Company registration number SC132850 (Scotland)
PEREGRINE EDINBURGH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
PEREGRINE EDINBURGH LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
PEREGRINE EDINBURGH LIMITED
BALANCE SHEET
AS AT 28 FEBRUARY 2025
28 February 2025
- 1 -
28 February 2025
31 March 2024
Notes
£
£
£
£
Fixed assets
Investments
3
-
0
4
Current assets
Stocks
-
554,176
Debtors
4
125,326
403,775
Cash at bank and in hand
5,952,858
175,971
6,078,184
1,133,922
Creditors: amounts falling due within one year
5
(1,208,699)
(344,728)
Net current assets
4,869,485
789,194
Net assets
4,869,485
789,198
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
4,869,483
789,196
Total equity
4,869,485
789,198

For the financial period ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 7 April 2025 and are signed on its behalf by:
R M Petrie
Director
Company registration number SC132850 (Scotland)
PEREGRINE EDINBURGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2025
- 2 -
1
Accounting policies
Company information

Peregrine Edinburgh Limited is a private company limited by shares incorporated in Scotland. The registered office is Maidencraig House, 192 Queensferry Road, Edinburgh, EH4 2BN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. The directors therefore consider it appropriate to prepare the financial statements on a going concern basis.

1.3
Reporting period

The perioding period has been moved from 31 March to 28 February due to plans to cease trading.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of land and property is recognised by the company upon legal completion.

Revenue arising in respect of rent from land and property owned by the company is recognised on the accruals basis.

1.5
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

PEREGRINE EDINBURGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Stocks

Stocks, which consist of freehold property for development and resale, are stated at the lower of cost and market value whichever is lower. Cost comprises purchase price plus legal and professional expenses incurred on acquisition.

 

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Debtors with no stated interest rate or receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other operating expenses.

Creditors

Creditors with no stated interest rate and payable within one year are recorded at transaction price.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

PEREGRINE EDINBURGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2025
2024
Number
Number
Total
-
0
-
0
3
Fixed asset investments
2025
2024
£
£
Investments in subsidiaries
-
4
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 April 2024
4
Disposals
(4)
At 28 February 2025
-
Carrying amount
At 28 February 2025
-
At 31 March 2024
4
PEREGRINE EDINBURGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2025
- 5 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
125,326
400,000
Other debtors
-
0
3,775
125,326
403,775
5
Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
1,180,000
-
0
Other creditors
28,699
344,728
1,208,699
344,728
6
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
PEREGRINE EDINBURGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2025
- 6 -
7
Related party transactions

The directors are of the opinion that all related party transactions are conducted under normal market conditions and on an arm's length basis and therefore do no need to be disclosed under FRS102 section 1A appendix C.

2025-02-282024-04-01falsefalsefalse07 April 2025CCH SoftwareCCH Accounts Production 2024.301No description of principal activitySir Thomas Farmer CVO CBE KCSG DLRodMary Anne McAdamSC1328502024-04-012025-02-28SC1328502025-02-28SC1328502024-03-31SC132850core:CurrentFinancialInstrumentscore:WithinOneYear2025-02-28SC132850core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-31SC132850core:CurrentFinancialInstruments2025-02-28SC132850core:CurrentFinancialInstruments2024-03-31SC132850core:ShareCapital2025-02-28SC132850core:ShareCapital2024-03-31SC132850core:RetainedEarningsAccumulatedLosses2025-02-28SC132850core:RetainedEarningsAccumulatedLosses2024-03-31SC132850bus:Director22024-04-012025-02-28SC1328502023-04-012024-03-31SC132850core:WithinOneYear2025-02-28SC132850core:WithinOneYear2024-03-31SC132850bus:PrivateLimitedCompanyLtd2024-04-012025-02-28SC132850bus:SmallCompaniesRegimeForAccounts2024-04-012025-02-28SC132850bus:FRS1022024-04-012025-02-28SC132850bus:AuditExemptWithAccountantsReport2024-04-012025-02-28SC132850bus:Director12024-04-012025-02-28SC132850bus:CompanySecretary12024-04-012025-02-28SC132850bus:FullAccounts2024-04-012025-02-28xbrli:purexbrli:sharesiso4217:GBP