House 2 Colchester Road
St. Osyth
Clacton-On-Sea
CO16 8HA

Registered Number

12795976 (England and Wales)
PERFECT PEARLS AND PIGMENTS LIMITED
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets312,11016,147
12,11016,147
Current assets
Stocks450,05055,000
Debtors2,6631,518
Cash at bank and on hand2,2241,434
54,93757,952
Creditors amounts falling due within one year5(65,008)(64,770)
Net current assets (liabilities)(10,071)(6,818)
Total assets less current liabilities2,0399,329
Creditors amounts falling due after one year6(1,152)(8,976)
Net assets887353
Capital and reserves
Profit and loss account887353
Shareholders' funds887353
The financial statements were approved and authorised for issue by the Director on 22 October 2024, and are signed on its behalf by:
SHARPE, Jamie
Director
Registered Company No. 12795976
PERFECT PEARLS AND PIGMENTS LIMITED
Notes to the Financial Statements
for the year ended 31 August 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.
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.
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 profit or loss.
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: 25% reducing balance

Reducing balance (%)
Plant and machinery25
Vehicles25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories 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

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 September 238,42818,3545,26732,049
At 31 August 248,42818,3545,26732,049
Depreciation and impairment
At 01 September 235,4757,6152,81215,902
Charge for year7382,6856144,037
At 31 August 246,21310,3003,42619,939
Net book value
At 31 August 242,2158,0541,84112,110
At 31 August 232,95310,7392,45516,147
4.Stocks

2024

2023

££
Other stocks50,05055,000
Total50,05055,000
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables14,34014,485
Bank borrowings and overdrafts-83
Taxation and social security4,1874,164
Finance lease and HP contracts3,912841
Other creditors42,56945,197
Total65,00864,770
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.
6.Creditors: amounts due after one year

2024

2023

££
Other creditors1,1528,976
Total1,1528,976
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts1,1528,976