REGISTERED NUMBER: 03844788 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PEREGRINE TRADING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

I Nuez

R G J Ruiz De Gaona

W L Winston

SECRETARY:

R G J Ruiz De Gaona

REGISTERED OFFICE:

1 Guillemot Place

Clarendon Road

London

N22 6XG

REGISTERED NUMBER:

03844788 (England and Wales)

AUDITORS:

Cooper Parry Group Limited

Statutory Auditor

First Floor, Davidson House

Forbury Square

Reading

Berkshire

RG1 3EU

FIXED ASSETS

Intangible assets

4

3,356

11,481

Tangible assets

5

364,371

53,366

367,727

64,847

CURRENT ASSETS

Stocks

452,828

1,044,858

Debtors

6

2,657,804

3,348,529

Cash at bank and in hand

1,023,216

604,084

4,133,848

4,997,471

CREDITORS

Amounts falling due within one year

7

1,141,954

2,051,368

NET CURRENT ASSETS

2,991,894

2,946,103

TOTAL ASSETS LESS CURRENT LIABILITIES

3,359,621

3,010,950

CREDITORS

Amounts falling due after more than one year

8

(30,509

)

(61,017

)

PROVISIONS FOR LIABILITIES

(13,346

)

(13,346

)

NET ASSETS

3,315,766

2,936,587

CAPITAL AND RESERVES

Called up share capital

16

16

Share premium

4,520

4,520

Capital redemption reserve

1

1

Retained earnings

3,311,229

2,932,050

3,315,766

2,936,587

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 18 September 2025 and were signed on its behalf by:

W L Winston - Director

1.	STATUTORY INFORMATION

Peregrine Trading Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

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.

Intangible assets

Intangible fixed assets are initially measured at cost and subsequently measured at cost less and amortisation and any impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Trademarks

20% straight line

Research and development

20% straight line

Website development

33.33% straight line

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Leasehold land and buildings

Shorter of 20% reducing balance or lease period

Plant and equipment

25% reducing balance

Office equipment

25% reducing balance

Motor vehicles

25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the profit and loss account.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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.

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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and demand 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 changes in value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

131,317

AMORTISATION

At 1 January 2024

119,836

Charge for year

8,125

At 31 December 2024

127,961

NET BOOK VALUE

At 31 December 2024

3,356

At 31 December 2023

11,481

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

53,567

102,027

155,594

Additions

303,673

54,413

358,086

Disposals

(53,567

)

(14,887

)

(68,454

)

At 31 December 2024

303,673

141,553

445,226

DEPRECIATION

At 1 January 2024

40,812

61,416

102,228

Charge for year

17,200

13,150

30,350

Eliminated on disposal

(42,828

)

(8,895

)

(51,723

)

At 31 December 2024

15,184

65,671

80,855

NET BOOK VALUE

At 31 December 2024

288,489

75,882

364,371

At 31 December 2023

12,755

40,611

53,366

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

739,517

632,139

Amounts owed by group undertakings

1,650,351

2,597,236

Other debtors

226,572

119,154

2,616,440

3,348,529

Amounts falling due after more than one year:

Other debtors

41,364

-

Aggregate amounts

2,657,804

3,348,529

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

30,508

30,508

Trade creditors

892,223

1,502,367

Amounts owed to group undertakings

44,328

46,628

Taxation and social security

80,749

51,630

Other creditors

94,146

420,235

1,141,954

2,051,368

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

30,509

61,017

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Newbold FCA (Senior Statutory Auditor)

for and on behalf of Cooper Parry Group Limited

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption available in FRS102 1A.35 and not disclosed balances and transactions entered into between two or more members of the group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.

At the balance sheet date, £nil (December 2023: £nil) was owed to the directors of the company. Interest accrued, but not paid, on these loan balances totalled £nil (December 2023: £nil). During the period, unpaid interest accrued to the directors totalling £nil was waived (December 2023: £126,880).

At the balance sheet date, £nil (December 2023: £46,736) was owed to former directors of the company and these balances were repaid during the period end.

11.	ULTIMATE CONTROLLING PARTY

The company's parent company is Italian Realfoods Limited, whose registered office is 1 Guillemot Place, Clarendon Road, London, England, N22 6XG.

The following are the parents of the largest and smallest groups in which this company's results are consolidated:

Largest group: Certified Origins Italia SRL

Smallest group: Italian Realfoods Limited