1 December 2022 false Taxfiler 2023.15 SC519954business:PrivateLimitedCompanyLtd2022-12-012023-11-30 SC5199542022-11-30 SC5199542022-12-012023-11-30 SC519954business:AuditExemptWithAccountantsReport2022-12-012023-11-30 SC519954business:FilletedAccounts2022-12-012023-11-30 SC5199542023-11-30 SC519954business:Director12022-12-012023-11-30 SC519954business:Director22022-12-012023-11-30 SC519954business:RegisteredOffice2022-12-012023-11-30 SC5199542022-11-30 SC519954core:WithinOneYear2023-11-30 SC519954core:WithinOneYear2022-11-30 SC519954core:AfterOneYear2023-11-30 SC519954core:AfterOneYear2022-11-30 SC519954core:ShareCapitalcore:PreviouslyStatedAmount2023-11-30 SC519954core:ShareCapitalcore:PreviouslyStatedAmount2022-11-30 SC519954core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-11-30 SC519954core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-11-30 SC519954core:PreviouslyStatedAmount2023-11-30 SC519954core:PreviouslyStatedAmount2022-11-30 SC519954business:SmallEntities2022-12-012023-11-30 SC519954countries:Scotland2022-12-012023-11-30 SC519954core:PlantMachinery2022-12-012023-11-30 SC519954core:MotorVehicles2022-12-012023-11-30 SC519954core:PlantMachinery2022-11-30 SC519954core:MotorVehicles2022-11-30 SC519954core:PlantMachinery2023-11-30 SC519954core:MotorVehicles2023-11-30 SC5199542021-12-012022-11-30 iso4217:GBP xbrli:pure
Company Registration No. SC519954 (Scotland)
Perella Homes Ltd Unaudited accounts for the year ended 30 November 2023
Perella Homes Ltd Unaudited accounts Contents
Page
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Perella Homes Ltd Company Information for the year ended 30 November 2023
Directors
D Perella Mrs J Perella
Company Number
SC519954 (Scotland)
Registered Office
Blackrock House Ltd 2-8 Millar Crescent Edinburgh Midlothian EH10 5HW Scotland
Accountants
AGL Tax Solutions LLP 2A Station Yard Haddington East Lothian EH41 3PP
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Perella Homes Ltd Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
181,571 
98,660 
Current assets
Debtors
2,727,436 
2,507,760 
Cash at bank and in hand
71 
553 
2,727,507 
2,508,313 
Creditors: amounts falling due within one year
(1,841,267)
(1,919,944)
Net current assets
886,240 
588,369 
Total assets less current liabilities
1,067,811 
687,029 
Creditors: amounts falling due after more than one year
(83,683)
(55,249)
Provisions for liabilities
Deferred tax
(34,498)
(18,745)
Net assets
949,630 
613,035 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
949,530 
612,935 
Shareholders' funds
949,630 
613,035 
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 April 2024 and were signed on its behalf by
D Perella Director Company Registration No. SC519954
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Perella Homes Ltd Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
Perella Homes Ltd is a private company, limited by shares, registered in Scotland, registration number SC519954. The registered office is Blackrock House Ltd, 2-8 Millar Crescent , Edinburgh, Midlothian, EH10 5HW, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts 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. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance and 25% on cost
Motor vehicles
25%
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 taxation
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 accounts. 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Perella Homes Ltd Notes to the Accounts for the year ended 30 November 2023
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Presentation currency
The accounts are presented in £ sterling.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 December 2022
127,179 
93,838 
221,017 
Additions
133,250 
17,895 
151,145 
Disposals
- 
(41,353)
(41,353)
At 30 November 2023
260,429 
70,380 
330,809 
Depreciation
At 1 December 2022
83,226 
39,131 
122,357 
Charge for the year
35,973 
14,557 
50,530 
On disposals
- 
(23,649)
(23,649)
At 30 November 2023
119,199 
30,039 
149,238 
Net book value
At 30 November 2023
141,230 
40,341 
181,571 
At 30 November 2022
43,953 
54,707 
98,660 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
309,962 
313,762 
Amounts due from group undertakings etc.
1,597,480 
1,670,714 
Accrued income and prepayments
333,493 
- 
Other debtors
486,501 
523,284 
2,727,436 
2,507,760 
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Perella Homes Ltd Notes to the Accounts for the year ended 30 November 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
60,138 
59,636 
Obligations under finance leases and hire purchase contracts
86,825 
76,110 
Trade creditors
741,855 
859,531 
Amounts owed to group undertakings and other participating interests
55,750 
- 
Taxes and social security
222,825 
188,214 
Other creditors
672,260 
736,453 
Loans from directors
1,614 
- 
1,841,267 
1,919,944 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
15,000 
25,833 
Obligations under finance leases and hire purchase contracts
68,683 
29,416 
83,683 
55,249 
8
Average number of employees
During the year the average number of employees was 1 (2022: 2).
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