Pera Holdings Limited - Period Ending 2016-10-31

Registration number: 06636783

Pera Holdings Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2016
 

Pera Holdings Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Pera Holdings Limited
(Registration number: 06636783)
Abbreviated Balance Sheet at 31 October 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			570,000			540,000
Investments		2			467,362			467,362
					1,037,362			1,007,362
Current assets
Debtors					88,693			63,876
Cash at bank and in hand					109,806			14,812
					198,499			78,688
Creditors: Amounts falling due within one year					(312,655)			(241,369)
Net current liabilities					(114,156)			(162,681)
Total assets less current liabilities					923,206			844,681
Capital and reserves
Called up share capital		3			1,000			1,000
Share premium account					461,022			461,022
Revaluation reserve					95,346			65,346
Profit and loss account					365,838			317,313
Shareholders' funds					923,206			844,681

For the year ending 31 October 2016 the company was entitled to exemption 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 11 April 2017

.........................................
P Anthony
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Pera Holdings Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Turnover

Turnover represents amounts chargeable in respect of the provision of management and rent charges, net of value added tax.

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recongised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Pera Holdings Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 November 2015		540,000			467,362			1,007,362
Revaluations		30,000			-			30,000
At 31 October 2016		570,000			467,362			1,037,362
Depreciation
At 31 October 2016		-			-			-
Net book value
At 31 October 2016		570,000			467,362			1,037,362
At 31 October 2015		540,000			467,362			1,007,362

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
Dorydale Limited	United Kingdom	Ordinary A	100%	IT services

The profit for the financial period of Dorydale Limited was £161,022 and the aggregate amount of capital and reserves at the end of the period was £283,599.

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		1,000			1,000			1,000			1,000

Page 3

Pera Holdings Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

4	Related party transactions

Director's advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
P Anthony
Directors loan account	24,487	111,977	25,000	8,099

Page 4