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REGISTERED NUMBER: 04268546 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31st March 2024

for

PERFECTION FOODS LIMITED

PERFECTION FOODS LIMITED (REGISTERED NUMBER: 04268546)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PERFECTION FOODS LIMITED

Company Information
for the Year Ended 31st March 2024







DIRECTOR: Mr Sukhdev Singh Bath





REGISTERED OFFICE: Unit 14&16 Bath House
Regal Drive
Walsall Enterprise Park
Walsall
WS2 9HQ





REGISTERED NUMBER: 04268546 (England and Wales)





ACCOUNTANTS: Brindleys Limited
2 Wheeleys Road
Edgbaston
Birmingham
West Midlands
B15 2LD

PERFECTION FOODS LIMITED (REGISTERED NUMBER: 04268546)

Balance Sheet
31st March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 18,000 18,000
Tangible assets 5 514,998 548,584
532,998 566,584

CURRENT ASSETS
Stocks 326,024 206,811
Debtors 6 1,319,613 1,271,827
Cash at bank and in hand 84,977 193,287
1,730,614 1,671,925
CREDITORS
Amounts falling due within one year 7 820,565 955,125
NET CURRENT ASSETS 910,049 716,800
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,443,047

1,283,384

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 8 1,443,043 1,283,380
1,443,047 1,283,384

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

PERFECTION FOODS LIMITED (REGISTERED NUMBER: 04268546)

Balance Sheet - continued
31st March 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 21st January 2025 and were signed by:





Mr Sukhdev Singh Bath - Director


PERFECTION FOODS LIMITED (REGISTERED NUMBER: 04268546)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

PERFECTION FOODS 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred 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 or deferred 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.


PERFECTION FOODS LIMITED (REGISTERED NUMBER: 04268546)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2023 - 49 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st April 2023
and 31st March 2024 18,000
NET BOOK VALUE
At 31st March 2024 18,000
At 31st March 2023 18,000

PERFECTION FOODS LIMITED (REGISTERED NUMBER: 04268546)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st April 2023 297,761 538,511 198,313 57,819 1,092,404
Additions - 5,000 - - 5,000
At 31st March 2024 297,761 543,511 198,313 57,819 1,097,404
DEPRECIATION
At 1st April 2023 - 413,918 74,215 55,687 543,820
Charge for year - 19,439 18,614 533 38,586
At 31st March 2024 - 433,357 92,829 56,220 582,406
NET BOOK VALUE
At 31st March 2024 297,761 110,154 105,484 1,599 514,998
At 31st March 2023 297,761 124,593 124,098 2,132 548,584

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 668,696 876,795
Amounts owed by group undertakings 508,524 334,801
Other debtors 142,393 60,231
1,319,613 1,271,827

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 738,132 903,817
Taxation and social security 49,458 16,498
Other creditors 32,975 34,810
820,565 955,125

PERFECTION FOODS LIMITED (REGISTERED NUMBER: 04268546)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

8. RESERVES
Retained
earnings
£   

At 1st April 2023 1,283,380
Profit for the year 1,159,663
Dividends (1,000,000 )
At 31st March 2024 1,443,043

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Perfection Foods Properties Limited which owns 100% share capital of
Perfection Foods Limited