Company Registration No. 03859588 (England and Wales)
Perseverance Works Freeholders Limited
Unaudited accounts
for the year ended 31 December 2024
Perseverance Works Freeholders Limited
Unaudited accounts
Contents
Perseverance Works Freeholders Limited
Company Information
for the year ended 31 December 2024
Directors
Mr John David Crisfield
Mr Robert Danton Rees
Mr Paul Edward King
Mr Gavin Hale-Brown
Mr Matt Lane
Secretary
Mr Paul Edward King
Company Number
03859588 (England and Wales)
Registered Office
9 Perseverance Works
38 Kingsland Road
London
E2 8DD
England
Accountants
Sue Kowszun, Harlequin Accounting & Financial Services Ltd
Bancroft, Mill Road
West chiltington
Pulborough
West Sussex
RH20 2PZ
Perseverance Works Freeholders Limited
Statement of financial position
as at 31 December 2024
Tangible assets
177,130
180,117
Cash at bank and in hand
251,005
330,544
Creditors: amounts falling due within one year
(7,426)
(28,263)
Net current assets
306,727
312,687
Net assets
483,859
492,804
Called up share capital
46
46
Share premium
171,958
171,958
Profit and loss account
311,855
320,800
Shareholders' funds
483,859
492,804
For the year ending 31 December 2024 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 May 2025 and were signed on its behalf by
Mr Paul Edward King
Director
Company Registration No. 03859588
Perseverance Works Freeholders Limited
Notes to the Accounts
for the year ended 31 December 2024
Perseverance Works Freeholders Limited is a private company, limited by shares, registered in England and Wales, registration number 03859588. The registered office is 9 Perseverance Works, 38 Kingsland Road, London, E2 8DD, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on cost
Fixtures & fittings
25% on reducing balance
Computer equipment
33% on cost
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.
Investments in shares are included at cost.
Perseverance Works Freeholders Limited
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2024
164,894
5,000
51,026
8,572
229,492
Additions
-
-
1,323
-
1,323
At 31 December 2024
164,894
5,000
52,349
8,572
230,815
At 1 January 2024
-
5,000
36,146
8,229
49,375
Charge for the year
-
-
3,968
342
4,310
At 31 December 2024
-
5,000
40,114
8,571
53,685
At 31 December 2024
164,894
-
12,235
1
177,130
At 31 December 2023
164,894
-
14,880
343
180,117
5
Investments
Subsidiary undertakings
Valuation at 1 January 2024
-
Valuation at 31 December 2024
2
During the year, Perseverance Works Freeholders Limited acquired 100% of the share capital of Perseverance Works Security Limited for £2.00. The principle activity of the subsidiary company is that of security at Perseverance Works.
Accounts will be filed with the Registrar of Companies. A summary of the trading results for the year ended 31st December 2024 is shown below:
Turnover £182,010
Cost of sales and administration costs - £172,220
Net Profit before tax £ 9,790
Taxation - £ 733
Retained profit £ 9,057
The assets and liabilities of the subsidiary were:
Fixed assets £ 8,122
Current assets £111,376
Current liabilities -£ 14,005
Net assets £100.493
Perseverance Works Freeholders Limited
Notes to the Accounts
for the year ended 31 December 2024
Amounts falling due within one year
Trade debtors
56,220
3,455
Accrued income and prepayments
6,793
6,815
Amounts falling due after more than one year
Amounts due from group undertakings etc.
135
-
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
1,852
3,775
Taxes and social security
5
2,529
Other creditors
904
17,019
8
Transactions with related parties
During the year, Perseverance Works Security Limited charged the Service Charge account £180,000 (2023: £170,000) for security services. In addition, £2,010 (2023: £1,690) was paid to Perseverance Works Security Limited for additional security during location shoots.
Paul King (Director) charged the Service Charge account for general management services. During the year this amounted to £33,100 (2023: £33,000). Of this amount, £9,900 (2023: £10,275) was recharged to the Company.
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).