REGISTERED NUMBER: 12077841 (England and Wales)

PEREGRINE RISK MANAGEMENT LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

W R Britton

J A Lawrence

REGISTERED OFFICE:

Suite 27, Office 100

Block Plymouth Royal William Yard

Melville

Plymouth

Devon

PL1 3RP

REGISTERED NUMBER:

12077841 (England and Wales)

AUDITORS:

WP Audit Services LLP

Chartered Accountant & Statutory Auditor

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

FIXED ASSETS

Intangible assets

5

35,905

41,530

Tangible assets

6

19,594

7,854

55,499

49,384

CURRENT ASSETS

Debtors

7

3,062,029

1,242,899

Cash at bank and in hand

1,035,891

109,049

4,097,920

1,351,948

CREDITORS

Amounts falling due within one year

8

2,901,647

1,118,440

NET CURRENT ASSETS

1,196,273

233,508

TOTAL ASSETS LESS CURRENT LIABILITIES

1,251,772

282,892

CREDITORS

Amounts falling due after more than one year

9

95,682

187,740

NET ASSETS

1,156,090

95,152

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

1,156,087

95,149

1,156,090

95,152

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 by the Board of Directors and authorised for issue on 22 September 2025 and were signed on its behalf by:

W R Britton - Director

1.	STATUTORY INFORMATION

Peregrine Risk Management Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

Turnover includes revenue earned from the rendering of services. Turnover is recognised once the service has been provided. For services provided that have not yet been invoiced, accrued income is recognised within debtors. For services that have been invoiced in advance, this is excluded from turnover and instead recorded within current liabilities as deferred income.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intangible assets comprise development costs incurred with respect to the creation of bespoke computer software.

This computer software is being amortised evenly over its estimated useful life of 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures & fittings are depreciated on a 15% reducing balance

Computer equipment is depreciated over 4 years on cost.

Impairment of Assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss if recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the assets in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors

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

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transactions costs, and are measured subsequently at amortised costs using the effective interest method.

Taxation

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only 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. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated 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.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

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.

Pension costs and other post-retirement benefits

Short- term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Provisions for liabilities

Provisions are recognised when the company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance costs in profit or loss in the period it arises.

Development costs

The company has elected to capitalise any development costs that meet the definition of an asset and will generate income for the company in the future. Any such costs are recorded as an intangible asset and treated in line with the associated accounting policy.

Grant income

Income received in relation to grants are classified either as relating to revenue or to assets.

Grants relating to revenue are recognised in other income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Where a timing difference arises, the income is held on the balance sheet. When received in arrears the expected income is recognises as a debtor so long as the relevant conditions have been satisfied. When received in advance of costs, the income is held as deferred income and systematically released to the profit and loss in the periods the cost is incurred.

Grants relating to assets are recognised initially as deferred income and released to other income on a systematic basis over the expected useful life of the asset.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 108 (2023 - 7 ) .

5.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 January 2024

and 31 December 2024

56,245

AMORTISATION

At 1 January 2024

14,715

Amortisation for year

5,625

At 31 December 2024

20,340

NET BOOK VALUE

At 31 December 2024

35,905

At 31 December 2023

41,530

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

4,543

2,618

10,058

17,219

Additions

-

9,747

6,759

16,506

At 31 December 2024

4,543

12,365

16,817

33,725

DEPRECIATION

At 1 January 2024

4,543

439

4,383

9,365

Charge for year

-

1,298

3,468

4,766

At 31 December 2024

4,543

1,737

7,851

14,131

NET BOOK VALUE

At 31 December 2024

-

10,628

8,966

19,594

At 31 December 2023

-

2,179

5,675

7,854

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Trade debtors

2,605,787

1,040,311

Other debtors

456,242

202,588

3,062,029

1,242,899

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Bank loans and overdrafts

15,741

36,111

Trade creditors

155,075

381,162

Taxation and social security

2,193,851

420,587

Other creditors

536,980

280,580

2,901,647

1,118,440

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

as restated

£

£

Bank loans

-

15,741

Other creditors

95,682

171,999

95,682

187,740

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

as restated

£

£

Within one year

50,779

42,000

Between one and five years

40,351

-

91,130

42,000

The operating lease for the office premises is on a one year rolling contract basis. The remaining lease commitments relate to vehicles.

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

The Report of the Auditors was unqualified.

Stephanie Williams (Senior Statutory Auditor)

for and on behalf of WP Audit Services LLP

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year-end 2 Directors owed the company funds as follows:

2024

2023

as restated

Balance b/fwd

(65,789

)

-

Amounts drawn

138,608

-

Amounts introduced

(5,000

)

(65,789

)

Balance c/fwd

67,819

(65,789

)

The overdrawn loan accounts were repaid to the company within 9 months of the year end and interest has been charged on overdrawn amounts in line with the official beneficial loan interest rate.

13.	RELATED PARTY DISCLOSURES

During the year a company under common control made gross sales of services to Peregrine Risk Management Limited of £87,420. Further invoices were raised post year end, of which a net £88,000 related to 2024 and are therefore held in accruals within the accounts of Peregrine Risk Management Limited.

Peregrine Risk Management Limited paid costs on behalf of a company under common control of £101,187 (2023: £42,292).

At the year end, Peregrine Risk Management Limited owed a company under common control £31,940 (2023: £42,293 debtor).