Registered number
13847968
Perla Nova Ltd
Filleted Accounts
31 January 2024
Perla Nova Ltd
Registered number: 13847968
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 5,559 3,824
Current assets
Debtors 4 45,397 67,247
Cash at bank and in hand 3,816 8,029
49,213 75,276
Creditors: amounts falling due within one year 5 (51,797) (78,851)
Net current liabilities (2,584) (3,575)
Net assets 2,975 249
Capital and reserves
Called up share capital 1 1
Profit and loss account 2,974 248
Shareholder's funds 2,975 249
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Kirsty Vaughan
Director
Approved by the board on 31 January 2025
Perla Nova Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
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
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 2 years
Fixtures, fittings, tools and equipment over 2 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Fixtures, fittings and equipment
£
Cost
At 1 February 2023 7,648
Additions 4,931
At 31 January 2024 12,579
Depreciation
At 1 February 2023 3,824
Charge for the year 3,196
At 31 January 2024 7,020
Net book value
At 31 January 2024 5,559
At 31 January 2023 3,824
4 Debtors 2024 2023
£ £
Trade debtors 42,292 64,142
Other debtors 3,105 3,105
45,397 67,247
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1,358 500
Trade creditors 20,330 13,715
Amounts owed to group undertakings and undertakings in which the company has a participating interest 18,584 64,425
Taxation and social security costs 11,005 211
Other creditors 520 -
51,797 78,851
6 Related party transactions
The company has received a loan from its parent company, Leocat Ltd. The loan is interest free. At the period end the balance outstanding was £18,584 (2023: £64,425).
7 Controlling party
The company is a wholly owned subsidiary of Leocat Limited whose registered office is at 15 Rosewood Park, Mistley, Manningtree, Essex.
8 Other information
Perla Nova Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is:
The Coach House
Headgate
Colchester
Essex
CO3 3BT
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