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Registration number: 08562804

Perfect-Fit Flooring Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Perfect-Fit Flooring Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

Perfect-Fit Flooring Ltd

Company Information

Director

Robert John Sharkey

Registered office

2 Rame Croft
Rame Cross
Penryn
Cornwall
TR10 9NB

Accountants

Julia Evans Accountants Ltd 79-81 Boslowick Road
Falmouth
Cornwall
TR11 4QD

 

Perfect-Fit Flooring Ltd

(Registration number: 08562804)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

8,197

8,980

Current assets

 

Debtors

6

624

5,466

Cash at bank and in hand

 

10,045

9,628

 

10,669

15,094

Creditors: Amounts falling due within one year

7

(14,350)

(21,607)

Net current liabilities

 

(3,681)

(6,513)

Total assets less current liabilities

 

4,516

2,467

Provisions for liabilities

(1,557)

(1,538)

Net assets

 

2,959

929

Capital and reserves

 

Called up share capital

100

100

Retained earnings

2,859

829

Shareholders' funds

 

2,959

929

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Perfect-Fit Flooring Ltd

(Registration number: 08562804)
Balance Sheet as at 30 June 2024

Approved and authorised by the director on 24 March 2025
 

.........................................
Robert John Sharkey
Director

 

Perfect-Fit Flooring Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
2 Rame Croft
Rame Cross
Penryn
Cornwall
TR10 9NB

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Government grants

Government grants have been recognised under the accrual method.

Tax

Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Perfect-Fit Flooring Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

20% reducing balance

Fixtures and fittings

20% reducing balance

Plant and machinery

20% reducing balance

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 2).

 

Perfect-Fit Flooring Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

2,049

2,245

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2023

3,533

20,086

18,209

41,828

Additions

-

-

1,266

1,266

At 30 June 2024

3,533

20,086

19,475

43,094

Depreciation

At 1 July 2023

2,877

15,801

14,170

32,848

Charge for the year

131

857

1,061

2,049

At 30 June 2024

3,008

16,658

15,231

34,897

Carrying amount

At 30 June 2024

525

3,428

4,244

8,197

At 30 June 2023

656

4,285

4,039

8,980

6

Debtors

Current

2024
£

2023
£

Trade debtors

-

4,111

Prepayments

364

486

Other debtors

260

869

 

624

5,466

 

Perfect-Fit Flooring Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

-

4,444

Trade creditors

 

1,263

2,973

Taxation and social security

 

7,255

2,275

Accruals and deferred income

 

1,535

1,118

Other creditors

 

4,297

10,797

 

14,350

21,607

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

-

4,444