REGISTERED NUMBER: 09743731 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

PEREGRINE'S PIANOS TRADING LTD

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

408

1,458

Tangible assets

5

50,414

58,193

50,822

59,651

CURRENT ASSETS

Stocks

6

100,718

69,311

Debtors

7

27,112

52,887

Cash at bank and in hand

102

102

127,932

122,300

CREDITORS

Amounts falling due within one year

8

156,781

158,470

NET CURRENT LIABILITIES

(28,849

)

(36,170

)

TOTAL ASSETS LESS CURRENT LIABILITIES

21,973

23,481

PROVISIONS FOR LIABILITIES

3,646

-

NET ASSETS

18,327

23,481

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

18,227

23,381

SHAREHOLDERS' FUNDS

18,327

23,481

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 director acknowledges her 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 December 2025 and were signed by:

D E Howells - Director

1.	STATUTORY INFORMATION

Peregrine's Pianos Trading Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

09743731

Registered office:

368 Forest Road

London

E17 5JF

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

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.

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 in connection with the acquisition of a business in 2015, is being amortised evenly 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.

Improvements to property

-

Straight line over 10 years

Fixtures and fittings

-

15% on reducing balance

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - NIL ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

10,500

AMORTISATION

At 1 April 2024

9,042

Amortisation for year

1,050

At 31 March 2025

10,092

NET BOOK VALUE

At 31 March 2025

408

At 31 March 2024

1,458

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

property

fittings

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

45,799

24,964

70,763

DEPRECIATION

At 1 April 2024

7,927

4,643

12,570

Charge for year

4,731

3,048

7,779

At 31 March 2025

12,658

7,691

20,349

NET BOOK VALUE

At 31 March 2025

33,141

17,273

50,414

At 31 March 2024

37,872

20,321

58,193

6.

STOCKS

2025

2024

£

£

Stocks

100,718

69,311

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

22,800

48,599

Other debtors

4,312

4,288

27,112

52,887

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

11,431

56,639

Amounts owed to connected undertakings

73,168

82,325

Taxation and social security

16,188

11,894

Other creditors

55,994

7,612

156,781

158,470

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

1.00

100

100

10.	RELATED PARTY DISCLOSURES

The Company's related parties, the nature of the relationship and the extent of the transactions with them are summarised below:

2025

2024

£

£

Amounts owed by/(to) D E Howells (Director)

(14,256

)

(5,952

)

Connected undertaking:

D E Howells t/a Peregrine's Pianos

During the year, £10,200 (2024: £17,235) of the sales were to Peregrine's Pianos and £1,400 (2024: £27,400) of the purchases were from Peregrine's Pianos.

D E Howells is also managing director and owns the entire issued share capital.