5 false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2021 - FRS102_2021 91,833 40,601 132,434 132,434 91,833 299,901 1,047 300,948 299,901 xbrli:pure xbrli:shares iso4217:GBP 02020187 2022-12-01 2023-11-30 02020187 2023-11-30 02020187 2022-11-30 02020187 2021-12-01 2022-11-30 02020187 2022-11-30 02020187 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 02020187 bus:Director1 2022-12-01 2023-11-30 02020187 bus:Director6 2022-12-01 2023-11-30 02020187 bus:Director7 2022-12-01 2023-11-30 02020187 core:WithinOneYear 2023-11-30 02020187 core:WithinOneYear 2022-11-30 02020187 bus:OrdinaryShareClass1 2021-12-01 2022-11-30 02020187 core:ShareCapital 2023-11-30 02020187 core:ShareCapital 2022-11-30 02020187 core:RevaluationReserve 2023-11-30 02020187 core:RevaluationReserve 2022-11-30 02020187 core:OtherReservesSubtotal 2023-11-30 02020187 core:OtherReservesSubtotal 2022-11-30 02020187 core:RetainedEarningsAccumulatedLosses 2023-11-30 02020187 core:RetainedEarningsAccumulatedLosses 2022-11-30 02020187 core:CostValuation core:Non-currentFinancialInstruments 2022-11-30 02020187 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-11-30 02020187 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2023-11-30 02020187 core:Non-currentFinancialInstruments 2022-11-30 02020187 core:LandBuildings 2023-11-30 02020187 core:LandBuildings 2022-11-30 02020187 core:LandBuildings 2022-11-30 02020187 core:LandBuildings 2022-12-01 2023-11-30 02020187 bus:SmallEntities 2022-12-01 2023-11-30 02020187 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 02020187 bus:FullAccounts 2022-12-01 2023-11-30 02020187 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 02020187 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 02020187 bus:OrdinaryShareClass1 2023-11-30 02020187 bus:OrdinaryShareClass1 2022-11-30
COMPANY REGISTRATION NUMBER: 02020187
Perrott Limited
Filleted Unaudited Financial Statements
30 November 2023
Perrott Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
132,434
91,833
Investments
7
299,901
---------
---------
132,434
391,734
Current assets
Debtors
8
21,080
43,059
Cash at bank and in hand
685,646
365,184
---------
---------
706,726
408,243
Creditors: amounts falling due within one year
9
6,984
3,775
---------
---------
Net current assets
699,742
404,468
---------
---------
Total assets less current liabilities
832,176
796,202
---------
---------
Net assets
832,176
796,202
---------
---------
Perrott Limited
Statement of Financial Position (continued)
30 November 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
10
10,000
10,000
Revaluation reserve
94,592
65,581
Other reserves
362,760
362,760
Profit and loss account
364,824
357,861
---------
---------
Shareholders funds
832,176
796,202
---------
---------
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the financial year ended 30 November 2022, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies and the members have not required the company to obtain an audit of its accounts 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 of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved by the board of directors and authorised for issue on 18 August 2024 , and are signed on behalf of the board by:
Mrs D B Cook
Ms S M Ralphs
Director
Director
Mr A J Rose
Director
Company registration number: 02020187
Perrott Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office and principal place of business is Coombe Farm, Roundham, Crewkerne, Somerset, TA18 8RR
2. Statement of compliance
These financial statements have been prepared in accordance with FRS 102 taking advantage of the disclosure exemptions of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover shown in the Profit and Loss Account comprises rents from investment properties and proceeds from the sale of development properties.
Income tax
Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes . Tax deferred or accelerated is accounted for in respect of all material timing differences to the extent that it is considered that a net liability may arise.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2022: 5 ).
5. Dividends
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):
2023
2022
£
£
Dividends on equity shares
100,000
----
---------
6. Tangible assets
Land and buildings
£
Cost or valuation
At 1 December 2022
91,833
Revaluations
40,601
---------
At 30 November 2023
132,434
---------
Depreciation
At 1 December 2022 and 30 November 2023
---------
Carrying amount
At 30 November 2023
132,434
---------
At 30 November 2022
91,833
---------
Tangible assets held at valuation
Certain freehold land and buildings at a cost of £15,884 (2021: £15,884) were revalued at 30 November 2022 based on valuations required and carried out post year end regarding the subsequent sale of the assets. These properties are rented by means of formal tenancy agreements and the assets are therefore let under operating leases.
7. Investments
Other investments other than loans
£
Cost
At 1 December 2022
299,901
Additions
1,047
Disposals
( 300,948)
---------
At 30 November 2023
---------
Impairment
At 1 December 2022 and 30 November 2023
---------
Carrying amount
At 30 November 2023
---------
At 30 November 2022
299,901
---------
The Subsidiary Undertaking is an interest in Barrowfield Partnership. The principal place of business of the partnership is Higher Barrowfield Farm, Beaminster, Dorset. The partnership is now dormant. The Company's share of the net loss of the partnership as shown by accounts to 30 November 2022 £1,648 (2021 £1,882). The company's capital account at 30 November 2022 was £299,901 (2021 £301,549).
8. Debtors
2023
2022
£
£
Trade debtors
5,334
4,093
Other debtors
15,746
38,966
--------
--------
21,080
43,059
--------
--------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
4,964
1,755
Other creditors
2,020
2,020
-------
-------
6,984
3,775
-------
-------
10. Called up share capital
Authorised share capital
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
10,000
10,000
10,000
10,000
--------
--------
--------
--------
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
10,000
10,000
10,000
10,000
--------
--------
--------
--------
11. Directors' advances, credits and guarantees
Included in debtors is an amount owed by Mrs D B Cook of £ Nil (2021 £52,463) in respect of her director's current account with the Company. No interest is payable on this amount.