Perseverance Works Freeholders Limited

Perseverance Works Freeholders Limited

PERSEVERANCE WORKS FREEHOLDERS LIMITED - Company Information

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Company Registration No. 03859588 (England and Wales)
Perseverance Works Freeholders Limited Unaudited accounts for the year ended 31 December 2020
Perseverance Works Freeholders Limited Unaudited accounts Contents
Page
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Perseverance Works Freeholders Limited Company Information for the year ended 31 December 2020
Directors
Mr John David Crisfield Mr Robert Danton Rees Ms Carole Margaret Bramhall Ellison Mr Paul Edward King Ms Gemma Louise McGregor Davies Mr Kenneth Rorrison
Secretary
Mr Paul Edward King
Company Number
03859588 (England and Wales)
Registered Office
9 Perseverance Works 38 Kingsland Road London E2 8DD England
Accountants
Sue Kowszun, Harlequin Accounting & Financial Services Ltd Bancroft, Mill Road West chiltington Pulborough West Sussex RH20 2PZ
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Perseverance Works Freeholders Limited Statement of financial position as at 31 December 2020
2020 
2019 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
170,984 
176,915 
Current assets
Debtors
5
253,531 
303,137 
Cash at bank and in hand
117,071 
108,172 
370,602 
411,309 
Creditors: amounts falling due within one year
6
(53,354)
(101,483)
Net current assets
317,248 
309,826 
Net assets
488,232 
486,741 
Capital and reserves
Called up share capital
46 
42 
Share premium
171,958 
167,958 
Profit and loss account
316,228 
318,741 
Shareholders' funds
488,232 
486,741 
For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 July 2021 and were signed on its behalf by
Mr Paul Edward King Director Company Registration No. 03859588
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Perseverance Works Freeholders Limited Notes to the Accounts for the year ended 31 December 2020
1
Statutory information
Perseverance Works Freeholders Limited is a private company, limited by shares, registered in England and Wales, registration number 03859588. The registered office and principal place of business is 9 Perseverance Works, 38 Kingsland Road, London, E2 8DD, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 31 December 2020 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 January 2019. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on cost
Fixtures & fittings
25% on reducing balance
Computer equipment
33% on cost
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 January 2020
156,344 
5,000 
32,298 
7,086 
200,728 
Additions
- 
- 
158 
- 
158 
At 31 December 2020
156,344 
5,000 
32,456 
7,086 
200,886 
Depreciation
At 1 January 2020
- 
1,250 
16,962 
5,601 
23,813 
Charge for the year
- 
1,000 
3,837 
1,252 
6,089 
At 31 December 2020
- 
2,250 
20,799 
6,853 
29,902 
Net book value
At 31 December 2020
156,344 
2,750 
11,657 
233 
170,984 
At 31 December 2019
156,344 
3,750 
15,336 
1,485 
176,915 
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Perseverance Works Freeholders Limited Notes to the Accounts for the year ended 31 December 2020
5
Debtors: amounts falling due within one year
2020 
2019 
£ 
£ 
Trade debtors
247,281 
296,887 
Accrued income and prepayments
6,250 
6,250 
253,531 
303,137 
6
Creditors: amounts falling due within one year
2020 
2019 
£ 
£ 
VAT
50,738 
50,187 
Trade creditors
510 
69 
Taxes and social security
802 
49,427 
Accruals
1,304 
1,800 
53,354 
101,483 
7
Transactions with related parties
During the year, Perseverance Works Security Limited charged the Service Charge account £160,000 for security services. Perseverance Works Security and Perseverance Works Freeholders Limited have the following directors in common - John Crisfield, Paul King and Kenneth Rorrison. Of the Directors, Cally Ellison has a debt outstanding to the Company of £57,000 which is being pursued through legal representation. Associated legal costs incurred during the year totalled £15,000. The Service Charge account includes the total value of £72,000 as recoverable in full. Since 1999, Paul King has charged the Service Charge account for general management services. During the year this amounted to £30,000 (2019: £30,000)
8
Average number of employees
During the year the average number of employees was 0 (2019: 0).
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