Perry Bishop Ltd 05680262 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is that of estate agents. The company acquired its trade on 07 May 2013 and commenced trading on the same day Digita Accounts Production Advanced 6.30.9574.0 true false false 05680262 2023-07-01 2024-06-30 05680262 2024-06-30 05680262 core:AcceleratedTaxDepreciationDeferredTax 2024-06-30 05680262 core:ProvisionsDeferredTax 2024-06-30 05680262 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2024-06-30 05680262 core:CurrentFinancialInstruments 2024-06-30 05680262 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 05680262 core:Non-currentFinancialInstruments 2024-06-30 05680262 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 05680262 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-06-30 05680262 core:Goodwill 2024-06-30 05680262 core:AdditionsToInvestments 2024-06-30 05680262 core:FurnitureFittingsToolsEquipment 2024-06-30 05680262 core:LandBuildings 2024-06-30 05680262 bus:SmallEntities 2023-07-01 2024-06-30 05680262 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 05680262 bus:FilletedAccounts 2023-07-01 2024-06-30 05680262 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 05680262 bus:RegisteredOffice 2023-07-01 2024-06-30 05680262 bus:Director2 2023-07-01 2024-06-30 05680262 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05680262 core:BrandNames 2023-07-01 2024-06-30 05680262 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-01 2024-06-30 05680262 core:Goodwill 2023-07-01 2024-06-30 05680262 core:ComputerEquipment 2023-07-01 2024-06-30 05680262 core:FurnitureFittings 2023-07-01 2024-06-30 05680262 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 05680262 core:LandBuildings 2023-07-01 2024-06-30 05680262 core:LeaseholdImprovements 2023-07-01 2024-06-30 05680262 core:Subsidiary1 2023-07-01 2024-06-30 05680262 core:Subsidiary1 1 2023-07-01 2024-06-30 05680262 countries:EnglandWales 2023-07-01 2024-06-30 05680262 2023-06-30 05680262 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 05680262 core:Goodwill 2023-06-30 05680262 core:FurnitureFittingsToolsEquipment 2023-06-30 05680262 core:LandBuildings 2023-06-30 05680262 2022-07-01 2023-06-30 05680262 2023-06-30 05680262 core:AcceleratedTaxDepreciationDeferredTax 2023-06-30 05680262 core:CurrentFinancialInstruments 2023-06-30 05680262 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 05680262 core:Non-currentFinancialInstruments 2023-06-30 05680262 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 05680262 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 05680262 core:Goodwill 2023-06-30 05680262 core:FurnitureFittingsToolsEquipment 2023-06-30 05680262 core:LandBuildings 2023-06-30 05680262 core:Subsidiary1 1 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 05680262

Prepared for the registrar

Perry Bishop Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Perry Bishop Ltd

(Registration number: 05680262)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

184,901

210,377

Tangible assets

5

81,369

84,793

Investments

6

396,411

-

Other financial assets

7

-

4,772

 

662,681

299,942

Current assets

 

Debtors

8

435,824

521,228

Cash at bank and in hand

 

158,397

127,834

 

594,221

649,062

Creditors: Amounts falling due within one year

9

(404,735)

(393,915)

Net current assets

 

189,486

255,147

Total assets less current liabilities

 

852,167

555,089

Creditors: Amounts falling due after more than one year

9

(429,606)

(87,121)

Deferred tax liabilities

11

(11,542)

(20,786)

Net assets

 

411,019

447,182

Capital and reserves

 

Called up share capital

780

780

Retained earnings

410,239

446,402

Shareholders' funds

 

411,019

447,182

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 March 2025 and signed on its behalf by:
 


P P Bishop
Director

 

Perry Bishop Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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:
2 Silver Street
Cirencester
Gloucestershire
GL7 2BL

 

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

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 the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

 

Perry Bishop Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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

Leasehold improvements

10% straight line

Fixtures and fittings

10% straight line

Computer equipment

20% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Intangible assets

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line

Branding

10 years straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.

Trade 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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

 

Perry Bishop Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.


Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 67 (2023 - 60).

 

Perry Bishop Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

 

4

Intangible assets

Goodwill
 £

Branding
 £

Total
£

Cost

At 1 July 2023

180,000

89,947

269,947

Additions

-

1,599

1,599

At 30 June 2024

180,000

91,546

271,546

Amortisation

At 1 July 2023

46,500

13,070

59,570

Amortisation charge

18,000

9,075

27,075

At 30 June 2024

64,500

22,145

86,645

Carrying amount

At 30 June 2024

115,500

69,401

184,901

At 30 June 2023

133,500

76,877

210,377

 

5

Tangible assets

Leasehold improvements
£

Furniture, fittings and equipment
 £

Total
£

Cost

At 1 July 2023

2,600

248,111

250,711

Additions

6,537

14,679

21,216

Disposals

-

(878)

(878)

At 30 June 2024

9,137

261,912

271,049

Depreciation

At 1 July 2023

1,582

164,336

165,918

Charge for the year

478

24,132

24,610

Eliminated on disposal

-

(848)

(848)

At 30 June 2024

2,060

187,620

189,680

Carrying amount

At 30 June 2024

7,077

74,292

81,369

At 30 June 2023

1,018

83,775

84,793

 

Perry Bishop Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

 

6

Investments

2024
£

2023
£

Investments in subsidiaries

396,411

-

Subsidiaries

£

Cost

Additions

396,411

Carrying amount

At 30 June 2024

396,411

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Cirencester Sales And Lettings Limited

2 Silver Street
Cirencester
Gloucestershire
GL7 2BL

Ordinary

100%

0%

The aggregate amount of capital and reserves of Cirencester Sales And Lettings Limited at the end of the period was £969.

 

7

Other financial assets (non-current)

Financial assets at fair value through profit and loss
£

Non-current financial assets

Cost or valuation

At 1 July 2023

4,772

Disposals

(4,772)

At 30 June 2024

-

Carrying amount

At 30 June 2024

-

 

Perry Bishop Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

 

8

Debtors

2024
£

2023
£

Trade debtors

81,492

166,905

Receivables from related parties

285,244

284,167

Prepayments

65,245

64,219

Other debtors

3,843

5,937

435,824

521,228

 

9

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

55,636

65,454

Trade creditors

 

137,998

141,603

Social security and other taxes

 

99,565

93,248

Outstanding defined contribution pension costs

 

241

-

Other payables

 

1,380

11,800

Accruals

 

51,020

64,259

Corporation tax liability

58,895

17,551

 

404,735

393,915

Due after one year

 

Loans and borrowings

10

41,667

87,121

Other non-current financial liabilities

 

387,939

-

 

429,606

87,121

 

10

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

45,454

45,454

Other borrowings

10,182

20,000

55,636

65,454

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

41,667

87,121

 

Perry Bishop Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

 

11

Deferred tax

Deferred tax assets and liabilities

2024

Liability
£

Difference between accumulated depreciation and amortisation and capital allowances

11,603

Short term timing differences

(61)

11,542

2023

Liability
£

Difference between accumulated depreciation and amortisation and capital allowances

20,786

20,786

 

12

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £471,024 (2023: £602,753).

 

13

Related party transactions

At 30 June 2024, the company was owed £285,244 (2023: £284,167) by its parent company, Cotswold Home Inspectors Limited. The loan is interest-free, unsecured and repayable on demand.

At 30 June 2024, the company owed £10,182 to the directors (2023: £20,000). Interest at 7.25% was charged on this loan, it is unsecured and repayable on demand.

 

14

Parent and ultimate parent undertaking

The company's immediate parent is Cotswold Home Inspectors Limited, incorporated in England and Wales.