ACCOUNTS - Final Accounts preparation

PERTHI LIMITED - Company Information

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Registered number: 08917933

PERTHI LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2021

PERTHI LIMITED

REGISTERED NUMBER: 08917933

BALANCE SHEET

AS AT 31 MARCH 2021

		2021		2020
Note		£		£

Fixed assets
Intangible assets	4		101,656		90,179
Investments	5		98,012		39,946
			199,668		130,125
Current assets
Debtors: amounts falling due within one year	6	75,493		58,790
Cash at bank and in hand	7	7		7
		75,500		58,797
Creditors: amounts falling due within one year	8	(23,111)		(12,690)
Net current assets			52,389		46,107
Total assets less current liabilities			252,057		176,232

Net assets			252,057		176,232

Capital and reserves
Called up share capital	100	100
Other reserves	141,238	119,262
Profit and loss account	110,719	56,870
	252,057	176,232

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PERTHI LIMITED

REGISTERED NUMBER: 08917933

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2021

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr S W Jones

Director

Date: 14 December 2021

The notes on pages 3 to 6 form part of these financial statements.

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PERTHI LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1.	General information

PERTHI Limited, 08917933, is a private limited company, limited by shares, incorporated in England and Wales, with a registered office address at Britannia House, Pentraeth Road, Menai Bridge, LL59 5RW.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

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PERTHI LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (continued)

2.6

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Profit and Loss Account over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.8

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

Creditors

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

2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

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PERTHI LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (continued)

2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).

4.	Intangible assets

		Goodwill
		£
	Cost
	At 1 April 2020	90,179
	Additions	11,477
	At 31 March 2021	101,656

	Net book value
	At 31 March 2021	101,656
	At 31 March 2020	90,179

5.	Fixed asset investments

		Unlisted investments
		£
	Cost or valuation
	At 1 April 2020	39,946
	Additions	58,066
	At 31 March 2021	98,012

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PERTHI LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

Debtors

					2021	2020
					£	£


Other debtors	75,493	58,790
	75,493	58,790

7.	Cash and cash equivalents
		2021	2020
		£	£

Cash at bank and in hand	7	7
	7	7

8.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Other taxation and social security	22,391	12,000
Accruals and deferred income	720	690
	23,111	12,690

9.	Share capital
		2021	2020
		£	£

Allotted, called up and fully paid

100 (2020 - 100) Ordinary shares of £1.00 each	100	100

10.	Transactions with directors

Included within other debtors due within one year, is a loan to a director of £52,185 (2020: £46,106). Interest has been charged on this loan at the official rate during the year.

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