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Company Registration No. NI647657 (Northern Ireland)
Perfect Pair Company Ltd Unaudited accounts for the year ended 31 August 2024
Perfect Pair Company Ltd Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,953 
2,932 
Current assets
Inventories
133,873 
187,811 
Debtors
- 
680 
Cash at bank and in hand
34,411 
21,220 
168,284 
209,711 
Creditors: amounts falling due within one year
(88,160)
(115,999)
Net current assets
80,124 
93,712 
Total assets less current liabilities
82,077 
96,644 
Creditors: amounts falling due after more than one year
(22,469)
(31,644)
Net assets
59,608 
65,000 
Capital and reserves
Called up share capital
20,000 
20,000 
Profit and loss account
39,608 
45,000 
Shareholders' funds
59,608 
65,000 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2025 and were signed on its behalf by
Donna Hunter Director Company Registration No. NI647657
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Perfect Pair Company Ltd Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
Perfect Pair Company Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI647657. The registered office is Unit 2 Channel Wharf, 21 Old Channel Road, Belfast, Antrim, BT3 9DE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The directors believe that Perfect Pair Company Ltd has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of footwear is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% straight line
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
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Perfect Pair Company Ltd Notes to the Accounts for the year ended 31 August 2024
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The pension costs charged in the financial statements represent the contribution payable by the company during the year. The regular cost of providing retirement pensions and related benefits is charged to the profit and loss account over the employee's service lives on a basis of a constant percentage of earnings.
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 September 2023
7,161 
At 31 August 2024
7,161 
Depreciation
At 1 September 2023
4,229 
Charge for the year
979 
At 31 August 2024
5,208 
Net book value
At 31 August 2024
1,953 
At 31 August 2023
2,932 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
- 
680 
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Perfect Pair Company Ltd Notes to the Accounts for the year ended 31 August 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
- 
6,815 
VAT
20,957 
16,860 
Trade creditors
36,000 
74,647 
Taxes and social security
4,971 
5,210 
Loans from directors
25,100 
10,620 
Accruals
1,132 
1,847 
88,160 
115,999 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
19,119 
28,294 
Other creditors
3,350 
3,350 
22,469 
31,644 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
20,000 Ordinary shares of £1 each
20,000 
20,000 
9
Average number of employees
During the year the average number of employees was 12 (2023: 12).
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