REGISTERED NUMBER: 09171630 (England and Wales)

PERFECTION CLOTHING LTD

Unaudited Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

Mr R Bahia

REGISTERED OFFICE:

Unit 9, Percy Business Park

Rounds Green Road

Oldbury

West Midlands

B69 2RD

REGISTERED NUMBER:

09171630 (England and Wales)

ACCOUNTANTS:

Lancaster Haskins Limited

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

FIXED ASSETS

Tangible assets

4

74,584

65,919

CURRENT ASSETS

Stocks

644,576

660,818

Debtors

5

707,126

522,154

Cash at bank

472,894

390,283

1,824,596

1,573,255

CREDITORS

Amounts falling due within one year

6

444,185

396,372

NET CURRENT ASSETS

1,380,411

1,176,883

TOTAL ASSETS LESS CURRENT LIABILITIES

1,454,995

1,242,802

CREDITORS

Amounts falling due after more than one year

7

(22,587

)

(27,227

)

PROVISIONS FOR LIABILITIES

(11,237

)

(7,444

)

NET ASSETS

1,421,171

1,208,131

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,421,071

1,208,031

1,421,171

1,208,131

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

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

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 29 August 2025 and were signed by:

Mr R Bahia - Director

1.	STATUTORY INFORMATION

Perfection Clothing Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% Straight Line

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.

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.

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 the 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.

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 11 (2023 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

11,841

31,436

53,750

12,872

109,899

Additions

-

-

22,900

4,498

27,398

At 31 December 2024

11,841

31,436

76,650

17,370

137,297

DEPRECIATION

At 1 January 2024

6,157

7,409

18,477

11,937

43,980

Charge for year

1,421

6,006

9,295

2,011

18,733

At 31 December 2024

7,578

13,415

27,772

13,948

62,713

NET BOOK VALUE

At 31 December 2024

4,263

18,021

48,878

3,422

74,584

At 31 December 2023

5,684

24,027

35,273

935

65,919

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2024

and 31 December 2024

53,750

DEPRECIATION

At 1 January 2024

18,477

Charge for year

8,818

At 31 December 2024

27,295

NET BOOK VALUE

At 31 December 2024

26,455

At 31 December 2023

35,273

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

236,650

452,045

Other debtors

-

2,000

Amounts owed by participating

interests

442,110

51,200

Prepayments

28,366

16,909

707,126

522,154

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

4,641

3,969

Trade creditors

188,845

136,692

Social security and other taxes

99,998

73,336

Other creditors

8,060

1,931

Directors' current accounts

140,842

177,043

Accrued expenses

1,799

3,401

444,185

396,372

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

22,587

27,227

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts

27,228

31,196

Hire purchase balances are secured against the assets to which they relate.

9.	FINANCIAL COMMITMENTS

Rental charges due to be paid within the next twelve months amount to £58,000. This commitment does not constitute a lease agreement.

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year there has been a net repayment of £36,201 on R Bahia's loan account.

As at the balance sheet date £140,842 (2023: £177,043) was outstanding to the director from the company.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr R Bahia.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Perfection Clothing Ltd for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Perfection Clothing Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Perfection Clothing Ltd and state those matters that we have agreed to state to the director of Perfection Clothing Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Perfection Clothing Ltd and its director for our work or for this report.

It is your duty to ensure that Perfection Clothing Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Perfection Clothing Ltd. You consider that Perfection Clothing Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Perfection Clothing Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lancaster Haskins Limited

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

29 August 2025