1 false false false false false false false false false false true false false false false false false No description of principal activity 2022-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07745336 2022-09-01 2023-08-31 07745336 2023-08-31 07745336 2022-08-31 07745336 2021-09-01 2022-08-31 07745336 2022-08-31 07745336 2021-08-31 07745336 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 07745336 bus:Director1 2022-09-01 2023-08-31 07745336 core:WithinOneYear 2023-08-31 07745336 core:WithinOneYear 2022-08-31 07745336 core:ShareCapital 2023-08-31 07745336 core:ShareCapital 2022-08-31 07745336 core:RetainedEarningsAccumulatedLosses 2023-08-31 07745336 core:RetainedEarningsAccumulatedLosses 2022-08-31 07745336 bus:SmallEntities 2022-09-01 2023-08-31 07745336 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 07745336 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 07745336 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 07745336 bus:FullAccounts 2022-09-01 2023-08-31 07745336 bus:OrdinaryShareClass1 2023-08-31 07745336 bus:OrdinaryShareClass1 2022-08-31
COMPANY REGISTRATION NUMBER: 07745336
PeatMalt Limited
Filleted Unaudited Financial Statements
31 August 2023
PeatMalt Limited
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
228
Current assets
Cash at bank and in hand
16,475
52,803
Creditors: amounts falling due within one year
6
2,016
6,347
--------
--------
Net current assets
14,459
46,456
--------
--------
Total assets less current liabilities
14,459
46,684
--------
--------
Net assets
14,459
46,684
--------
--------
Capital and reserves
Called up share capital
7
100
100
Profit and loss account
14,359
46,584
--------
--------
Shareholders funds
14,459
46,684
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 11 March 2024 , and are signed on behalf of the board by:
Mr B Murphy
Director
Company registration number: 07745336
PeatMalt Limited
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 September 2022
23,128
23,128
Disposals
( 23,128)
( 23,128)
--------
--------
At 31 August 2023
--------
--------
Depreciation
At 1 September 2022
22,900
22,900
Charge for the year
228
228
Disposals
( 23,128)
( 23,128)
--------
--------
At 31 August 2023
--------
--------
Carrying amount
At 31 August 2023
--------
--------
At 31 August 2022
228
228
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
1,080
1,020
Corporation tax
4,703
Director loan accounts
936
624
-------
-------
2,016
6,347
-------
-------
7. Called up share capital
Authorised share capital
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
8. Related party transactions
At the year end the company owed the director £936 (2022 - £624) which is shown amongst creditors.