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COMPANY REGISTRATION NUMBER: 3331579
Perry Insurance Consultants Limited
Filleted Unaudited Financial Statements
31 March 2025
Perry Insurance Consultants Limited
Financial Statements
Year ended 31 March 2025
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 7
Perry Insurance Consultants Limited
Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
Fixed assets
Tangible assets
6
15,788
38,409
Current assets
Stocks
1,500
5,320
Debtors
7
3,202
2,957
Investments
8
47,458
46,544
Cash at bank and in hand
267,238
208,393
---------
---------
319,398
263,214
Creditors: amounts falling due within one year
9
( 75,443)
( 53,528)
---------
---------
Net current assets
243,955
209,686
---------
---------
Total assets less current liabilities
259,743
248,095
Provisions
Taxation including deferred tax
10
( 3,947)
( 1,428)
---------
---------
Net assets
255,796
246,667
---------
---------
Capital and reserves
Called up share capital
13
101
101
Profit and loss account
255,695
246,566
---------
---------
Shareholders funds
255,796
246,667
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2025 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Perry Insurance Consultants Limited
Statement of Financial Position (continued)
31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 15 April 2025 , and are signed on behalf of the board by:
M. M. Perry
Director
Company registration number: 3331579
Perry Insurance Consultants Limited
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 70 Buckingham Road, Chippenham, SN15 3TF, England.
2. Statement of compliance
These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The director has a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the director continues to adopt the going concern basis of accounting in preparing the annual financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the management accounts requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).
5. Tax on profit
Major components of tax expense
2025
2024
£
£
Current tax:
UK current tax expense
48,916
27,746
Adjustments in respect of prior periods
7
--------
--------
Total current tax
48,923
27,746
--------
--------
Deferred tax:
Origination and reversal of timing differences
2,518
284
--------
--------
Tax on profit
51,441
28,030
--------
--------
6. Tangible assets
Equipment
Motor Vehicles
Total
£
£
£
Cost
At 1 April 2024
99,643
81,148
180,791
Additions
1,898
1,898
Disposals
( 81,148)
( 81,148)
---------
--------
---------
At 31 March 2025
101,541
101,541
---------
--------
---------
Depreciation
At 1 April 2024
80,491
61,891
142,382
Charge for the year
5,262
5,262
Disposals
( 61,891)
( 61,891)
---------
--------
---------
At 31 March 2025
85,753
85,753
---------
--------
---------
Carrying amount
At 31 March 2025
15,788
15,788
---------
--------
---------
At 31 March 2024
19,152
19,257
38,409
---------
--------
---------
7. Debtors
2025
2024
£
£
Other debtors
3,202
2,957
-------
-------
Other debtors include an amount of £nil (2024 - £nil) falling due after more than one year.
8. Investments
2025
2024
£
£
Available-for-sale investments
47,458
46,544
--------
--------
9. Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
130
Corporation tax
48,916
27,746
Social security and other taxes
807
310
Other creditors
25,720
25,342
--------
--------
75,443
53,528
--------
--------
10. Provisions
Deferred tax (note 11)
£
At 1 April 2024
1,428
Additions
2,519
-------
At 31 March 2025
3,947
-------
11. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2025
2024
£
£
Included in provisions (note 10)
3,947
1,428
-------
-------
The deferred tax account consists of the tax effect of timing differences in respect of:
2025
2024
£
£
Accelerated capital allowances
3,947
1,428
-------
-------
12. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2025
2024
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
47,458
46,544
--------
--------
13. Called up share capital
Issued, called up and fully paid
2025
2024
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
Ordinary A shares of £ 1 each
1
1
1
1
----
----
----
----
101
101
101
101
----
----
----
----
14. Related party transactions
The company was under the control of MM Perry throughout the current and previous year. MM Perry is the managing director and majority shareholder. During the year the company paid dividends totalling £142,900 (2024 - £90,700) to the shareholders.