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REGISTERED NUMBER: 10326464 (England and Wales)















MY PERFECT DRIVE LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024






MY PERFECT DRIVE LIMITED (REGISTERED NUMBER: 10326464)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MY PERFECT DRIVE LIMITED

COMPANY INFORMATION
for the year ended 31 August 2024







DIRECTOR: K R Brotherton





SECRETARY: K R Brotherton





REGISTERED OFFICE: 1 Peace Hall Lane
Fenay Bridge
Huddersfield
West Yorkshire
HD8 0BE





REGISTERED NUMBER: 10326464 (England and Wales)





ACCOUNTANTS: SMH Sheards
Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS

MY PERFECT DRIVE LIMITED (REGISTERED NUMBER: 10326464)

BALANCE SHEET
31 August 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 12,346 4,325

CURRENT ASSETS
Debtors 5 12,055 565
Cash at bank 26,413 13,680
38,468 14,245
CREDITORS
Amounts falling due within one year 6 (37,993 ) (27,342 )
NET CURRENT ASSETS/(LIABILITIES) 475 (13,097 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,821

(8,772

)

CREDITORS
Amounts falling due after more than one
year

7

(3,954

)

(4,584

)

PROVISIONS FOR LIABILITIES 9 (3,087 ) -
NET ASSETS/(LIABILITIES) 5,780 (13,356 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 5,778 (13,358 )
SHAREHOLDERS' FUNDS 5,780 (13,356 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MY PERFECT DRIVE LIMITED (REGISTERED NUMBER: 10326464)

BALANCE SHEET - continued
31 August 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 director and authorised for issue on 14 January 2025 and were signed by:





K R Brotherton - Director


MY PERFECT DRIVE LIMITED (REGISTERED NUMBER: 10326464)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 August 2024


1. STATUTORY INFORMATION

My Perfect Drive 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The directors and shareholders have indicated their willingness to support the company. Hence the company continues to adopt the going concern basis of preparation.

Turnover
Turnover represents the invoiced value of services net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Financial instruments
Basic financial assets, which include cash and bank balances, are initially measured at transaction price including transaction costs.

Financial assets, other than those held at fair value through profit or loss, are assessed for indicators of impairment at each balance sheet date, with any impairment losses being recognised in profit or loss. If there is a decrease in the impairment loss arising from an event accruing after the impairment was recognised, the impairment is reversed in profit or loss.

Financial liabilities are classified depending on the substance of the contractual arrangements entered into.

Basic financial liabilities, including other creditors, bank loans, finance leases, and accruals, are initially recognised at transaction price.

Debt instruments are subsequently measured at amortised cost using the effective interest method.

Financial assets and liabilities are derecognised when the company's contractual obligations are settled, cancelled or they expire.

Taxation
Taxation for the year comprises current 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 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.

MY PERFECT DRIVE LIMITED (REGISTERED NUMBER: 10326464)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2023 1,150 18,367 220 19,737
Additions - 15,998 - 15,998
Disposals - (18,367 ) - (18,367 )
At 31 August 2024 1,150 15,998 220 17,368
DEPRECIATION
At 1 September 2023 786 14,553 73 15,412
Charge for year 91 4,000 72 4,163
Eliminated on disposal - (14,553 ) - (14,553 )
At 31 August 2024 877 4,000 145 5,022
NET BOOK VALUE
At 31 August 2024 273 11,998 75 12,346
At 31 August 2023 364 3,814 147 4,325

MY PERFECT DRIVE LIMITED (REGISTERED NUMBER: 10326464)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2023 18,367
Additions 15,998
Disposals (18,367 )
At 31 August 2024 15,998
DEPRECIATION
At 1 September 2023 14,553
Charge for year 4,000
Eliminated on disposal (14,553 )
At 31 August 2024 4,000
NET BOOK VALUE
At 31 August 2024 11,998
At 31 August 2023 3,814

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10,986 -
Other debtors 1,069 565
12,055 565

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,500 2,500
Hire purchase contracts 4,170 10,500
Taxation and social security 13,620 4,268
Other creditors 17,703 10,074
37,993 27,342

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 2,084 4,584
Hire purchase contracts 1,870 -
3,954 4,584

MY PERFECT DRIVE LIMITED (REGISTERED NUMBER: 10326464)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 4,584 7,084
Hire purchase contracts 6,040 10,500
10,624 17,584

The bank loan is secured by Government backed initiatives. Hire purchase creditors are secured against the assets to which they relate.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,087 -

Deferred
tax
£   
Provided during year 3,087
Balance at 31 August 2024 3,087

10. RELATED PARTY DISCLOSURES

Balance owing to the director through the directors loan account was £15,448.37 (2023 £7,177).