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REGISTERED NUMBER: 07259134 (England and Wales)















FINANCIAL STATEMENTS

FOR THE PERIOD 1 DECEMBER 2022 TO 31 DECEMBER 2023

FOR

PERIGON UK LIMITED
TRADING AS
PERIGON UK LIMITED
PREVIOUSLY KNOWN AS TRICHORD LIMITED

PERIGON UK LIMITED (REGISTERED NUMBER: 07259134)
TRADING AS PERIGON UK LIMITED
PREVIOUSLY KNOWN AS TRICHORD LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS
For The Period 1 December 2022 to 31 December 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


PERIGON UK LIMITED
TRADING AS PERIGON UK LIMITED
PREVIOUSLY KNOWN AS TRICHORD LIMITED

COMPANY INFORMATION
For The Period 1 December 2022 to 31 December 2023







DIRECTOR: S H M Schmitz





REGISTERED OFFICE: Unit 5 Abbey Business Park
Monks Walk
Farnham
Surrey
GU9 8HT





REGISTERED NUMBER: 07259134 (England and Wales)





AUDITORS: Caldwell Penn Limited, Statutory Auditor
7a Abbey Business Park
Monks Walk
Farnham
Surrey
GU9 8HT

PERIGON UK LIMITED (REGISTERED NUMBER: 07259134)
TRADING AS PERIGON UK LIMITED
PREVIOUSLY KNOWN AS TRICHORD LIMITED

ABRIDGED BALANCE SHEET
31 December 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 379,580 67,056
Investments 5 - 449,070
379,580 516,126

CURRENT ASSETS
Stocks 232,678 603,253
Debtors 229,572 363,185
Cash at bank 9,526 37,503
471,776 1,003,941
CREDITORS
Amounts falling due within one year 1,053,303 961,662
NET CURRENT (LIABILITIES)/ASSETS (581,527 ) 42,279
TOTAL ASSETS LESS CURRENT
LIABILITIES

(201,947

)

558,405

CREDITORS
Amounts falling due after more than one year (33,196 ) (170,015 )

PROVISIONS FOR LIABILITIES (80,000 ) (3,952 )
NET (LIABILITIES)/ASSETS (315,143 ) 384,438

CAPITAL AND RESERVES
Called up share capital 247 247
Share premium 119,213 119,213
Other reserves 840,808 -
Retained earnings (1,275,411 ) 264,978
(315,143 ) 384,438

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

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 18 March 2024 and were signed by:





S H M Schmitz - Director


PERIGON UK LIMITED (REGISTERED NUMBER: 07259134)
TRADING AS PERIGON UK LIMITED
PREVIOUSLY KNOWN AS TRICHORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS
For The Period 1 December 2022 to 31 December 2023


1. STATUTORY INFORMATION

Perigon Uk 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
The financial statements have been prepared in accordance with the provisions of Section 1A ''Smaller Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis, which the director considers to be appropriate, as Perigon GmbH has agreed to provide the necessary finance to enable the company to meet its liabilities as they fall due.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents sales of printing services, sales of printing equipment and re-invoicing of intercompany expenses as well as printing services, all excluding value added tax.

Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

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

Leasehold improvements-10 years
Plant and machinery-7 years
Office and computer equipment-4 years
Furniture and fixtures-8 years
Tangible assets under construction-No depreciation

During the year, after the company was purchased by Perigon GmbH, management evaluated the useful lives of all tangible fixed assets. The useful lives of a number of older assets were amended, however new assets are included in line with the rates above.

Stocks
Ink and printing consumables are stated at the lower of cost and estimated selling price, less costs to complete and sell. Cost includes all costs of purchase, including costs to bring stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Printing equipment is stated at the lower of cost and estimated selling price. Cost includes all costs of purchase, including costs to bring the equipment to its present location and condition. An impairment review is conducted by management at each year end in order to identify damaged, obsolete and slow-moving stock.

Financial instruments
The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss.


PERIGON UK LIMITED (REGISTERED NUMBER: 07259134)
TRADING AS PERIGON UK LIMITED
PREVIOUSLY KNOWN AS TRICHORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 December 2022 to 31 December 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current 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 tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods.

