2023-02-012024-01-312024-01-31false03490834PERITUS PRIVATE FINANCE 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PERITUS PRIVATE FINANCE LIMITED

Registered Number
03490834
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

PERITUS PRIVATE FINANCE LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

BAKER, Darren William
OLIVER, Steven Edward

Registered Address

1 Bankside The Watermark
Gateshead
NE11 9SY

Registered Number

03490834 (England and Wales)
PERITUS PRIVATE FINANCE LIMITED
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets44,9414,451
4,9414,451
Current assets
Debtors5213,916226,062
Current asset investments13,92013,920
Cash at bank and on hand17,39281,661
245,228321,643
Creditors amounts falling due within one year6(88,032)(46,627)
Net current assets (liabilities)157,196275,016
Total assets less current liabilities162,137279,467
Creditors amounts falling due after one year7(41,051)(72,092)
Net assets121,086207,375
Capital and reserves
Called up share capital10,00010,000
Profit and loss account111,086197,375
Shareholders' funds121,086207,375
The financial statements were approved and authorised for issue by the Board of Directors on 30 October 2024, and are signed on its behalf by:
BAKER, Darren William
Director
Registered Company No. 03490834
PERITUS PRIVATE FINANCE LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery5
Fixtures and fittings5
Office Equipment5
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year99
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 February 2327,83127,831
At 31 January 2427,83127,831
Amortisation and impairment
At 01 February 2327,83127,831
At 31 January 2427,83127,831
Net book value
At 31 January 24--
At 31 January 23--
4.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 February 2370,63170,631
Additions2,3902,390
At 31 January 2473,02173,021
Depreciation and impairment
At 01 February 2366,18066,180
Charge for year1,9001,900
At 31 January 2468,08068,080
Net book value
At 31 January 244,9414,941
At 31 January 234,4514,451
5.Debtors: amounts due within one year

2024

2023

££
Amounts owed by group undertakings198,825209,990
Other debtors15,09116,072
Total213,916226,062
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables226509
Bank borrowings and overdrafts20,762-
Amounts owed to related parties4,75124,223
Taxation and social security58,74111,229
Other creditors3,552-
Accrued liabilities and deferred income-10,666
Total88,03246,627
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts17,87260,111
Amounts owed to related parties23,17911,981
Total41,05172,092
8.Provisions for liabilities
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.