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Company No: 09624845 (England and Wales)

PERFECT CARTEL LTD

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

PERFECT CARTEL LTD

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

PERFECT CARTEL LTD

STATEMENT OF FINANCIAL POSITION

As at 31 August 2024
PERFECT CARTEL LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 25,481 24,821
25,481 24,821
Current assets
Debtors 5 901,184 987,209
Cash at bank and in hand 6 758,116 556,832
1,659,300 1,544,041
Creditors: amounts falling due within one year 7 ( 951,833) ( 775,972)
Net current assets 707,467 768,069
Total assets less current liabilities 732,948 792,890
Creditors: amounts falling due after more than one year 8 ( 12,360) ( 22,354)
Net assets 720,588 770,536
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 720,488 770,436
Total shareholder's funds 720,588 770,536

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Perfect Cartel Ltd (registered number: 09624845) were approved and authorised for issue by the Director. They were signed on its behalf by:

C E Berry
Director

23 January 2025

PERFECT CARTEL LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
PERFECT CARTEL LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Perfect Cartel Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is The Truman Brewery Studio 115, 91 Brick Lane, London, E1 6QL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including the director 6 6

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 September 2023 44,472 44,472
Additions 8,426 8,426
At 31 August 2024 52,898 52,898
Accumulated depreciation
At 01 September 2023 19,651 19,651
Charge for the financial year 7,766 7,766
At 31 August 2024 27,417 27,417
Net book value
At 31 August 2024 25,481 25,481
At 31 August 2023 24,821 24,821

5. Debtors

2024 2023
£ £
Trade debtors 302,997 520,821
Corporation tax 92,217 92,217
Other debtors 505,970 374,171
901,184 987,209

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 758,116 556,832

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,146 10,152
Trade creditors 153,824 66,345
Taxation and social security 96,615 123,313
Other creditors 691,248 576,162
951,833 775,972

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 12,360 22,354

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

10. Related party transactions

Transactions with the entity's director

Advances

Included within debtors is £239,172 (2023: £274,251) that is due from the director. Interest has been charged on the loan of £5,712 (2023: £5,607).