Registered number
10728756
Peepal Estate Agents Limited
Filleted Accounts
30 April 2023
Peepal Estate Agents Limited
Registered number: 10728756
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 36,754 33,436
Current assets
Debtors 4 7,907 24,751
Cash at bank and in hand 6,017 3,612
13,924 28,363
Creditors: amounts falling due within one year 5 (59,274) (44,067)
Net current liabilities (45,350) (15,704)
Total assets less current liabilities (8,596) 17,732
Creditors: amounts falling due after more than one year 6 (28,875) (28,621)
Net liabilities (37,471) (10,889)
Capital and reserves
Called up share capital 1,001 1,001
Profit and loss account (38,472) (11,890)
Shareholders' funds (37,471) (10,889)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. Surya Gurung
Director
Approved by the board on 25 October 2023
Peepal Estate Agents Limited
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Going concern
The going concern basis has been applied having regard to confirmation received from the director that he will provide finance for the foreseeable future.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 19 17
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2022 59,610
Additions 19,249
At 30 April 2023 78,859
Depreciation
At 1 May 2022 26,174
Charge for the year 15,931
At 30 April 2023 42,105
Net book value
At 30 April 2023 36,754
At 30 April 2022 33,436
4 Debtors 2023 2022
£ £
Other debtors 7,907 24,751
Included in other debtors is a balance of £5,000 (2022: £Nil) owing from Peepal Mortgages Limited. Mr. Surya Gurung is a director of both companies.
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 11,160
Trade creditors 1,200 1,800
Taxation and social security costs 27,088 25,121
Other creditors 30,986 5,986
59,274 44,067
Included in other creditors is a balance of £Nil (2022: £2,400) owing to Peepal Mortgages Limited. Mr. Surya Gurung is a director of both companies.
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 28,875 28,621
7 Controlling party
The company was controlled throughout the period by the director who owns all of the issued share capital.
8 Other information
Peepal Estate Agents Limited is a private company limited by shares and incorporated in England. Its registered office is:
19 Grosvenor Road
Aldershot
Hampshire
GU11 1DL
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