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COMPANY REGISTRATION NUMBER: 05579803
Perfecta Space Ltd
Filleted Unaudited Financial Statements
31 March 2024
Perfecta Space Ltd
Financial Statements
Year ended 31 March 2024
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 5
Perfecta Space Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
1,897
2,529
Current assets
Debtors
6
132,401
119,424
Creditors: amounts falling due within one year
7
112,747
100,044
---------
---------
Net current assets
19,654
19,380
--------
--------
Total assets less current liabilities
21,551
21,909
Creditors: amounts falling due after more than one year
8
20,913
20,913
Provisions
Taxation including deferred tax
360
481
--------
--------
Net assets
278
515
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
178
415
----
----
Shareholders funds
278
515
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Perfecta Space Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 30 September 2024 , and are signed on behalf of the board by:
Mr J P Roberts
Director
Company registration number: 05579803
Perfecta Space Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 23 Olga Road, Nottingham, NG3 2NW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and equipment
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 4 ).
5. Tangible assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
11,186
15,250
26,436
--------
--------
--------
Depreciation
At 1 April 2023
10,184
13,723
23,907
Charge for the year
250
382
632
--------
--------
--------
At 31 March 2024
10,434
14,105
24,539
--------
--------
--------
Carrying amount
At 31 March 2024
752
1,145
1,897
--------
--------
--------
At 31 March 2023
1,002
1,527
2,529
--------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
4,007
Other debtors
132,401
115,417
---------
---------
132,401
119,424
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
13,361
12,301
Trade creditors
8,475
7,822
Social security and other taxes
86,257
76,323
Other creditors
4,654
3,598
---------
---------
112,747
100,044
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
20,913
20,913
--------
--------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr J P Roberts
78,330
11,354
89,684
--------
--------
--------
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr J P Roberts
83,741
( 5,411)
78,330
--------
------
--------