Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-312022-08-01falseNon-specialised wholesale trade43falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12731914 2022-08-01 2023-07-31 12731914 2021-08-01 2022-07-31 12731914 2023-07-31 12731914 2022-07-31 12731914 c:Director1 2022-08-01 2023-07-31 12731914 d:FurnitureFittings 2022-08-01 2023-07-31 12731914 d:FurnitureFittings 2023-07-31 12731914 d:FurnitureFittings 2022-07-31 12731914 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 12731914 d:OfficeEquipment 2022-08-01 2023-07-31 12731914 d:OfficeEquipment 2023-07-31 12731914 d:OfficeEquipment 2022-07-31 12731914 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 12731914 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 12731914 d:CurrentFinancialInstruments 2023-07-31 12731914 d:CurrentFinancialInstruments 2022-07-31 12731914 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 12731914 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 12731914 d:ShareCapital 2023-07-31 12731914 d:ShareCapital 2022-07-31 12731914 d:RetainedEarningsAccumulatedLosses 2023-07-31 12731914 d:RetainedEarningsAccumulatedLosses 2022-07-31 12731914 c:OrdinaryShareClass1 2022-08-01 2023-07-31 12731914 c:OrdinaryShareClass1 2023-07-31 12731914 c:OrdinaryShareClass2 2022-08-01 2023-07-31 12731914 c:OrdinaryShareClass2 2023-07-31 12731914 c:OrdinaryShareClass3 2022-08-01 2023-07-31 12731914 c:OrdinaryShareClass3 2023-07-31 12731914 c:OrdinaryShareClass4 2022-08-01 2023-07-31 12731914 c:OrdinaryShareClass4 2023-07-31 12731914 c:OrdinaryShareClass5 2022-08-01 2023-07-31 12731914 c:OrdinaryShareClass5 2023-07-31 12731914 c:FRS102 2022-08-01 2023-07-31 12731914 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 12731914 c:FullAccounts 2022-08-01 2023-07-31 12731914 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12731914 d:EntityControlledByKeyManagementPersonnel1 2022-08-01 2023-07-31 12731914 d:EntityControlledByKeyManagementPersonnel1 2023-07-31 12731914 d:EntityControlledByKeyManagementPersonnel2 2022-08-01 2023-07-31 12731914 d:EntityControlledByKeyManagementPersonnel2 2023-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12731914









PEREGRINE SOURCING (UK) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
PEREGRINE SOURCING (UK) LIMITED
REGISTERED NUMBER: 12731914

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023


2023

2022
Note
£
£
£
£

Fixed assets
  

Tangible assets
  
2,742
-

Current assets
  

Debtors: amounts falling due within one year
 5 
103,213
10,129

Cash at bank and in hand
 6 
10,937
470

  
114,150
10,599

Creditors: amounts falling due within one year
 7 
(134,834)
(47,983)

Net current liabilities
  
 
 
(20,684)
 
 
(37,384)

Total assets less current liabilities
  
(17,942)
(37,384)

  

Net liabilities
  
(17,942)
(37,384)


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(18,042)
(37,484)

  
(17,942)
(37,384)


Page 1

 
PEREGRINE SOURCING (UK) LIMITED
REGISTERED NUMBER: 12731914
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 July 2024.


D L Edwards
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
PEREGRINE SOURCING (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Peregrine Sourcing (UK) Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 3 Brook Business Centre, Cowley Mill Road, Uxbridge, United Kingdom, UB8 2FX.
The company specialises in IT support and wholesale trading.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis, notwithstanding the net liabilities of £17,942 (2022 - £37,384) at the Statement of financial position date.
The main creditor of the company has confirmed that they will not seek repayment of the debt due from the company unless and until the company has the resources to do so. On this basis, the directors believe that the preparation of the accounts on a going concern basis is appropriate.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.

Page 3

 
PEREGRINE SOURCING (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Fixtures & fittings
-
15%
Straight line method
Office equipment
-
15%
Straight line method

Page 4

 
PEREGRINE SOURCING (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
3
3



Staff
1
-

4
3

Page 5

 
PEREGRINE SOURCING (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Tangible fixed assets





Fixtures & fittings
Office equipment
Total

£
£
£



Cost or valuation


Additions
523
2,513
3,036



At 31 July 2023

523
2,513
3,036



Depreciation


Charge for the year on owned assets
152
142
294



At 31 July 2023

152
142
294



Net book value



At 31 July 2023
371
2,371
2,742



At 31 July 2022
-
-
-

Page 6

 
PEREGRINE SOURCING (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
103,213
10,129

103,213
10,129



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
10,937
470

10,937
470



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
6,443
1,000

Other taxation and social security
76,362
32,956

Other creditors
50,429
8,943

Accruals and deferred income
1,600
5,084

134,834
47,983


Page 7

 
PEREGRINE SOURCING (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



3,334 Ordinary A shares of £0.01 each
33
33
2,857 Ordinary B shares of £0.01 each
28
28
953 Ordinary C shares of £0.01 each
9
9
476 Ordinary D shares of £0.01 each
5
5
476 Ordinary E shares of £0.01 each
5
5
476 Ordinary F shares of £0.01 each
5
5
476 Ordinary G shares of £0.01 each
5
5
476 Ordinary H shares of £0.01 each
5
5
476 Ordinary I shares of £0.01 each
5
5

100

100

Classes of shares rank pari passu in every respect except that dividends may be declared at different rates on different classes of shares.



9.


Pension commitments

The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. The pension cost charge represents contributions payable by the entity to the fund and amounted to £1,339 (2022 - £Nil). Contributions totalling £257 (2022 - £Nil) were payable to the fund at the balance sheet date and are included in other creditors.


10.


Related party transactions

Included within trade debtors is an amount of £103,213 (2022 - £10,219) due from companies with common directors. 

 Included within other creditors is an amount of £44,775 (2022 - £8,943) due to companies with common directors.


11.


Controlling party

The ultimate controlling parties are the directors, by virtue of their majority shareholding in the company.

 
Page 8