Company Registration No. SC519954 (Scotland)
Perella Homes Ltd
Unaudited accounts
for the year ended 30 November 2023
Perella Homes Ltd
Unaudited accounts
Contents
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
Perella Homes Ltd
Statement of financial position
as at 30 November 2023
Tangible assets
181,571
98,660
Debtors
2,727,436
2,507,760
Cash at bank and in hand
71
553
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
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
Perella Homes Ltd
Notes to the Accounts
for the year ended 30 November 2023
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.
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.
The accounts have been prepared under the historical cost convention.
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
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 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.
Perella Homes Ltd
Notes to the Accounts
for the year ended 30 November 2023
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.
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
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
At 30 November 2023
141,230
40,341
181,571
At 30 November 2022
43,953
54,707
98,660
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
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
-
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
68,683
29,416
8
Average number of employees
During the year the average number of employees was 1 (2022: 2).