REGISTERED NUMBER: 03955113 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Perkins & Perry Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J A Perkins

G B Spargo

J Mildren

SECRETARY:

J Mildren

REGISTERED OFFICE:

Wheal Chance

Radnor Road

Scorrier

REDRUTH

Cornwall

TR16 6EG

REGISTERED NUMBER:

03955113 (England and Wales)

ACCOUNTANTS:

Colin Truscott Accountancy Limited

9 Heron Close

Tresillian

Cornwall

TR2 4BH

SOLICITORS:

Messrs Coodes

2 Princes Street

Truro

TR1 2EZ

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

1,148,994

1,199,098

Investments

7

59,077

2,047,758

Investment property

8

2,397,797

2,423,094

3,605,868

5,669,950

CURRENT ASSETS

Stocks

568,038

615,143

Debtors

9

776,070

1,331,895

Cash at bank and in hand

1,480,877

1,754,667

2,824,985

3,701,705

CREDITORS

Amounts falling due within one year

10

867,026

1,059,189

NET CURRENT ASSETS

1,957,959

2,642,516

TOTAL ASSETS LESS CURRENT LIABILITIES

5,563,827

8,312,466

PROVISIONS FOR LIABILITIES

72,303

38,467

NET ASSETS

5,491,524

8,273,999

CAPITAL AND RESERVES

Called up share capital

7,000

10,000

Capital redemption reserve

3,000

-

Retained earnings

5,481,524

8,263,999

SHAREHOLDERS' FUNDS

5,491,524

8,273,999

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 December 2025 and were signed on its behalf by:

G B Spargo - Director

1.	STATUTORY INFORMATION

Perkins & Perry 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid on the acquisition of businesses in 2000 and 2005 has been amortised on a straight line basis over its estimated useful life of ten years.

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.

Tangible fixed assets

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

Land and buildings

-

4% on cost

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 15% on reducing balance

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The investment property was purchased in January 2013, the Directors feel that there will be no significant difference in value at the year end.

Gains or losses arising from changes in the fair value of investment property are included in profit and loss for the period in which they arise.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

Pension costs

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.

Fixed asset investments

Listed investments are measured at fair value with changes recognised in profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2024 - 38 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

357,916

AMORTISATION

At 1 April 2024

and 31 March 2025

357,916

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

6.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2024

1,039,772

383,141

34,014

Additions

-

3,154

-

Disposals

-

(33,854

)

-

At 31 March 2025

1,039,772

352,441

34,014

DEPRECIATION

At 1 April 2024

24,649

278,994

30,705

Charge for year

3,146

15,363

496

Eliminated on disposal

-

(21,177

)

-

At 31 March 2025

27,795

273,180

31,201

NET BOOK VALUE

At 31 March 2025

1,011,977

79,261

2,813

At 31 March 2024

1,015,123

104,147

3,309

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2024

345,100

76,482

1,878,509

Additions

-

-

3,154

Disposals

(31,390

)

(62,528

)

(127,772

)

At 31 March 2025

313,710

13,954

1,753,891

DEPRECIATION

At 1 April 2024

279,240

65,823

679,411

Charge for year

16,499

4,598

40,102

Eliminated on disposal

(31,297

)

(62,142

)

(114,616

)

At 31 March 2025

264,442

8,279

604,897

NET BOOK VALUE

At 31 March 2025

49,268

5,675

1,148,994

At 31 March 2024

65,860

10,659

1,199,098

Included in cost of land and buildings is freehold land of £ 882,505 (2024 - £ 882,505 ) which is not depreciated.

7.	FIXED ASSET INVESTMENTS

Listed

investment

£

COST OR VALUATION

At 1 April 2024

2,047,758

Additions

173,288

Disposals

(2,320,777

)

Revaluations

158,808

At 31 March 2025

59,077

NET BOOK VALUE

At 31 March 2025

59,077

At 31 March 2024

2,047,758

Cost or valuation at 31 March 2025 is represented by:

Listed

investment

£

Valuation in 2025

(109,201

)

Cost

168,278

59,077

The listed investments had a market value of £59,035 (2024: £2,047,758) as at 31 March 2025.

8.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

2,452,856

DEPRECIATION

At 1 April 2024

29,762

Charge for year

25,297

At 31 March 2025

55,059

NET BOOK VALUE

At 31 March 2025

2,397,797

At 31 March 2024

2,423,094

9.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

387,513

619,507

Amounts owed by group undertakings

153,065

-

Other debtors

141,533

19,801

Directors' current accounts

-

601,000

Prepayments

14,334

11,962

696,445

1,252,270

2025

2024

£

£

Amounts falling due after more than one year:

Other debtors

79,625

79,625

Aggregate amounts

776,070

1,331,895

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

73,542

47,723

Tax

190,653

282,838

Social security and other taxes

56,871

42,256

VAT

129,313

127,882

Other creditors

86,038

24,808

Directors' current accounts

143,498

203,898

Accrued expenses

187,111

329,784

867,026

1,059,189

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

G Perkins

Balance outstanding at start of year

601,000

301,000

Amounts advanced

-

300,000

Amounts repaid

(601,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

601,000

The company charges interest at a rate of 1.7% (2024: 3.8%) on loans to directors. Total interest charged during the year was £10,300 (2024: £10,400).

12.	RELATED PARTY DISCLOSURES

At the year end the company owed Mrs J A Perkins, a director, £143,498 (2024: £203,898)

Interest is payable on this loan at a rate of 5.9% 2024: 5.9%. Interest received by Mrs J A Perkins, a director, amounted to £12,000. (2024: £12,000)

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Perkins & Perry Group Ltd.