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REGISTERED NUMBER: 02459771 (England and Wales)













Financial Statements

for the Year Ended 31 December 2023

for

Perry Process Equipment Limited

Perry Process Equipment Limited (Registered number: 02459771)






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


Perry Process Equipment Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: G P Epstein
J P Epstein
K Miller
D Goodman
D Bentham



REGISTERED OFFICE: Station Road
Aycliffe Industrial Estate
NEWTON AYCLIFFE
County Durham
DL5 6EQ



REGISTERED NUMBER: 02459771 (England and Wales)



SENIOR STATUTORY AUDITOR: Antony Luckett BCom BFP FCA DChA



AUDITORS: Clive Owen LLP
Chartered Accountants
& Statutory Auditors
140 Coniscliffe Road
Darlington
County Durham
DL3 7RT

Perry Process Equipment Limited (Registered number: 02459771)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 382,053 405,649
Investments 5 86,244 86,244
468,297 491,893

CURRENT ASSETS
Stocks 6 1,747,223 1,712,357
Debtors 7 729,633 519,954
Cash at bank and in hand 72,923 216,723
2,549,779 2,449,034
CREDITORS
Amounts falling due within one year 8 1,143,933 1,060,401
NET CURRENT ASSETS 1,405,846 1,388,633
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,874,143

1,880,526

CAPITAL AND RESERVES
Called up share capital 10 300,000 300,000
Retained earnings 1,574,143 1,580,526
SHAREHOLDERS' FUNDS 1,874,143 1,880,526

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 June 2024 and were signed on its behalf by:





D Bentham - Director


Perry Process Equipment Limited (Registered number: 02459771)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Perry Process Equipment 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 the provisions of Section 1A "Small 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.

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.

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 the parent and other wholly owned subsidiaries within the group or those which are under normal commercial terms.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue recognition
Revenue is recognised when the risks and rewards have been transferred, i.e. when the goods have been shipped.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 2% - 15% on cost
Computer equipment - 25% - 33.33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and impairment.

Investments in subsidiaries
Investment in subsidiary undertakings are recognised at cost less any provision for impairment.The carrying value of fixed asset investments are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to sell.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.


Perry Process Equipment Limited (Registered number: 02459771)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is 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 year end and that are expected to apply to the reversal of the timing difference.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the profit before tax.

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.

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.

Preparation of consolidated financial statements
The financial statements contain information about Perry Process Equipment Limited as an individual company and do not contain consolidated financial information as the member of a group.

Perry Process Equipment Limited is a wholly owned subsidiary of Perry Videx LLC, a company incorporated in the USA.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 18 ) .

Perry Process Equipment Limited (Registered number: 02459771)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 639,654 414,483 44,002 1,098,139
Additions - 7,000 - 7,000
At 31 December 2023 639,654 421,483 44,002 1,105,139
DEPRECIATION
At 1 January 2023 291,850 361,124 39,516 692,490
Charge for year 12,793 13,787 4,016 30,596
At 31 December 2023 304,643 374,911 43,532 723,086
NET BOOK VALUE
At 31 December 2023 335,011 46,572 470 382,053
At 31 December 2022 347,804 53,359 4,486 405,649

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 86,244
NET BOOK VALUE
At 31 December 2023 86,244
At 31 December 2022 86,244

In July 2022, Perry Process Equipment Limited acquired 100% of the ordinary share capital of Perry Biehler SAS for consideration of £86,244.

6. STOCKS
2023 2022
£    £   
Finished goods 1,747,223 1,712,357

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 78,561 176,664
Amounts owed by group undertakings 567,771 231,933
Other debtors 32,247 -
Prepayments and accrued income 51,054 111,357
729,633 519,954

Perry Process Equipment Limited (Registered number: 02459771)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 18,744 13,094
Amounts owed to group undertakings 663,562 606,110
Taxation and social security 27,278 53,467
Other creditors 2,780 44,130
Accruals and deferred income 431,569 343,600
1,143,933 1,060,401

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 15,344 14,258
Between one and five years 18,828 6,533
34,172 20,791

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
300,000 Ordinary £1 300,000 300,000

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

The Report of the Auditors was unqualified.

Antony Luckett BCom BFP FCA DChA (Senior Statutory Auditor)
for and on behalf of Clive Owen LLP

12. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements 45,478 -

13. ULTIMATE PARENT COMPANY

The ultimate parent undertaking is Perry Machinery Corporation, a company incorporated in the USA. The immediate parent undertaking is Perry Videx LLC, a company incorporated in the USA, registered office 25 Mount Laurel Rd, Hainesport, New Jersey, 08036, US.