Perform Better Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06229704

Perform Better Limited

Filleted Unaudited Financial Statements

30 September 2024

Perform Better Limited

Statement of Financial Position

30 September 2024

	30 Sep 24		30 Jun 23
Note	£	£	£

Fixed assets

Tangible assets	4		29,566	36,437

Current assets

Stocks		616,130	583,105
Debtors	5	737,033	773,241
Cash at bank and in hand		10,064	166,239
		-----------	-----------
		1,363,227	1,522,585

Prepayments and accrued income	23,305		15,284

Creditors: amounts falling due within one year	6	487,798		643,483
		-----------		-----------
Net current assets			898,734	894,386
			--------	--------
Total assets less current liabilities			928,300	930,823

Creditors: amounts falling due after more than one year	7		11,598	55,533

Provisions		7,180	6,923

Accruals and deferred income	90,155	15,325
	--------	--------
Net assets	819,367	853,042
	--------	--------

Capital and reserves

Called up share capital	8	4	4
Profit and loss account		819,363	853,038
		--------	--------
Shareholders funds		819,367	853,042
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Perform Better Limited

Statement of Financial Position (continued)

30 September 2024

These financial statements were approved by the board of directors and authorised for issue on 17 June 2025 , and are signed on behalf of the board by:

M. Gladwin	A. Yule
Director	Director

Company registration number: 06229704

Perform Better Limited

Notes to the Financial Statements

Period from 1 July 2023 to 30 September 2024

1. General information

The company is a private company limited by shares, registered and trading in England and Wales with company number 06229704 . The address of the registered office is Rhodes House Northfield Road, Kineton Road Industrial Estate, Southam, CV47 0FG, England.

2. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% reducing balance
Fixtures and fittings	-	20% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	33% straight line
Showroom and demo equipment	-	15 % reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

The company only has basic financial instruments. - Financial Assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

3. Employee numbers

The average number of persons employed by the company during the period amounted to 20 (2023: 20 ).

4. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Showroom and demo equipment	Total
	£	£	£	£	£	£
Cost
At 1 Jul 2023 and 30 Sep 2024	2,669	18,433	52,680	46,582	57,670	178,034
	------	-------	-------	-------	-------	--------
Depreciation
At 1 Jul 2023	2,003	12,547	48,982	46,021	32,045	141,598
Charge for the period	133	1,177	1,155	561	3,844	6,870
	------	-------	-------	-------	-------	--------
At 30 Sep 2024	2,136	13,724	50,137	46,582	35,889	148,468
	------	-------	-------	-------	-------	--------
Carrying amount
At 30 Sep 2024	533	4,709	2,543	–	21,781	29,566
	------	-------	-------	-------	-------	--------
At 30 Jun 2023	666	5,886	3,698	561	25,625	36,436
	------	-------	-------	-------	-------	--------

5. Debtors

	30 Sep 24	30 Jun 23
	£	£
Trade debtors	717,185	754,018
Other debtors	19,848	19,223
	--------	--------
	737,033	773,241
	--------	--------

6. Creditors: amounts falling due within one year

	30 Sep 24	30 Jun 23
	£	£
Bank loans and overdrafts	56,282	62,500
Trade creditors	275,322	367,987
Social security and other taxes	152,353	204,661
Other creditors	3,841	8,335
	--------	--------
	487,798	643,483
	--------	--------

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

	30 Sep 24	30 Jun 23
	£	£
Bank loans and overdrafts	11,598	55,533
	-------	-------

The bank loans are secured by a fixed and floating charge over the company's assets.

8. Called up share capital

Issued, called up and fully paid

	30 Sep 24		30 Jun 23
	No.	£	No.	£
Ordinary shares of £ 1 each	2	2	2	2
Ordinary Class 2 shares of £ 1 each	2	2	2	2
	----	----	----	----
	4	4	4	4
	----	----	----	----

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	30 Sep 24	30 Jun 23
	£	£
Not later than 1 year	116,985	110,960
Later than 1 year and not later than 5 years	384,928	433,037
	--------	--------
	501,913	543,997
	--------	--------

10. Directors' advances, credits and guarantees

At the reporting date the directors loan account was in debit by £362 (2023: (£3,414)). There is no fixed term for repayment and no interest is charged. Transactions during the year can be summarised as follows:

		2024
		£
	Opening Balance Brought Forward	(3,414)
	Net Advance (0% Interest)	3,776
	Closing Balance Carried Forward	362

11. Related party transactions

The company was under control of M. Gladwin and A. Yule during the current and previous period.