Acorah Software Products - Accounts Production 16.0.110 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 06470079 Mr Robin Dixon Perfect Group (Yorkshire) Ltd Unit 2 Horace Waller VC Parade, Dewsbury, WF12 7RF true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06470079 2023-05-31 06470079 2024-05-31 06470079 2023-06-01 2024-05-31 06470079 frs-core:CurrentFinancialInstruments 2024-05-31 06470079 frs-core:Non-currentFinancialInstruments 2024-05-31 06470079 frs-core:ComputerEquipment 2024-05-31 06470079 frs-core:ComputerEquipment 2023-06-01 2024-05-31 06470079 frs-core:ComputerEquipment 2023-05-31 06470079 frs-core:FurnitureFittings 2024-05-31 06470079 frs-core:FurnitureFittings 2023-06-01 2024-05-31 06470079 frs-core:FurnitureFittings 2023-05-31 06470079 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-05-31 06470079 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 06470079 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-31 06470079 frs-core:MotorVehicles 2024-05-31 06470079 frs-core:MotorVehicles 2023-06-01 2024-05-31 06470079 frs-core:MotorVehicles 2023-05-31 06470079 frs-core:WithinOneYear 2024-05-31 06470079 frs-core:ShareCapital 2024-05-31 06470079 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 06470079 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 06470079 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 06470079 frs-bus:SmallEntities 2023-06-01 2024-05-31 06470079 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 06470079 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 06470079 1 2023-06-01 2024-05-31 06470079 frs-bus:Director1 2023-06-01 2024-05-31 06470079 frs-bus:Director1 2023-05-31 06470079 frs-bus:Director1 2024-05-31 06470079 frs-core:CurrentFinancialInstruments 3 2024-05-31 06470079 frs-core:CurrentFinancialInstruments 4 2024-05-31 06470079 frs-core:CurrentFinancialInstruments 5 2024-05-31 06470079 frs-countries:EnglandWales 2023-06-01 2024-05-31 06470079 2022-05-31 06470079 2023-05-31 06470079 2022-06-01 2023-05-31 06470079 frs-core:CurrentFinancialInstruments 2023-05-31 06470079 frs-core:Non-currentFinancialInstruments 2023-05-31 06470079 frs-core:WithinOneYear 2023-05-31 06470079 frs-core:ShareCapital 2023-05-31 06470079 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 06470079 frs-core:CurrentFinancialInstruments 3 2023-05-31 06470079 frs-core:CurrentFinancialInstruments 4 2023-05-31 06470079 frs-core:CurrentFinancialInstruments 5 2023-05-31
Registered number: 06470079
Perfect Finishing Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
DEB Chartered Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06470079
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 66,778 51,289
66,778 51,289
CURRENT ASSETS
Stocks 5 1,800 2,000
Debtors 6 309,153 305,050
Cash at bank and in hand 218,391 148,925
529,344 455,975
Creditors: Amounts Falling Due Within One Year 7 (168,846 ) (182,730 )
NET CURRENT ASSETS (LIABILITIES) 360,498 273,245
TOTAL ASSETS LESS CURRENT LIABILITIES 427,276 324,534
Creditors: Amounts Falling Due After More Than One Year 8 36,303 (7,318 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (8,684 ) (3,582 )
NET ASSETS 454,895 313,634
CAPITAL AND RESERVES
Called up share capital 10 10 10
Profit and Loss Account 454,885 313,624
SHAREHOLDERS' FUNDS 454,895 313,634
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Robin Dixon
Director
02/12/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Perfect Finishing Solutions Limited Registered number 06470079 is a limited by shares company incorporated in England & Wales. The Registered Office is 19 Middlewoods Way, Wharncliffe Business Park, Carlton, Barnsley, S71 3HR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Structural Improvements 25% reducing balance
Motor Vehicles 25% reducing balance
Equipment, fixtures and fittings 25% reducing balance
Office Equipment 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.6. Employer-financed retirement benefit scheme (efrbs)
The company has established trusts for the benefit of employees and persons connected with them. Monies held in
these trusts are held by independent trustees and managed at their discretion. The trustees are empowered to provide
both retirement and other employee benefits.
Where the company retains future economic benefit from, and has de facto control of the assets and liabilities of the
trust, they are accounted for as assets and liabilities of the company until the earlier of the date that an allocation of
trust funds to employees in respect of past services is declared and the date that assets of the trust vest in identified
individuals.
Where monies held in a trust are determined by the company on the basis of employees’ past services to the business
and the company can obtain no future economic benefit from those monies, such monies, whether in the trust or
accrued for by the company are charged to the profit and loss account in the period to which
they relate.
Where monies held in a trust are determined by the company on the basis of employees’ past services to the business
and are payable after completion of the employment, such monies are charged to the profit and loss account in the
period during which services are rendered by employees.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 25 (2023: 45)
25 45
Page 3
Page 4
4. Tangible Assets
Land & Property
Structural Improvements Motor Vehicles Equipment, fixtures and fittings Office Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 5,774 88,667 58,749 32,209 185,399
Additions - 17,331 20,096 322 37,749
As at 31 May 2024 5,774 105,998 78,845 32,531 223,148
Depreciation
As at 1 June 2023 5,173 51,260 51,166 26,511 134,110
Provided during the period 150 13,685 6,920 1,505 22,260
As at 31 May 2024 5,323 64,945 58,086 28,016 156,370
Net Book Value
As at 31 May 2024 451 41,053 20,759 4,515 66,778
As at 1 June 2023 601 37,407 7,583 5,698 51,289
5. Stocks
2024 2023
£ £
Stock 1,800 2,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 118,848 118,748
Other Debtors - EFRBS asset 80 80
S455 Corporation Tax 57,653 57,653
Director's loan account 130,629 127,626
Amounts owed by associates 1,943 943
309,153 305,050
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 10,648 10,648
Corporation tax 51,003 39,115
PAYE control 2,484 8,016
VAT 61,951 45,343
Pension control 517 1,241
Funding Circle Loan 29,517 76,202
Credit Card Account 12,284 1,757
Accruals and deferred income 442 408
168,846 182,730
Page 4
Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 9,995 19,948
Tax Scheme Settlement Liablity (46,298 ) (12,630 )
(36,303 ) 7,318
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 8,684 3,582
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 47,997 20,000
47,997 20,000
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Robin Dixon 127,626 28,000 31,003 - 130,629
The above loan is unsecured, interest free and repayable on demand.
13. Related Party Transactions
The company is controlled by Mr R Dixon, director of the company.
The balance on the director’s loan account of Mr R Dixon at 31st May 2024 was 130,629 (2023 - £127,626) due to the company.
14. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Perfect Group (Yorkshire) Ltd . Perfect Group (Yorkshire) Ltd was incorporated in England & Wales. Copies of the group accounts may be obtained from the secretary, Unit 2 Horace Waller VC Parade, Dewsbury, WF12 7RF . The ultimate controlling party is Perfect Group (Yorkshire) Ltd who controls 100% of the shares of Perfect Finishing Solutions Limited .
Page 5