IRIS Accounts Production v23.3.0.418 08775864 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh087758642022-03-31087758642023-03-31087758642022-04-012023-03-31087758642021-03-31087758642021-04-012022-03-31087758642022-03-3108775864ns10:Originalns15:EnglandWales2022-04-012023-03-3108775864ns14:PoundSterlingns10:Original2022-04-012023-03-3108775864ns10:Originalns10:Director12022-04-012023-03-3108775864ns10:Original2022-04-012023-03-3108775864ns10:Original2023-03-3108775864ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3108775864ns10:Originalns10:SmallEntities2022-04-012023-03-3108775864ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3108775864ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3108775864ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3108775864ns10:Originalns10:FullAccounts2022-04-012023-03-3108775864ns10:Originalns10:Director22022-04-012023-03-3108775864ns10:Originalns10:RegisteredOffice2022-04-012023-03-3108775864ns10:Original2022-03-3108775864ns10:Originalns5:CurrentFinancialInstruments2023-03-3108775864ns10:Originalns5:CurrentFinancialInstruments2022-03-3108775864ns10:Originalns5:Non-currentFinancialInstruments2023-03-3108775864ns10:Originalns5:Non-currentFinancialInstruments2022-03-3108775864ns5:ShareCapitalns10:Original2023-03-3108775864ns5:ShareCapitalns10:Original2022-03-3108775864ns10:Originalns5:SharePremium2023-03-3108775864ns10:Originalns5:SharePremium2022-03-3108775864ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3108775864ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3108775864ns10:Originalns5:FurnitureFittings2022-04-012023-03-3108775864ns10:Originalns5:ComputerEquipment2022-04-012023-03-3108775864ns10:Original2021-04-012022-03-3108775864ns10:Originalns5:FurnitureFittings2022-03-3108775864ns10:Originalns5:ComputerEquipment2022-03-3108775864ns10:Original2022-03-3108775864ns10:Originalns5:FurnitureFittings2023-03-3108775864ns10:Originalns5:ComputerEquipment2023-03-3108775864ns10:Originalns5:FurnitureFittings2022-03-3108775864ns10:Originalns5:ComputerEquipment2022-03-3108775864ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-03-3108775864ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-03-3108775864ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-3108775864ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-03-3108775864ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-3108775864ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-03-31
REGISTERED NUMBER: 08775864 (England and Wales)












PETERCO LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






PETERCO LIMITED (REGISTERED NUMBER: 08775864)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PETERCO LIMITED

COMPANY INFORMATION
for the year ended 31 March 2023







DIRECTORS: S J P Booth
K R D Poplett





REGISTERED OFFICE: Spindrift
Portloe
Truro
Cornwall
TR2 5RB





REGISTERED NUMBER: 08775864 (England and Wales)





ACCOUNTANTS: HPCA Limited
Station House
Connaught Road
Brookwood
Woking
Surrey
GU24 0ER

PETERCO LIMITED (REGISTERED NUMBER: 08775864)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,963 6,360
Investment property 5 1,090,000 1,120,000
1,092,963 1,126,360

CURRENT ASSETS
Debtors 6 2,831 1,131
Cash at bank 25,814 50,369
28,645 51,500
CREDITORS
Amounts falling due within one year 7 (201,808 ) (203,552 )
NET CURRENT LIABILITIES (173,163 ) (152,052 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

919,800

974,308

CREDITORS
Amounts falling due after more than one year 8 (142,038 ) (148,226 )

PROVISIONS FOR LIABILITIES - (10,478 )
NET ASSETS 777,762 815,604

CAPITAL AND RESERVES
Called up share capital 2 2
Share premium 665,656 665,656
Retained earnings 112,104 149,946
SHAREHOLDERS' FUNDS 777,762 815,604

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

PETERCO LIMITED (REGISTERED NUMBER: 08775864)

BALANCE SHEET - continued
31 March 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2023 and were signed on its behalf by:





S J P Booth - Director


PETERCO LIMITED (REGISTERED NUMBER: 08775864)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Peterco 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income due from the properties. It is recognised as it becomes due for payment.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Government grants
Grants received from the UK government from the Coronavirus Job Retention Scheme (CJRS) are accounted for using the accruals model. The income has been recognised as grant income in the period to which the payroll cost relates.
Grants received from the UK government from the Bounce Back Loan Scheme (BBLS) are accounted for using the accruals model. The income has been recognised as grant income in the period to which the interest relates.

PETERCO LIMITED (REGISTERED NUMBER: 08775864)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 11,589 6,454 18,043
DEPRECIATION
At 1 April 2022 7,022 4,661 11,683
Charge for year 2,318 1,079 3,397
At 31 March 2023 9,340 5,740 15,080
NET BOOK VALUE
At 31 March 2023 2,249 714 2,963
At 31 March 2022 4,567 1,793 6,360

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,120,000
Additions 38,998
Revaluations 31,002
Impairments (100,000 )
At 31 March 2023 1,090,000
NET BOOK VALUE
At 31 March 2023 1,090,000
At 31 March 2022 1,120,000

The directors consider that the properties are carried at a value that is appropriate to the open market value as at 31 March 2023.

PETERCO LIMITED (REGISTERED NUMBER: 08775864)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2019 41,677
Valuation in 2022 36,060
Valuation in 2023 (68,997 )
Cost 1,081,260
1,090,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,831 1,131

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,787 7,674
Tax 6,775 7,570
Social security and other taxes 932 626
Barclays credit card 198 102
Rental deposits 9,545 9,523
Service charge deposits 2,891 2,705
Directors' current accounts 168,946 168,868
Deferred income 3,884 3,884
Accrued expenses 2,850 2,600
201,808 203,552

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 6,041 8,431
Bank loans - 2-5 years 14,540 22,311
Bank loans more 5 yr by instal 121,457 117,484
142,038 148,226

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 121,457 117,484

PETERCO LIMITED (REGISTERED NUMBER: 08775864)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Property 141,428 147,484

There is a fixed and floating charge in favour of Cumberland Building Society over the property Gulls Perch, Portloe, Truro, Cornwall.