Silverfin false 31/03/2023 01/04/2022 31/03/2023 B M Garrood 11/04/2014 N K Mein 11/04/2014 P A Scott 11/04/2014 17 October 2023 The principal activity of the Company during the financial year was letting of commercial property. 08991858 2023-03-31 08991858 bus:Director1 2023-03-31 08991858 bus:Director2 2023-03-31 08991858 bus:Director3 2023-03-31 08991858 2022-03-31 08991858 core:CurrentFinancialInstruments 2023-03-31 08991858 core:CurrentFinancialInstruments 2022-03-31 08991858 core:Non-currentFinancialInstruments 2023-03-31 08991858 core:Non-currentFinancialInstruments 2022-03-31 08991858 core:ShareCapital 2023-03-31 08991858 core:ShareCapital 2022-03-31 08991858 core:RetainedEarningsAccumulatedLosses 2023-03-31 08991858 core:RetainedEarningsAccumulatedLosses 2022-03-31 08991858 core:InvestmentPropertyIncludedWithinPPE 2022-03-31 08991858 core:PlantMachinery 2022-03-31 08991858 core:InvestmentPropertyIncludedWithinPPE 2023-03-31 08991858 core:PlantMachinery 2023-03-31 08991858 bus:OrdinaryShareClass1 2023-03-31 08991858 2022-04-01 2023-03-31 08991858 bus:FullAccounts 2022-04-01 2023-03-31 08991858 bus:SmallEntities 2022-04-01 2023-03-31 08991858 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08991858 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08991858 bus:Director1 2022-04-01 2023-03-31 08991858 bus:Director2 2022-04-01 2023-03-31 08991858 bus:Director3 2022-04-01 2023-03-31 08991858 core:PlantMachinery core:TopRangeValue 2022-04-01 2023-03-31 08991858 2021-04-01 2022-03-31 08991858 core:InvestmentPropertyIncludedWithinPPE 2022-04-01 2023-03-31 08991858 core:PlantMachinery 2022-04-01 2023-03-31 08991858 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 08991858 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 08991858 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08991858 (England and Wales)

PERRIAMS PROPERTY LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

PERRIAMS PROPERTY LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

PERRIAMS PROPERTY LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2023
PERRIAMS PROPERTY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTORS B M Garrood
N K Mein
P A Scott
REGISTERED OFFICE 46-47 Cowick Street
Exeter
EX4 1AP
England
United Kingdom
COMPANY NUMBER 08991858 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
PERRIAMS PROPERTY LIMITED

BALANCE SHEET

As at 31 March 2023
PERRIAMS PROPERTY LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 350,000 465,084
350,000 465,084
Current assets
Debtors 28,800 0
Cash at bank and in hand 4 6,975 8,502
35,775 8,502
Creditors: amounts falling due within one year 5 ( 146,322) ( 145,731)
Net current liabilities (110,547) (137,229)
Total assets less current liabilities 239,453 327,855
Creditors: amounts falling due after more than one year 6 ( 195,406) ( 213,901)
Net assets 44,047 113,954
Capital and reserves
Called-up share capital 7 3 3
Profit and loss account 44,044 113,951
Total shareholders' funds 44,047 113,954

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Perriams Property Limited (registered number: 08991858) were approved and authorised for issue by the Board of Directors on 17 October 2023. They were signed on its behalf by:

P A Scott
Director
N K Mein
Director
PERRIAMS PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
PERRIAMS PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Perriams Property Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 46-47 Cowick Street, Exeter, EX4 1AP, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the tenant.
Turnover represents the rents receivable from letting the property, excluding value added tax.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Investment property not depreciated
Plant and machinery 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Investment property Plant and machinery Total
£ £ £
Cost
At 01 April 2022 465,084 6,851 471,935
Revaluations ( 115,084) 0 ( 115,084)
At 31 March 2023 350,000 6,851 356,851
Accumulated depreciation
At 01 April 2022 0 6,851 6,851
At 31 March 2023 0 6,851 6,851
Net book value
At 31 March 2023 350,000 0 350,000
At 31 March 2022 465,084 0 465,084

Included within the net book value of Investment Property above is £350,000 (2022 - £465,084) in respect of freehold land and buildings.

The fair value of the company's investment property was reviewed by Stratton Creber Commercial Property Consultants at 9 January 2023 and the valuation of £350,000 was confirmed to be appropriate.

4. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 6,975 8,502

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 20,880 19,814
Amounts owed to directors 80,368 80,368
Accruals 1,150 1,075
Corporation tax 3,850 4,400
Other taxation and social security 1,200 1,200
Other creditors 38,874 38,874
146,322 145,731

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

2023 2022
£ £
Bank loans 195,406 213,901

Creditors include bank loans repayable by instalments of £103,497 (2022 - £127,542) due after more than five years.

The bank loan is secured by a fixed and floating charge over the company's property.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
3 Ordinary Shares shares of £ 1.00 each 3 3

8. Related party transactions

Other related party transactions

2023 2022
£ £
Entities with joint control or significant influence 38,874 38,874

Rent of £36,000 was charged in the year and was fully paid. The loan was interest free until February 2023, interest of 2.6% above the base rate was charged from this date. The loan is repayable on demand.

9. Reserves

Included in reserves is non-distributable reserves of -£86,284 (2022 - £Nil) from the revaluation of Investment Property.