Perran Eco Homes Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08616311 (England and Wales)

Perran Eco Homes Limited

Unaudited Financial Statements

for the Year Ended 31 July 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr B M Johnstone

Mrs V A L Johnstone

REGISTERED OFFICE:

Lakeside Offices

The Old Cattle Market

Coronation Park

Helston

Cornwall

TR13 0SR

REGISTERED NUMBER:

08616311 (England and Wales)

ACCOUNTANTS:

Atkins Ferrie Chartered Accountants

Lakeside Offices

The Old Cattle Market

Coronation Park

Helston

Cornwall

TR13 0SR

BANKERS:

Lloyds Bank

7 Boscawen Street

Truro

Cornwall

TR1 2QT

FIXED ASSETS

Tangible assets

4

21,631

31,561

CURRENT ASSETS

Stocks

674,098

674,098

Debtors

5

2,934

2,192

Cash at bank

2,162

74,571

679,194

750,861

CREDITORS

Amounts falling due within one year

6

593,356

422,028

NET CURRENT ASSETS

85,838

328,833

TOTAL ASSETS LESS CURRENT LIABILITIES

107,469

360,394

CREDITORS

Amounts falling due after more than one year

7

(332,870

)

(338,982

)

PROVISIONS FOR LIABILITIES

(3,540

)

(3,745

)

NET (LIABILITIES)/ASSETS

(228,941

)

17,667

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(229,041

)

17,567

SHAREHOLDERS' FUNDS

(228,941

)

17,667

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by:

Mr B M Johnstone - Director

1.	STATUTORY INFORMATION

Perran Eco Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on reducing balance

Government grants

Government grants are recognised as income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Other forms of Government assistance from which the company has benefited are disclosed in the notes to the financial statements.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. The amount owing at the year end was £354 (2020 £425)

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 August 2022

56,181

595

21,800

8,375

86,951

Additions

470

-

-

-

470

Disposals

-

-

(13,500

)

-

(13,500

)

At 31 July 2023

56,651

595

8,300

8,375

73,921

DEPRECIATION

At 1 August 2022

34,970

351

15,201

4,868

55,390

Charge for year

4,336

49

434

1,157

5,976

Eliminated on disposal

-

-

(9,076

)

-

(9,076

)

At 31 July 2023

39,306

400

6,559

6,025

52,290

NET BOOK VALUE

At 31 July 2023

17,345

195

1,741

2,350

21,631

At 31 July 2022

21,211

244

6,599

3,507

31,561

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

-

24

Other debtors

2,934

2,168

2,934

2,192

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

5,556

5,000

Hire purchase contracts

-

4,103

Taxation and social security

89

10,558

Other creditors

587,711

402,367

593,356

422,028

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

332,870

338,982

8.	GOVERNMENT GRANTS

During the year, the company held a bank loan for which the government have provided a 100% guarantee in respect of the outstanding balance. The balance outstanding at the balance sheet date is £38,426.