Peregrine US Limited
Unaudited Financial Statements
For the year ended 28 February 2023
Pages for Filing with Registrar
Company Registration No. 11170006 (England and Wales)
Peregrine US Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Peregrine US Limited
Balance Sheet
As at 28 February 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
62
62
Current assets
Debtors
5
1
1
Creditors: amounts falling due within one year
6
(62)
(62)
Net current liabilities
(61)
(61)
Net assets
1
1
Capital and reserves
-
-
Called up share capital
7
1
1

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 22 February 2024
A  Layzell-Payne
Director
Company Registration No. 11170006
Peregrine US Limited
Notes to the Financial Statements
For the year ended 28 February 2023
Page 2
1
Accounting policies
Company information

Peregrine US Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2nd Floor, 19-20 Great Sutton Street, London, United Kingdom, EC1V 0DR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Peregrine US Limited
Notes to the Financial Statements (Continued)
For the year ended 28 February 2023
Page 3
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
62
62
4
Subsidiaries

Details of the company's subsidiaries at 28 February 2023 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Peregrine Communications Inc
405 Lexington Avenue, New York, NY 10174
Ordinary
100
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Peregrine Communications Inc
1,260,582
(157,689)
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1
1
6
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
62
62
Peregrine US Limited
Notes to the Financial Statements (Continued)
For the year ended 28 February 2023
Page 4
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
ordinary share of £1 each
1
1
1
1

 

8
Controlling Party

The immediate controlling party is Peregrine Corporate and Business Communications Limited.

 

The ultimate controlling party is A Layzell-Payne, by virtue of his majority shareholding in Peregrine Corporate and Business Communications Limited.

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