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REGISTERED NUMBER: 05464149 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Perfection Alloys Limited

Perfection Alloys Limited (Registered number: 05464149)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Perfection Alloys Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: Mr F A C Dick





REGISTERED OFFICE: Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW





REGISTERED NUMBER: 05464149 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Perfection Alloys Limited (Registered number: 05464149)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 189,541 179,781
189,541 179,781

CURRENT ASSETS
Stocks 20,371 20,371
Debtors 6 433,390 371,934
Investments 7 12 12
Cash at bank and in hand 399,084 381,209
852,857 773,526
CREDITORS
Amounts falling due within one year 8 (286,702 ) (254,792 )
NET CURRENT ASSETS 566,155 518,734
TOTAL ASSETS LESS CURRENT
LIABILITIES

755,696

698,515

CREDITORS
Amounts falling due after more than one
year

9

(11,417

)

(19,167

)

PROVISIONS FOR LIABILITIES (33,151 ) (41,114 )
NET ASSETS 711,128 638,234

CAPITAL AND RESERVES
Called up share capital 1,200 1,200
Retained earnings 709,928 637,034
SHAREHOLDERS' FUNDS 711,128 638,234

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Alloys Limited (Registered number: 05464149)

Balance Sheet - continued
30 June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 March 2025 and were signed by:





Mr F A C Dick - Director


Perfection Alloys Limited (Registered number: 05464149)

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

1. STATUTORY INFORMATION

Perfection Alloys 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
The costs associated with purchasing a domain name are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell on a first in first out basis 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 Statement of Income and Retained Earnings, 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.

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.

Perfection Alloys Limited (Registered number: 05464149)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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 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 25 (2023 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Website
Goodwill costs Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 48,000 500 48,500
AMORTISATION
At 1 July 2023
and 30 June 2024 48,000 500 48,500
NET BOOK VALUE
At 30 June 2024 - - -
At 30 June 2023 - - -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2023 15,452 95,567 6,979
Additions 46,960 9,249 335
Disposals - - -
At 30 June 2024 62,412 104,816 7,314
DEPRECIATION
At 1 July 2023 127 57,662 5,641
Charge for year 5,347 7,073 272
Eliminated on disposal - - -
At 30 June 2024 5,474 64,735 5,913
NET BOOK VALUE
At 30 June 2024 56,938 40,081 1,401
At 30 June 2023 15,325 37,905 1,338

Perfection Alloys Limited (Registered number: 05464149)

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

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 243,129 3,781 364,908
Additions 21,645 1,378 79,567
Disposals (62,531 ) - (62,531 )
At 30 June 2024 202,243 5,159 381,944
DEPRECIATION
At 1 July 2023 119,767 1,930 185,127
Charge for year 24,051 646 37,389
Eliminated on disposal (30,113 ) - (30,113 )
At 30 June 2024 113,705 2,576 192,403
NET BOOK VALUE
At 30 June 2024 88,538 2,583 189,541
At 30 June 2023 123,362 1,851 179,781

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 189,038 203,043
Other debtors 244,352 168,891
433,390 371,934

Trade debtors of £187,201 (2023: £198,398) are subject to a factoring agreement. Other debtors includes prepayments and accrued income of £25,292 (2023: £33,286).

7. CURRENT ASSET INVESTMENTS
30.6.24 30.6.23
£    £   
Listed investments 12 12

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 9,999 41,058
Hire purchase contracts 1,500 -
Trade creditors 37,702 28,875
Taxation and social security 210,268 105,232
Other creditors 27,233 79,627
286,702 254,792

Other creditors includes accruals and deferred income of £23,884 (2023: £61,620).

Perfection Alloys Limited (Registered number: 05464149)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 9,167 19,167
Hire purchase contracts 2,250 -
11,417 19,167

10. OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments, guarantees and contingencies that are not included in the balance sheet is £315,000 (2023 - £332,500).

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
Mr F A C Dick
Balance outstanding at start of year - -
Amounts advanced 108,701 -
Amounts repaid (108,701 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The loan was repayable on demand. Interest has been charged at HMRC's official rate of interest.