Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01false68209 - Other letting and operating of own or leased real estate11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04964760 2022-04-01 2023-03-31 04964760 2021-04-01 2022-03-31 04964760 2023-03-31 04964760 2022-03-31 04964760 c:Director1 2022-04-01 2023-03-31 04964760 d:FreeholdInvestmentProperty 2023-03-31 04964760 d:FreeholdInvestmentProperty 2022-03-31 04964760 d:CurrentFinancialInstruments 2023-03-31 04964760 d:CurrentFinancialInstruments 2022-03-31 04964760 d:Non-currentFinancialInstruments 2023-03-31 04964760 d:Non-currentFinancialInstruments 2022-03-31 04964760 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04964760 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 04964760 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 04964760 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 04964760 d:ShareCapital 2023-03-31 04964760 d:ShareCapital 2022-03-31 04964760 d:RetainedEarningsAccumulatedLosses 2023-03-31 04964760 d:RetainedEarningsAccumulatedLosses 2022-03-31 04964760 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 04964760 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 04964760 c:FRS102 2022-04-01 2023-03-31 04964760 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 04964760 c:FullAccounts 2022-04-01 2023-03-31 04964760 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 04964760









PECKVALE LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
PECKVALE LTD
REGISTERED NUMBER: 04964760

BALANCE SHEET
AS AT 31 MARCH 2023

2021
2020
Note
£
£

Fixed assets
  

Investment property
 4 
1,985,802
1,985,802

  
1,985,802
1,985,802

Current assets
  

Debtors: amounts falling due within one year
 5 
208,363
37,393

Cash at bank and in hand
 6 
263,570
200,667

  
471,933
238,060

Creditors: amounts falling due within one year
 7 
(590,407)
(393,496)

Net current liabilities
  
 
 
(118,474)
 
 
(155,436)

Total assets less current liabilities
  
1,867,328
1,830,366

Creditors: amounts falling due after more than one year
 8 
(1,279,250)
(1,317,966)

  

Net assets
  
588,078
512,400


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
587,978
512,300

  
588,078
512,400


Page 1

 
PECKVALE LTD
REGISTERED NUMBER: 04964760
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 October 2023.




Shaban Suleman
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
PECKVALE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Peckvale  Ltd is a company limited by shares incorporated in England within the United Kingdom, having a registration of 04964760. The address of the registered office is 77 Francis Road, Edgbaston, Birmingham B16 8SP . The principal activity of the company in the year under review was that of Other letting and operating of own or leased real estate. 
The financial statements are presented in sterling which is functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements has been prepared on a going concern basis which assumes that the company will continue to receive support from creditors and the director as and when required.

Page 3

 
PECKVALE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 4

 
PECKVALE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 5

 
PECKVALE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
1,985,802



At 31 March 2023
1,985,802

The 2023 valuations were made by the Director, on an open market value for existing use basis.



At 31 March 2023



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
1,985,802
1,985,802

1,985,802
1,985,802


5.


Debtors

2021
2020
£
£


Trade debtors
132,616
-

Other debtors
75,747
37,393

208,363
37,393



6.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
263,570
200,667

263,570
200,667


Page 6

 
PECKVALE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
59,845
59,716

Corporation tax
41,859
26,927

Other creditors
287,503
216,853

Accruals and deferred income
201,200
90,000

590,407
393,496



8.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
1,077,444
1,116,160

Other loans
201,806
201,806

1,279,250
1,317,966


The following liabilities were secured:




Details of security provided:

All the loans and bank overdraft are secured via fixed and floating charge over the assets of the company.


9.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
263,570
200,667




10.


Related party transactions

Shaban Suleman is the director and shareholder of the Peckvale Limited.  
During the period, the company provided loans of £49,350.  As at the balance sheet date, the company owed the director £85,671 (2022: £135,021) which is shown in creditors due within one year. 
The above balances are payable on demand and therefore there are no significant differences between
Page 7

 
PECKVALE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.Related party transactions (continued)

Page 8

 
PECKVALE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.Related party transactions (continued)



11.


Controlling party

The company is under the control of Shaban Suleman who is the sole director and shareholder of the company. 

 
Page 9