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Registration number: 12402809

Perrybone & Co Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Perrybone & Co Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

Perrybone & Co Ltd

Company Information

Director

Ms C L Perry

Registered office

Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

 

Perrybone & Co Ltd

(Registration number: 12402809)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

-

1,585

Current assets

 

Stocks

6

-

3,000

Debtors

7

-

945

Cash at bank and in hand

 

-

4,988

 

-

8,933

Creditors: Amounts falling due within one year

8

(39,951)

(45,700)

Net current liabilities

 

(39,951)

(36,767)

Total assets less current liabilities

 

(39,951)

(35,182)

Creditors: Amounts falling due after more than one year

8

(16,062)

(16,962)

Net liabilities

 

(56,013)

(52,144)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(56,113)

(52,244)

Total equity

 

(56,013)

(52,144)

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Perrybone & Co Ltd

(Registration number: 12402809)
Balance Sheet as at 31 January 2024

Approved and authorised by the director on 31 January 2025
 

.........................................
Ms C L Perry
Director

   
     
 

Perrybone & Co Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

These financial statements were authorised for issue by the director on 31 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Perrybone & Co Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Straight line

Amortisation

Asset class

Amortisation method and rate

Other intangible assets

3 Years Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Perrybone & Co Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 7).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

-

528

 

Perrybone & Co Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

5

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 February 2023

2,474

2,474

Disposals

(2,474)

(2,474)

At 31 January 2024

-

-

Depreciation

At 1 February 2023

889

889

Eliminated on disposal

(889)

(889)

At 31 January 2024

-

-

Carrying amount

At 31 January 2024

-

-

At 31 January 2023

1,585

1,585

6

Stocks

2024
£

2023
£

Other inventories

-

3,000

7

Debtors

2024
£

2023
£

Prepayments

-

545

Other debtors

-

400

-

945

 

Perrybone & Co Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

63

-

Trade creditors

 

-

7,501

Taxation and social security

 

9,717

7,950

Other related parties

 

30,097

30,231

Outstanding defined contribution pension costs

 

-

18

Other creditors

 

74

-

 

39,951

45,700

Due after one year

 

Loans and borrowings

10

16,062

16,962

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

16,062

16,962

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary GBP of £1 each

100

100

100

100

         

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

16,062

16,962

 

Perrybone & Co Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

2024
£

2023
£

Current loans and borrowings

Bank overdrafts

63

-

11

Related party transactions

Transactions with directors

2024

At 1 February 2023
£

Other payments made to company by director
£

At 31 January 2024
£

Ms C L Perry

Loan repayable on demand

(30,231)

134

(30,097)

       
     

 

2023

At 1 February 2022
£

Other payments made to company by director
£

At 31 January 2023
£

Ms C L Perry

Loan repayable on demand

(39,000)

8,768

(30,231)