Perritt & Perritt Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05773057

Perritt & Perritt Ltd

Filleted Unaudited Financial Statements

30 July 2025

Perritt & Perritt Ltd

Statement of Financial Position

30 July 2025

	30 Jul 25		31 Jul 24
Note	£	£	£

Fixed assets

Tangible assets	5		1,955,099	1,977,602

Current assets

Stocks		48,297	52,694
Debtors	6	327,392	206,613
Cash at bank and in hand		89,040	88,324
		---------	---------
		464,729	347,631

Creditors: amounts falling due within one year	7	673,390		573,371
		---------		---------
Net current liabilities			208,661	225,740
			------------	------------
Total assets less current liabilities			1,746,438	1,751,862

Creditors: amounts falling due after more than one year	8	14,672	24,672
		------------	------------
Net assets		1,731,766	1,727,190
		------------	------------

Capital and reserves

Called up share capital	100	100
Revaluation reserve	1,725,708	1,725,708
Profit and loss account	5,958	1,382
	------------	------------
Shareholders funds	1,731,766	1,727,190
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the period ending 30 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Perritt & Perritt Ltd

Statement of Financial Position (continued)

30 July 2025

These financial statements were approved by the board of directors and authorised for issue on 28 July 2026 , and are signed on behalf of the board by:

Mr A Perritt
Director

Company registration number: 05773057

Perritt & Perritt Ltd

Notes to the Financial Statements

Period from 1 August 2024 to 30 July 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 167-169 Great Portland Street, 5th Floor, London, England, W1W 5PF.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are 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. Deferred tax is measured 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long leasehold property	-	4% straight line
Plant and machinery	-	10% straight line
Fixture and fittings	-	10% straight line
Motor vehicle	-	25% straight line

Equipment	-	10% straight line
Improvement to property	-	15 % straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 41 (2024: 31 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Improvments to property	Total
	£	£	£	£	£	£
Cost
At 1 Aug 2024	1,928,079	152,033	90,124	2,152	75,581	2,247,969
Additions	–	7,440	716	–	–	8,156
	------------	---------	--------	-------	--------	------------
At 30 Jul 2025	1,928,079	159,473	90,840	2,152	75,581	2,256,125
	------------	---------	--------	-------	--------	------------
Depreciation
At 1 Aug 2024	54,111	97,947	40,576	2,152	75,581	270,367
Charge for the period	13,340	8,794	8,525	–	–	30,659
	------------	---------	--------	-------	--------	------------
At 30 Jul 2025	67,451	106,741	49,101	2,152	75,581	301,026
	------------	---------	--------	-------	--------	------------
Carrying amount
At 30 Jul 2025	1,860,628	52,732	41,739	–	–	1,955,099
	------------	---------	--------	-------	--------	------------
At 31 Jul 2024	1,873,968	54,086	49,548	–	–	1,977,602
	------------	---------	--------	-------	--------	------------

6. Debtors

	30 Jul 25	31 Jul 24
	£	£
Other debtors	327,392	206,613
	---------	---------

7. Creditors: amounts falling due within one year

	30 Jul 25	31 Jul 24
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	268,856	261,057
Corporation tax	20,359	–
Social security and other taxes	299,497	198,475
Other creditors	74,678	103,839
	---------	---------
	673,390	573,371
	---------	---------

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

	30 Jul 25	31 Jul 24
	£	£
Bank loans and overdrafts	14,672	24,672
	--------	--------

9. Director's advances, credits and guarantees

During the period the director entered into the following advances and credits with the company:

	30 Jul 25
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr A Perritt	25,630	( 40,000)	84,944	70,574
Mr J Perritt	45,802	( 45,802)	–	–
	--------	--------	--------	--------
	71,432	( 85,802)	84,944	70,574
	--------	--------	--------	--------

	31 Jul 24
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr A Perritt	31,714	( 100,529)	94,445	25,630
Mr J Perritt	40,639	( 94,230)	99,393	45,802
	--------	---------	---------	--------
	72,353	( 194,759)	193,838	71,432
	--------	---------	---------	--------

10. Related party transactions

The company was under joint control of Mr A Perritt and Mr J Perritt , who own 50% of the issued share capital throughout the current and previous year.