Registration number:
Peak Group London Ltd
for the Year Ended 31 August 2023
Peak Group London Ltd
Contents
Company Information |
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Directors' Report |
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Profit and Loss Account |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Peak Group London Ltd
Company Information
Directors |
Mr Guy Hayden Mr Mark John Simpson |
Registered office |
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Accountants |
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Peak Group London Ltd
Directors' Report for the Year Ended 31 August 2023
The directors present their report and the financial statements for the year ended 31 August 2023.
Directors of the company
The directors who held office during the year were as follows:
Financial instruments
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Approved and authorised by the
......................................... |
Peak Group London Ltd
Profit and Loss Account for the Year Ended 31 August 2023
Note |
2023 |
2022 |
|
Turnover |
|
|
|
Cost of sales |
( |
( |
|
Gross profit |
|
|
|
Administrative expenses |
( |
( |
|
Operating (loss)/profit |
(334,654) |
12,308 |
|
Interest payable and similar expenses |
( |
( |
|
Loss before tax |
( |
( |
|
Tax on loss |
- |
( |
|
Loss for the financial year |
( |
( |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Peak Group London Ltd
(Registration number: 08618497)
Balance Sheet as at 31 August 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Tangible assets |
( |
|
|
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current (liabilities)/assets |
( |
|
|
Total assets less current liabilities |
( |
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Net (liabilities)/assets |
( |
|
|
Capital and reserves |
|||
Called up share capital |
100 |
100 |
|
Retained earnings |
(652,447) |
177,330 |
|
Shareholders' (deficit)/funds |
(652,347) |
177,430 |
For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
......................................... |
Peak Group London Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Peak Group London Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)
2 |
Accounting policies (continued) |
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Furniture and fittings |
25% reducing balance |
Motor Cars |
20% reducing balance |
Computer equipment |
20% reducing balance |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Other gains and losses |
The analysis of the company's other gains and losses for the year is as follows:
2023 |
2022 |
|
Gain on disposal of tangible assets |
|
- |
Peak Group London Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)
Operating (loss)/profit |
Arrived at after charging/(crediting)
2023 |
2022 |
|
Depreciation expense |
|
|
Operating lease expense - plant and machinery |
|
|
Profit on disposal of property, plant and equipment |
( |
- |
Staff costs |
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
2023 |
2022 |
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Administration and support |
|
|
|
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Peak Group London Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)
Tangible assets |
Fixtures and fittings |
Plant and machinery |
Office equipment |
Motor vehicles |
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Cost or valuation |
|||||
At 1 September 2022 |
|
|
|
|
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Disposals |
- |
( |
- |
( |
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At 31 August 2023 |
|
- |
|
- |
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Depreciation |
|||||
At 1 September 2022 |
|
|
|
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Charge for the year |
|
- |
|
|
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Eliminated on disposal |
- |
( |
- |
( |
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At 31 August 2023 |
|
- |
|
|
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Carrying amount |
|||||
At 31 August 2023 |
|
- |
|
( |
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At 31 August 2022 |
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- |
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Total |
|||||
Cost or valuation |
|||||
At 1 September 2022 |
|
||||
Disposals |
( |
||||
At 31 August 2023 |
|
||||
Depreciation |
|||||
At 1 September 2022 |
|
||||
Charge for the year |
|
||||
Eliminated on disposal |
( |
||||
At 31 August 2023 |
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Carrying amount |
|||||
At 31 August 2023 |
( |
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At 31 August 2022 |
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Peak Group London Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)
Debtors |
Current |
2023 |
2022 |
Trade debtors |
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Other debtors |
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Creditors |
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
- |
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Trade creditors |
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Amounts due to related parties |
- |
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Social security and other taxes |
|
- |
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Outstanding defined contribution pension costs |
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- |
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Other payables |
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Due after one year |
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Loans and borrowings |
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Related party transactions |
Transactions with directors |
2023 |
At 1 September 2022 |
Advances to director |
Repayments by director |
At 31 August 2023 |
Mr Guy Hayden |
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( |
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( |
Mr Mark John Simpson |
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( |
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( |
Peak Group London Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)
9 |
Related party transactions (continued) |
2022 |
At 1 September 2021 |
Advances to director |
Repayments by director |
At 31 August 2022 |
Mr Guy Hayden |
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( |
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( |
( |
Mr Mark John Simpson |
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( |
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( |
( |
Summary of transactions with all associates