Peromnia Limited SC034604 false 2022-04-06 2023-04-05 2023-04-05 The principal activity of the company is to hold and operate investments. Digita Accounts Production Advanced 6.30.9574.0 true true SC034604 2022-04-06 2023-04-05 SC034604 2023-04-05 SC034604 bus:OrdinaryShareClass1 2023-04-05 SC034604 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-05 SC034604 bus:SmallEntities 2022-04-06 2023-04-05 SC034604 bus:AuditExemptWithAccountantsReport 2022-04-06 2023-04-05 SC034604 bus:FullAccounts 2022-04-06 2023-04-05 SC034604 bus:SmallCompaniesRegimeForAccounts 2022-04-06 2023-04-05 SC034604 bus:RegisteredOffice 2022-04-06 2023-04-05 SC034604 bus:CompanySecretary1 2022-04-06 2023-04-05 SC034604 bus:Director1 2022-04-06 2023-04-05 SC034604 bus:Director2 2022-04-06 2023-04-05 SC034604 bus:Director3 2022-04-06 2023-04-05 SC034604 bus:Director4 2022-04-06 2023-04-05 SC034604 bus:OrdinaryShareClass1 2022-04-06 2023-04-05 SC034604 bus:PrivateLimitedCompanyLtd 2022-04-06 2023-04-05 SC034604 bus:Agent1 2022-04-06 2023-04-05 SC034604 countries:Scotland 2022-04-06 2023-04-05 SC034604 2021-04-06 2022-04-05 SC034604 2022-04-05 SC034604 bus:OrdinaryShareClass1 2022-04-05 SC034604 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-05 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC034604

Peromnia Limited

Unaudited Filleted Financial Statements

for the Year Ended 5 April 2023

 

Peromnia Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 6

 

Peromnia Limited

Company Information

Directors

Mrs M Gallo

Mr R A Gallo

Mr F Gallo

Mrs R Margiotta

Company secretary

Mrs C Viola

Registered office




Registered number

91 West Savile Terrace
Edinburgh
Lothian
EH9 3DP

SC034604
 

Accountants

Brown, Scott & Main
Chartered Accountants
91 West Savile Terrace
Edinburgh
Lothian
EH9 3DP

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Peromnia Limited
for the Year Ended 5 April 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Peromnia Limited for the year ended 5 April 2023 as set out on pages 3 to 6 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 of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance

This report is made solely to you, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial information of Peromnia Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company for our work or for this report.

It is your duty to ensure that Peromnia Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Peromnia Limited. You consider that Peromnia Limited 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 accounts of Peromnia Limited. 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 accounts.

......................................

Brown, Scott & Main
Chartered Accountants
91 West Savile Terrace
Edinburgh
Lothian
EH9 3DP

26 October 2023

 

Peromnia Limited

(Registration number: SC034604)
Balance Sheet as at 5 April 2023

Note

2023
£

2022
£

Current assets

 

Investments

5

1,364,624

1,375,632

Cash at bank and in hand

 

27,492

34,959

 

1,392,116

1,410,591

Creditors: Amounts falling due within one year

6

(20,900)

(20,978)

Total assets less current liabilities

 

1,371,216

1,389,613

Provisions for liabilities

7

(44,044)

(53,450)

Net assets

 

1,327,172

1,336,163

Capital and reserves

 

Called up share capital

8

21,000

21,000

Non distributable reserve

187,769

227,867

Retained earnings

1,118,403

1,087,296

Shareholders' funds

 

1,327,172

1,336,163

For the financial year ending 5 April 2023 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 accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 October 2023 and signed on its behalf by:
 

.........................................
Mr R A Gallo
Director

 

Peromnia Limited

Notes to the Financial Statements for the Year Ended 5 April 2023

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
91 West Savile Terrace
Edinburgh
Lothian
EH9 3DP
UK

Registered number: SC034604

2

Accounting policies

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic Financial Assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market value rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic Financial Liabilities
Basic financial liabilities, including creditors and shareholders' loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

 

Going concern

The financial statements have been prepared on the going concern basis. The directors consider this basis is appropriate as the company is supported by the value of its investments and it continues to meet its day to day commitments from working capital as they fall due. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover - Investment income

Turnover represents dividend income received from listed investments.

 

Peromnia Limited

Notes to the Financial Statements for the Year Ended 5 April 2023

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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 that have been enacted or substantively enacted by the balance sheet date.

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 unrealised gains and 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.

Current asset investments
Current asset investments comprise publicly traded ordinary shares and cash deposits available for investment or withdrawal at short notice. Investments in publicly traded ordinary shares are measured at fair value with changes in fair value recognised in profit or loss. This is transferred, for ease of identification, to a non distributable reserve which displays the cumulative unrealised surplus or deficit on revaluation net of deferred taxation. This transfer and the resultant balances are shown in the notes to the financial statements.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

4

Taxation

2023

2022

£

£

UK corporation tax

(78)

-

Deferred tax

(9,406)

9,992

(9,484)

9,992

5

Current asset investments

2023
£

2022
£

Listed investments

1,295,670

1,253,913

Investment deposit

68,954

121,719

1,364,624

1,375,632

 

Peromnia Limited

Notes to the Financial Statements for the Year Ended 5 April 2023

Listed investments stated at original cost are £1,063,857 (2022 - £972,595).

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

-

78

Accruals and deferred income

3,900

3,900

Other creditors

17,000

17,000

20,900

20,978

Included in other creditors are loans from the shareholders of £17,000 (2022 £17,000). The loans are interest free and have no fixed repayment terms.

7

Provisions for liabilities

2023
£

2022
£

Deferred tax

44,044

53,450

£

Balance at 5 April 2022

53,450

Charge to income statement during the year

(9,406)

Balance at 5 April 2023

44,044

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

21,000

21,000

21,000

21,000