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REGISTERED NUMBER: 03334695 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Perrett & Co. Financial Services Limited

Perrett & Co. Financial Services Limited (Registered number: 03334695)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 10

Perrett & Co. Financial Services Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: R M I Perrett





SECRETARY: J Jones





REGISTERED OFFICE: Limehurst House
Bridge Street
Loughborough
Leicestershire
LE11 1NH





REGISTERED NUMBER: 03334695 (England and Wales)





ACCOUNTANTS: Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ

Perrett & Co. Financial Services Limited (Registered number: 03334695)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 38,499 37,600
Investments 6 42,045 42,282
Investment property 7 615,000 511,400
695,544 591,282

CURRENT ASSETS
Debtors 8 780,115 950,988
Cash at bank and in hand 27,653 69,181
807,768 1,020,169
CREDITORS
Amounts falling due within one year 9 314,665 341,899
NET CURRENT ASSETS 493,103 678,270
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,188,647

1,269,552

CREDITORS
Amounts falling due after more than one year 10 (408,503 ) (418,605 )

PROVISIONS FOR LIABILITIES (27,877 ) (5,501 )
NET ASSETS 752,267 845,446

CAPITAL AND RESERVES
Called up share capital 12 57,000 57,000
Revaluation reserve 13 77,700 -
Retained earnings 617,567 788,446
SHAREHOLDERS' FUNDS 752,267 845,446

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Perrett & Co. Financial Services Limited (Registered number: 03334695)

Balance Sheet - continued
30 April 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 January 2025 and were signed by:





R M I Perrett - Director


Perrett & Co. Financial Services Limited (Registered number: 03334695)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Perrett & Co. Financial Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The significant accounting policies applied in the preparation of these financial statement are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

The financial statement cover the individual entity.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Revenue
Commission (revenue) represents the income due to the company, net of amounts rebated. The figure includes debtors contracts completed during the year.

In respect of long term contracts and contracts for on going services, revenue represents the value of work done in the year, including estimated of amount not invoices.

Goodwill
Acquired goodwill is written of in equal annual instalments over its estimated useful economic life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on cost

No depreciation is provided on the freehold as it is the company's policy to maintain this so to extend its useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred 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 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.


Perrett & Co. Financial Services Limited (Registered number: 03334695)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss 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 to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investment
Fixed Assets investments are stated at cost less impairment

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 23,000
AMORTISATION
At 1 May 2023
and 30 April 2024 23,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

Perrett & Co. Financial Services Limited (Registered number: 03334695)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 79,297 117,613 196,910
Additions - 6,627 6,627
Disposals - (7,370 ) (7,370 )
At 30 April 2024 79,297 116,870 196,167
DEPRECIATION
At 1 May 2023 47,543 111,767 159,310
Charge for year 3,964 1,764 5,728
Eliminated on disposal - (7,370 ) (7,370 )
At 30 April 2024 51,507 106,161 157,668
NET BOOK VALUE
At 30 April 2024 27,790 10,709 38,499
At 30 April 2023 31,754 5,846 37,600

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2023 58,397
Impairments (237 )
At 30 April 2024 58,160
PROVISIONS
At 1 May 2023
and 30 April 2024 16,115
NET BOOK VALUE
At 30 April 2024 42,045
At 30 April 2023 42,282

Perrett & Co. Financial Services Limited (Registered number: 03334695)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 511,400
Revaluations 103,600
At 30 April 2024 615,000
NET BOOK VALUE
At 30 April 2024 615,000
At 30 April 2023 511,400

The investment property was valued on a fair value basis on 30th April 2023 by the director by considering the sales prices of recent sales of similar properties in the area.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 46,634 36,748
Amounts owed by group undertakings 98,442 101,773
Other debtors 635,039 812,467
780,115 950,988

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 10,100 14,309
Trade creditors 17,260 11,161
Taxation and social security 255,137 282,567
Other creditors 32,168 33,862
314,665 341,899

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 278,503 288,605
Other creditors 130,000 130,000
408,503 418,605

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 261,985 261,985

Perrett & Co. Financial Services Limited (Registered number: 03334695)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

11. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 288,603 302,914
Other loans 130,000 130,000
418,603 432,914

Bank loan are secured by a fixed and floating charge over current and future assets of the company, and a personal guarantee given by Mr. R Perrett.

The mortgage and other loan to purchase freehold property is secured on the property acquired.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
57,000 Ordinary £1 57,000 57,000

13. RESERVES
Revaluation
reserve
£   
No description 77,700

At 30 April 2024 77,700

14. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

30.4.24 30.4.23
£    £   
R M I Perrett
Balance outstanding at start of year 545,892 414,254
Amounts advanced - 241,638
Amounts repaid (210,783 ) (110,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 335,109 545,892

The loan made to the director was unsecured, repayable on demand and with no interest charged.

Perrett & Co. Financial Services Limited (Registered number: 03334695)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R M I Perrett.

Chartered Certified Accountants' Report to the Director
on the Unaudited Financial Statements of
Perrett & Co. Financial Services Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Perrett & Co. Financial Services Limited for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Perrett & Co. Financial Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Perrett & Co. Financial Services Limited and state those matters that we have agreed to state to the director of Perrett & Co. Financial Services Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Perrett & Co. Financial Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Perrett & Co. Financial Services Limited. You consider that Perrett & Co. Financial Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Perrett & Co. Financial Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ


30 January 2025