Company No: 11205415 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	483,719		375,500
		483,719		375,500
Current assets
Debtors	4	13,970		6,500
Cash at bank and in hand		11,166		570
		25,136		7,070
Creditors: amounts falling due within one year	5	( 332,334)		( 210,722)
Net current liabilities		(307,198)		(203,652)
Total assets less current liabilities		176,521		171,848
Creditors: amounts falling due after more than one year	6	( 161,191)		( 119,411)
Provision for liabilities		( 9,965)		( 9,965)
Net assets		5,365		42,472
Capital and reserves
Called-up share capital		1		1
Profit and loss account		5,364		42,471
Total shareholder's funds		5,365		42,472

For the financial 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.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Perugia Properties Limited (registered number: 11205415) were approved and authorised for issue by the Board of Directors on 23 December 2025. They were signed on its behalf by:

E A Teasdale Director

C M Teasdale Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Perugia Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 4 Butlers Yard Butlers Yard, Weston By Welland, Market Harborough, LE16 8JD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statement are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings

not depreciated

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	0		0

3. Tangible assets

	Land and buildings		Total
	£		£
Cost
At 01 January 2024	375,500		375,500
Additions	163,219		163,219
Disposals	( 55,000)		( 55,000)
At 31 December 2024	483,719		483,719
Accumulated depreciation
At 01 January 2024	0		0
At 31 December 2024	0		0
Net book value
At 31 December 2024	483,719		483,719
At 31 December 2023	375,500		375,500

4. Debtors

	2024		2023
	£		£
Prepayments	220		0
Other debtors	13,750		6,500
	13,970		6,500

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Amounts owed to directors	505		22,022
Accruals	3,699		2,000
Other creditors	328,130		186,700
	332,334		210,722

6. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	161,191		119,411

Bank loans and overdrafts totalling £161,191 (2023: £119,411) are secured by a charge over the company's assets. The loans are repayable in more than five years.