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Registered Number:11509059













PERRYWOOD SUDBURY LIMITED





ANNUAL REPORT AND FINANCIAL STATEMENTS
 
PAGES FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024




 
PERRYWOOD SUDBURY LIMITED
REGISTERED NUMBER:11509059


BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Notes
£
£

Fixed assets
  

Tangible assets
 4 
2,402,225
2,304,429

  
2,402,225
2,304,429

Current assets
  

Stocks
  
419,525
522,514

Debtors: amounts falling due within one year
 6 
76,053
50,722

Cash at bank and in hand
  
2,294,132
1,910,936

  
2,789,710
2,484,172

Creditors: amounts falling due within one year
 7 
(5,387,906)
(5,152,170)

Net current liabilities
  
 
 
(2,598,196)
 
 
(2,667,998)

Total assets less current liabilities
  
(195,971)
(363,569)

Provisions for liabilities
  

Deferred tax
  
(41,625)
(47,751)

Net liabilities
  
(237,596)
(411,320)


Capital and reserves
  

Called up share capital 
  
150
150

Profit and loss reserves
  
(237,746)
(411,470)

  
(237,596)
(411,320)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 April 2025.




S C Bourne

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PERRYWOOD SUDBURY LIMITED
REGISTERED NUMBER:11509059

    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

Director

The notes on pages 3 to 12 form part of these financial statements.


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PERRYWOOD SUDBURY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Perrywood Sudbury Limited (the 'Company') is a private company limited by shares incorporated in England and Wales. The registered office is Perrywood, Kelvedon Road, Inworth, Colchester, Essex, C05 9SX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have considered a period of at least one year from the date financial statements were approved and authorised in assessing the going concern status of the company.
They believe that the company will have sufficient cash available to settle its liabilities and other obligations due for at least one year. On this basis, the directors believe the company to be a going concern.
The company is part of a group and the directors have received commitments from the parent company and fellow subsidiary company that should the company require funds within the next 12 months, such cash will be provided by the group. 


- 3 -



 
PERRYWOOD SUDBURY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. 

Depreciation is provided on the following basis:

Freehold property
-
2%
per annum straight line
Leasehold property improvements
-
10%
per annum reducing balance
Plant and equipment
-
15%
per annum reducing balance
Motor vehicles
-
15%
per annum reducing balance
Fixtures and fittings
-
15%
per annum reducing balance
Computer
-
15%
per annum reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.


- 4 -



 
PERRYWOOD SUDBURY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. 
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of

- 5 -



 
PERRYWOOD SUDBURY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

the future cash flows at the asset(s) original effective interest rate.
 

- 6 -



 
PERRYWOOD SUDBURY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)


If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


- 7 -



 
PERRYWOOD SUDBURY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.


- 8 -



 
PERRYWOOD SUDBURY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.10

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.11

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.12

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.14

Creditors

Short-term creditors are measured at the transaction price.


- 9 -



 
PERRYWOOD SUDBURY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

3.


Employees

The average monthly number of employees, including the directors, during the year was 58 (2023: 55).



4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 August 2023
2,589,692
75,175
30,074
64,321
46,786
2,806,048


Additions
154,506
13,254
-
720
995
169,475



At 31 July 2024

2,744,198
88,429
30,074
65,041
47,781
2,975,523



Depreciation


At 1 August 2023
405,252
27,734
15,859
35,781
16,993
501,619


Charge for the year on owned assets
52,377
8,265
2,138
4,356
4,543
71,679



At 31 July 2024

457,629
35,999
17,997
40,137
21,536
573,298



Net book value



At 31 July 2024
2,286,569
52,430
12,077
24,904
26,245
2,402,225



At 31 July 2023
2,184,440
47,441
14,215
28,540
29,793
2,304,429


5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
419,525
522,514



6.


Debtors

2024
2023
£
£


Trade debtors
6,396
1,002

- 10 -



 
PERRYWOOD SUDBURY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.Debtors (continued)


Other debtors
69,657
49,720

76,053
50,722



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
127,635
129,302

Amounts owed to group undertakings
4,879,629
4,747,013

Corporation tax
69,792
5,106

Other taxation and social security
212,477
194,250

Other creditors
98,373
76,499

5,387,906
5,152,170



8.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and in the year amounted to £19,099 (2023: £17,844). Contributions amounting to £3,787 (2023: £4,302) were payable to the fund at the balance sheet date and are included in other creditors.


9.


Controlling party

The Company is a wholly owned subsidiary of Perrywood Limited, a private company incorporated in England and Wales with its registered office being Perrywood, Kelvedon Road, Inworth, Colchester, C05 9SX. Perrywood Limited is the parent of the smallest group for which consolidated financial statements are drawn up.


10.


Post balance sheet events

On 14 November 2024 the Company entered into a cross guarantee in respect of borrowings by the Perrywood Group of companies.  Those borrowings are secured via a debenture containing fixed and floating charges over all assets of the Group.


- 11 -



 
PERRYWOOD SUDBURY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

11.


Auditor's information

The auditor's report on the financial statements for the year ended 31 July 2024 was unqualified.

The audit report was signed on 28 April 2025 by Steven Burgess (Senior Statutory Auditor) on behalf of Sumer Auditco Limited.

 

- 12 -