Registered number
13561945
PEGI NIGHT LIMITED
Filleted Accounts
31 July 2023
PEGI NIGHT LIMITED
Registered number: 13561945
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 118,370 118,370
Current assets
Debtors 4 618 136
Cash at bank and in hand 6,645 4,382
7,263 4,518
Creditors: amounts falling due within one year 5 (4,998) (3,145)
Net current assets 2,265 1,373
Total assets less current liabilities 120,635 119,743
Creditors: amounts falling due after more than one year 6 (120,574) (120,574)
Net assets/(liabilities) 61 (831)
Capital and reserves
Called up share capital 100 100
Profit and loss account (39) (931)
Shareholder's funds 61 (831)
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 member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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 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.
Dr Sharanjit K Uppal
Director
Approved by the board on 30 October 2023
PEGI NIGHT LIMITED
Notes to the Accounts
for the year ended 31 July 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.
Investments
Investment property, which is property held to earn rentals and/or for capital appreciation. Subsequently it is measured at fair value at the reporting date. The surplus or deficit on revaluation is recognised in profit and loss. Where fair value cannot be achieved without undue costs or effort, investment property is accounted for as a tangible fixed asset.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Investments
Other
investments
£
Cost
At 1 August 2022 118,370
At 31 July 2023 118,370
The fair value of the investment property has been arrived on the basis of the purchase cost and refurbisment value of the property for the first year of ownership.
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