Percayso Limited
Percayso Limited
Registered number: 10507204
Unaudited Financial Statements
For The Year Ended
31 March 2023
Percayso Limited
Unaudited Financial Statements
For The Year Ended
31 March 2023
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Percayso Limited
Balance Sheet
As At
31 March 2023
Balance Sheet
Registered number:
10507204
For the year ending 31 March 2023 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
| 2023 | 2022 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
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| Investments | 5 |
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| CURRENT ASSETS | |||||
| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Share premium account |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 5,738,744 | 5,985,846 | |||
Percayso Limited
Balance Sheet (continued)
As At
31 March 2023
On behalf of the board
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Director
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The notes on pages 3 to 6 form part of these financial statements.
Percayso Limited
Notes to the Financial Statements
For The Year Ended
31 March 2023
Notes to the Financial Statements
1.
General Information
Percayso Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
10507204
. The registered office is 25 Hine House, Regent Street, Nottingham, Nottinghamshire, NG1 5BS.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Going Concern Disclosure
The accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company.
2.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
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| Computer Equipment |
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2.5.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6.
Taxation
2.6.
Taxation - continued
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
Percayso Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8.
Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 25 (2022: 18)
4.
Tangible Assets
| Computer Equipment | |
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| £ | |
| Cost | |
| As at
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| Additions |
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| As at
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| Depreciation | |
| As at
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| Provided during the period |
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| As at
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| Net Book Value | |
| As at
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5.
Investments
| Subsidiaries | Unlisted | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at
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| Additions |
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| Transfers |
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| As at
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...CONTINUED
Percayso Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
| Provision | |||
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| Net Book Value | |||
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The company holds 100% holding in Percayso Inform Limited, Percayso Vehicle Intelligence Limited and Percayso Inform PTY.
6.
Debtors
| 2023 | 2022 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Sundry Debtors |
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| Corporation tax recoverable assets |
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| Amounts owed by subsidiaries |
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7.
Creditors: Amounts Falling Due Within One Year
| 2023 | 2022 | ||
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| £ | £ | ||
| Trade creditors |
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| Other taxes and social security |
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| VAT |
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| Other creditors |
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| Accruals and deferred income |
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| Directors' loan accounts |
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| Amounts owed to group undertakings |
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| Amounts owed to subsidiaries |
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Percayso Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
9.
Related Party Transactions
Percayso Vehicle Intelligence Ltd
Subsidiary
Included in creditors amounts due less than one year, the amount outstanding at the year end date was £1,537,553. This loan is interest free and repayable on demand.
Percayso Inform Pty
Subsidiary
Included in debtors amounts receivable within one year, loan amount receivable at the year end date was £508 (2022: £340). This loan is interest free and receivable on demand.
Percayso Inform Ltd
Subsidiary
Included in debtors amounts receivable within one year, loan amount receivable at the year end date was £4,637,053 (2022: £3,050,503). This loan is interest free and receivable on demand. During the year the company received management charges from its subsidiary totalling £1,367,055 (2022: £884,582).