Consideration is given to whether deferred tax should be provided in respect of material timing differences which have not reversed at the balance sheet date. Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or future taxable profits.

Current tax assets and liabilities are not discounted and are 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
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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 measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Transactions denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the date of the transaction. Balances at the year-end denominated in a foreign currency are translated into sterling at the rate of exchange ruling at the balance sheet date.

Hire purchase and leasing commitments
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 11 (2022 - 8 ) .

PERIGON UK LIMITED (REGISTERED NUMBER: 07259134)
TRADING AS PERIGON UK LIMITED
PREVIOUSLY KNOWN AS TRICHORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 December 2022 to 31 December 2023


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2022 257,546
Additions 364,243
Disposals (99,447 )
At 31 December 2023 522,342
DEPRECIATION
At 1 December 2022 190,490
Charge for period 51,408
Eliminated on disposal (99,136 )
At 31 December 2023 142,762
NET BOOK VALUE
At 31 December 2023 379,580
At 30 November 2022 67,056

5. FIXED ASSET INVESTMENTS


Other
Investments
£
COST
At 1 December 2022 £449,070
Disposals £(43,665 )
Impairment £(405,405 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 30 November 2022 £449,070

After the acquisition management deemed the other investments to have a nil value.

6. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
2023 2022
as restated
£    £   
Net obligations repayable:
Within one year 17,320 17,320
Between one and five years 33,196 45,679
50,516 62,999

PERIGON UK LIMITED (REGISTERED NUMBER: 07259134)
TRADING AS PERIGON UK LIMITED
PREVIOUSLY KNOWN AS TRICHORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 December 2022 to 31 December 2023


6. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2023 2022
as restated
£    £   
Within one year 172,224 -
Between one and five years 407,993 -
580,217 -

7. SECURED DEBTS

On 31 May 2023, a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery which was held by HSBC Bank PLC was satisfied.

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

The Report of the Auditors was qualified on the following basis:

Basis for opinion
The previous year's financial statements were not audited as the company was exempt from audit. Due to the acquisition by Perigon GmbH, the company is now required to have its financial statements audited. As this is the first year that the company has had its financial statements audited, we are required to ensure that the opening position has not been materially misstated. Due to the change in management, we have not been able to obtain all information and explanations required to support all of the opening balances. Therefore we have been unable to conclude that the opening position has not been materially misstated.


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Matters required to report by exception
Arising solely from the limitation on the scope of our work relating to opening balances, referred to above:
- we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and
- we were unable to determine whether adequate accounting records have been kept in respect of the year ended 30 November 2022.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Director.

Katharine Halsall (Senior Statutory Auditor)
for and on behalf of Caldwell Penn Limited, Statutory Auditor

PERIGON UK LIMITED (REGISTERED NUMBER: 07259134)
TRADING AS PERIGON UK LIMITED
PREVIOUSLY KNOWN AS TRICHORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 December 2022 to 31 December 2023


9. RELATED PARTY DISCLOSURES

At the period end, the following amounts were owed to related parties:
Perigon GmbH - £716,025
SIHL GmbH - £41,363

Prior to the acquisition of the company by Perigon GmbH, the company entered into the following transactions with the company:

- Sales relating to printing services and delivery amounting to £761,407
- Purchases and delivery costs relating to ink and film consumables amounting to £150,537
- Interest paid in relation to outstanding loans amounting to £4,794

10. ULTIMATE CONTROLLING PARTY

The director considers SIHL I Holding AG (incorporated in Switzerland) to be the Ultimate Controlling Party.

SIHL I Holding AG is the parent company for both the smallest and largest group in which the company is a member and for which consolidated financial statements are prepared. The registered office and principal place of business of SIHL I Holding AG is: Schermenweg 151, CH-3072 Ostermundigen, Bern, Switzerland.

11. DEFERRED TAX ASSET

No deferred tax asset has been recognised in these financial statements in respect of tax losses. This is due to the uncertainty as to when the asset will be recovered, which will depend upon the company's future taxable profits. There are tax losses carried forward of approximately £1,783,000 (2022 - £nil), which if provided for would result in a deferred tax asset of approximately £445,000 (2022 - £nil).

12. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.