29 01/03/2023 29/02/2024 2024-02-29 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-03-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 10015845 2023-03-01 2024-02-29 10015845 2024-02-29 10015845 2023-02-28 10015845 2022-03-01 2023-02-28 10015845 2023-02-28 10015845 2022-02-28 10015845 core:NetGoodwill 2023-03-01 2024-02-29 10015845 core:IntangibleAssetsOtherThanGoodwill 2023-03-01 2024-02-29 10015845 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 10015845 core:MotorVehicles 2023-03-01 2024-02-29 10015845 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 10015845 bus:Director1 2023-03-01 2024-02-29 10015845 core:WithinOneYear 2024-02-29 10015845 core:WithinOneYear 2023-02-28 10015845 core:NetGoodwill 2024-02-29 10015845 core:IntangibleAssetsOtherThanGoodwill 2024-02-29 10015845 core:FurnitureFittingsToolsEquipment 2023-02-28 10015845 core:MotorVehicles 2023-02-28 10015845 core:FurnitureFittingsToolsEquipment 2024-02-29 10015845 core:MotorVehicles 2024-02-29 10015845 core:AfterOneYear 2024-02-29 10015845 core:AfterOneYear 2023-02-28 10015845 core:ShareCapital 2024-02-29 10015845 core:ShareCapital 2023-02-28 10015845 core:RetainedEarningsAccumulatedLosses 2024-02-29 10015845 core:RetainedEarningsAccumulatedLosses 2023-02-28 10015845 bus:OrdinaryShareClass1 core:ShareCapital 2024-02-29 10015845 bus:OrdinaryShareClass1 core:ShareCapital 2023-02-28 10015845 core:NetGoodwill 2023-02-28 10015845 core:IntangibleAssetsOtherThanGoodwill 2023-02-28 10015845 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-02-29 10015845 core:CostValuation core:Non-currentFinancialInstruments 2024-02-29 10015845 core:Non-currentFinancialInstruments 2024-02-29 10015845 core:FurnitureFittingsToolsEquipment 2023-02-28 10015845 core:MotorVehicles 2023-02-28 10015845 bus:SmallEntities 2023-03-01 2024-02-29 10015845 bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 10015845 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 10015845 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 10015845 bus:FullAccounts 2023-03-01 2024-02-29
Company registration number: 10015845
Per Tutti Limited
Unaudited filleted financial statements
29 February 2024
Per Tutti Limited
Contents
Statement of financial position
Notes to the financial statements
Per Tutti Limited
Statement of financial position
29 February 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 2 2
Tangible assets 6 115,206 128,016
Investments 7 250,775 250,775
_______ _______
365,983 378,793
Current assets
Stocks 17,500 10,000
Debtors 8 1,124,847 784,100
Cash at bank and in hand 17,548 369,430
_______ _______
1,159,895 1,163,530
Creditors: amounts falling due
within one year 9 ( 252,536) ( 317,361)
_______ _______
Net current assets 907,359 846,169
_______ _______
Total assets less current liabilities 1,273,342 1,224,962
Creditors: amounts falling due
after more than one year 10 ( 12,500) ( 22,500)
_______ _______
Net assets 1,260,842 1,202,462
_______ _______
Capital and reserves
Called up share capital 11 100 100
Profit and loss account 1,260,742 1,202,362
_______ _______
Shareholders funds 1,260,842 1,202,462
_______ _______
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 November 2024 , and are signed on behalf of the board by:
Mr Xhovan Xhoka Mrs Olga Sipcenoka
Director Director
Company registration number: 10015845
Per Tutti Limited
Notes to the financial statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 30 Holywell Hill, St Albans, Hertfordshire, AL1 1BZ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, '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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 20 % straight line
Patent - 20 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20 % reducing balance
Motor vehicles - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset 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.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to 29 (2023: 30 ).
The aggregate payroll costs incurred during the year were:
2024 2023
£ £
Wages and salaries 315,267 444,154
Social security costs 16,020 16,272
Other pension costs 37,950 39,343
_______ _______
369,237 499,769
_______ _______
5. Intangible assets
Goodwill Other intangible assets Total
£ £ £
Cost
At 1 March 2023 and 29 February 2024 40,660 10,000 50,660
_______ _______ _______
Amortisation
At 1 March 2023 and 29 February 2024 40,659 9,999 50,658
_______ _______ _______
Carrying amount
At 29 February 2024 1 1 2
_______ _______ _______
At 28 February 2023 1 1 2
_______ _______ _______
6. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 March 2023 268,403 36,324 304,727
Additions 15,992 - 15,992
_______ _______ _______
At 29 February 2024 284,395 36,324 320,719
_______ _______ _______
Depreciation
At 1 March 2023 158,985 17,726 176,711
Charge for the year 25,082 3,720 28,802
_______ _______ _______
At 29 February 2024 184,067 21,446 205,513
_______ _______ _______
Carrying amount
At 29 February 2024 100,328 14,878 115,206
_______ _______ _______
At 28 February 2023 109,418 18,598 128,016
_______ _______ _______
7. Investments
Other investments other than loans Total
£ £
Cost
At 1 March 2023 - -
Additions 250,775 250,775
_______ _______
At 29 February 2024 250,775 250,775
_______ _______
Impairment
At 1 March 2023 and 29 February 2024 - -
_______ _______
Carrying amount
At 29 February 2024 250,775 250,775
_______ _______
At 28 February 2023 - -
_______ _______
8. Debtors
2024 2023
£ £
Prepayments 7,724 7,354
Other debtors 1,117,123 776,746
_______ _______
1,124,847 784,100
_______ _______
Other debtors includes amounts owed by undertakings in which the company has a participating interest 2024: £1,103,323 (2023: £765,946).
9. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loan 10,000 10,000
Trade creditors 33,190 32,608
Accruals 6,664 8,725
Corporation tax 133,809 178,800
Social security and other taxes 45,506 65,447
Director loan accounts 109 2,329
Other creditors 23,258 19,452
_______ _______
252,536 317,361
_______ _______
10. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 12,500 22,500
_______ _______
11. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
12. Controlling party
The company is controlled by Mr Xhovan Xhoka and Mrs Olga Sipcenoka by virtue of their shareholdings.