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REGISTERED NUMBER: 01947282 (England and Wales)






















Financial Statements

for the Year Ended 31 December 2023

for

Peerman Investments Limited

Peerman Investments Limited (Registered number: 01947282)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Peerman Investments Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: C V Carvill
R K Carvill
R J MacGregor
A K Carvill
G M Anderson
R H Fewster
P Ahmed





SECRETARY: Alto Secretaries Limited





REGISTERED OFFICE: 5th Floor
Minories House
2-5 Minories
London
EC3N 1BJ





REGISTERED NUMBER: 01947282 (England and Wales)





AUDITORS: Anstey Bond LLP
Statutory Auditors &
Chartered Accountants
1-2 Charterhouse Mews
London
EC1M 6BB

Peerman Investments Limited (Registered number: 01947282)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 10,775 11,827
Investment property 5 73,625,000 72,225,000
73,635,775 72,236,827

CURRENT ASSETS
Debtors 6 450,572 351,748
Cash at bank and in hand 3,070,976 746,776
3,521,548 1,098,524
CREDITORS
Amounts falling due within one year 7 (30,616,859 ) (26,749,143 )
NET CURRENT LIABILITIES (27,095,311 ) (25,650,619 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

46,540,464

46,586,208

PROVISIONS FOR LIABILITIES (7,732,998 ) (7,382,998 )
NET ASSETS 38,807,466 39,203,210

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 39,445,025 38,395,026
Retained earnings (637,659 ) 808,084
SHAREHOLDERS' FUNDS 38,807,466 39,203,210

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 August 2024 and were signed on its behalf by:





G M Anderson - Director


Peerman Investments Limited (Registered number: 01947282)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Peerman Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income and other miscellaneous income receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties are included in the balance sheet at fair value. Any aggregate surplus or deficit arising from a change in fair value is recognised in the income statement.

Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities, it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors, compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

The directors do not believe that depreciation is required in respect of the investment properties held, as the properties are revalued each year and any increase or impairment in value is taken to the revaluation reserve.

Taxation
Taxation for the year comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively.

Current value of deferred taxation assets and liabilities are not discounted.

Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.


Peerman Investments Limited (Registered number: 01947282)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements.

Deferred tax is recognised on all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are only recognised when it is probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax relating to investment property measured at fair value, is measured using the tax rates and allowances that apply to the sale of the asset, with exception to investment property with a limited useful life.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
In the company's statement of cash flows, cash and cash equivalents includes cash on hand and deposits held at call with banks.

Trade and other debtors
Trade and other debtors are recognised initially at fair value. Subsequent to initial recognition, they are measured at amortised cost using the effective interest method, less any impairment losses.

Trade and other creditors
Trade and other creditors are recognised initially at fair value. Subsequent to initial recognition, they are measured at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 79,577
Additions 2,540
At 31 December 2023 82,117
DEPRECIATION
At 1 January 2023 67,750
Charge for year 3,592
At 31 December 2023 71,342
NET BOOK VALUE
At 31 December 2023 10,775
At 31 December 2022 11,827

Peerman Investments Limited (Registered number: 01947282)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 72,225,000
Revaluation 1,400,000
At 31 December 2023 73,625,000
NET BOOK VALUE
At 31 December 2023 73,625,000
At 31 December 2022 72,225,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2014 48,848,108
Valuation in 2015 407,204
Valuation in 2016 422,700
Valuation in 2017 (1,085,687 )
Valuation in 2018 (4,649,356 )
Valuation in 2019 (2,776,493 )
Valuation in 2020 1,206,992
Valuation in 2021 (593,445 )
Valuation in 2022 3,998,000
Valuation in 2023 1,400,000
Cost 26,446,977
73,625,000

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 26,446,977 26,446,977

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 326,837 245,182
Other debtors 123,735 106,566
450,572 351,748

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 317,016 271,738
Taxation and social security 20,151 25,241
Other creditors 30,279,692 26,452,164
30,616,859 26,749,143

Peerman Investments Limited (Registered number: 01947282)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

8. RESERVES
Fair
value
reserve
£   
At 1 January 2023 38,395,026
Transfer for unrealised profit 1,049,999

At 31 December 2023 39,445,025

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Colin Ellis FCCA CF (Senior Statutory Auditor)
for and on behalf of Anstey Bond LLP

10. RELATED PARTY DISCLOSURES

At the balance sheet date, included within other creditors is the balance of £30,000,000 (2022: £26,035,440) due to Mr R K Carvill, a director and shareholder of the company.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr R K Carvill, by virtue of his 100% shareholding in the Company.