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Registration number: 07345737

Peritus Consulting Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Peritus Consulting Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

Peritus Consulting Limited

Company Information

Directors

Mr B D Barney

Mrs K M Barney

Registered office

7 Thornden
Cowfold
Horsham
West Sussex
RH13 8AG

Accountants

Andrews & O'Shea Ltd
Accountants
Optima House
1 Mill Court
Spindle Way
Crawley
West Sussex
RH10 1TT

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Peritus Consulting Limited
for the Year Ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Peritus Consulting Limited for the year ended 31 August 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Peritus Consulting Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Peritus Consulting Limited and state those matters that we have agreed to state to the Board of Directors of Peritus Consulting Limited, as a body, in this report and for no other reason. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Peritus Consulting Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Peritus Consulting Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Peritus Consulting Limited. You consider that Peritus Consulting 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 accounts of Peritus Consulting 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 accounts.

......................................

Andrews & O'Shea Ltd
Accountants
Optima House
1 Mill Court
Spindle Way
Crawley
West Sussex
RH10 1TT

20 March 2025

 

Peritus Consulting Limited

(Registration number: 07345737)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

97,846

105,155

Current assets

 

Debtors

6

32,661

22,950

Cash at bank and in hand

 

110,146

25,247

 

142,807

48,197

Creditors: Amounts falling due within one year

7

(57,763)

(37,870)

Net current assets

 

85,044

10,327

Total assets less current liabilities

 

182,890

115,482

Provisions for liabilities

(1,799)

(3,625)

Net assets

 

181,091

111,857

Capital and reserves

 

Called up share capital

100

100

Retained earnings

180,991

111,757

Shareholders' funds

 

181,091

111,857

For the financial year ending 31 August 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.

Approved and authorised by the Board on 20 March 2025 and signed on its behalf by:
 

.........................................
Mr B D Barney
Director

 

Peritus Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

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

The address of its registered office is:
7 Thornden
Cowfold
Horsham
West Sussex
RH13 8AG

These financial statements were authorised for issue by the Board on 20 March 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.

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.

Tax

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

The current income 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.

 

Peritus Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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.

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

Motor vehicles

33% per annum - straight line basis

Office equipment

25% per annum - straight line basis

Plant and machinery

25% per annum - straight line basis

Office equipment

25% per annum - straight line basis

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 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.

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 subsequently measured at amortised cost using the effective interest method.

 

Peritus Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

11,285

15,484

 

Peritus Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Business Assets
£

Cost or valuation

At 1 September 2023

44,474

126,372

15,250

41,601

Additions

-

1,671

-

2,305

At 31 August 2024

44,474

128,043

15,250

43,906

Depreciation

At 1 September 2023

-

107,292

15,250

-

Charge for the year

-

11,285

-

-

At 31 August 2024

-

118,577

15,250

-

Carrying amount

At 31 August 2024

44,474

9,466

-

43,906

At 31 August 2023

44,474

19,080

-

41,601

Total
£

Cost or valuation

At 1 September 2023

227,697

Additions

3,976

At 31 August 2024

231,673

Depreciation

At 1 September 2023

122,542

Charge for the year

11,285

At 31 August 2024

133,827

Carrying amount

At 31 August 2024

97,846

At 31 August 2023

105,155

Included within the net book value of land and buildings above is £44,474 (2023 - £44,474) in respect of freehold land and buildings.
 

 

Peritus Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

32,661

22,950

 

32,661

22,950

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

187

99

Taxation and social security

 

41,519

17,776

Accruals and deferred income

 

8,756

8,206

Other creditors

 

7,301

11,789

 

57,763

37,870

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

187

99

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £845.00 (2023 - £1,762.00) per each ordinary share

84,500

176,200

 

 
 

Peritus Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

10

Related party transactions

Transactions with directors

2024

At 1 September 2023
£

Advances to director
£

Repayments by director
£

At 31 August 2024
£

Mr B D Barney

Interest free loan

(99)

119,125

(119,213)

(187)

2023

At 1 September 2022
£

Advances to director
£

Repayments by director
£

At 31 August 2023
£

Mr B D Barney

Interest free loan

(78)

217,315

(217,336)

(99)

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

9,000

9,000

Contributions paid to money purchase schemes

24,000

24,000

33,000

33,000

During the year the number of directors who were receiving benefits and share incentives was as follows:

2024
No.

2023
No.

Accruing benefits under money purchase pension scheme

1

1

Dividends paid to directors

 

2024
£

2023
£

Mr B D Barney

   

Ordinary shares

43,095

89,862

     
         

Mrs K M Barney

   

Ordinary shares

41,405

86,338