Company Registration No. 03859588 (England and Wales)
Perseverance Works Freeholders Limited
Unaudited accounts
for the year ended 31 December 2023
Perseverance Works Freeholders Limited
Unaudited accounts
Contents
Perseverance Works Freeholders Limited
Company Information
for the year ended 31 December 2023
Directors
Mr John David Crisfield
Mr Robert Danton Rees
Mr Paul Edward King
Mr Gavin Hale-Brown
Mr Matt Lane
Secretary
Mr Paul Edward King
Company Number
03859588 (England and Wales)
Registered Office
9 Perseverance Works
38 Kingsland Road
London
E2 8DD
England
Accountants
Sue Kowszun, Harlequin Accounting & Financial Services Ltd
Bancroft, Mill Road
West chiltington
Pulborough
West Sussex
RH20 2PZ
Perseverance Works Freeholders Limited
Statement of financial position
as at 31 December 2023
Tangible assets
180,117
175,919
Cash at bank and in hand
330,544
191,330
Creditors: amounts falling due within one year
(28,263)
(33,696)
Net current assets
312,687
307,611
Net assets
492,804
483,530
Called up share capital
46
46
Share premium
171,958
171,958
Profit and loss account
320,800
311,526
Shareholders' funds
492,804
483,530
For the year ending 31 December 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 12 March 2024 and were signed on its behalf by
Mr Paul Edward King
Director
Company Registration No. 03859588
Perseverance Works Freeholders Limited
Notes to the Accounts
for the year ended 31 December 2023
Perseverance Works Freeholders Limited is a private company, limited by shares, registered in England and Wales, registration number 03859588. The registered office is 9 Perseverance Works, 38 Kingsland Road, London, E2 8DD, England.
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 as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
20% on cost
Fixtures & fittings
25% on reducing balance
Computer equipment
33% on cost
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2023
156,344
5,000
49,617
8,572
219,533
Additions
8,550
-
1,409
-
9,959
At 31 December 2023
164,894
5,000
51,026
8,572
229,492
At 1 January 2023
-
4,250
31,625
7,739
43,614
Charge for the year
-
750
4,521
490
5,761
At 31 December 2023
-
5,000
36,146
8,229
49,375
At 31 December 2023
164,894
-
14,880
343
180,117
At 31 December 2022
156,344
750
17,992
833
175,919
Perseverance Works Freeholders Limited
Notes to the Accounts
for the year ended 31 December 2023
Amounts falling due within one year
Trade debtors
3,455
143,177
Accrued income and prepayments
6,815
6,800
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
3,775
2,482
Taxes and social security
2,529
-
7
Transactions with related parties
During the year, Perseverance Works Security Limited charged the Service Charge account £170,000 (2022: £170,000) for security services and £4,340 costs were accrued in Perseverance Works Freeholder for additional location security. Perseverance Works Security and Perseverance Works Freeholders Limited have the following directors in common - John Crisfield, Paul King and Kenneth Rorrison.
Since 1999, Paul King has charged the Service Charge account for general management services. During the year this amounted to £22,075 (2022: £30,000). The amount charged to Perseverance Works Freeholders Ltd was £10,725 (2022: nil)
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).