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REGISTERED NUMBER: 06392854 (England and Wales)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PEAK HIRE LIMITED

PEAK HIRE LIMITED (REGISTERED NUMBER: 06392854)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 December 2023




Page

Company information 1

Statement of financial position 2

Notes to the financial statements 3


PEAK HIRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 December 2023







DIRECTORS: Mr K Ashman
Miss M L Ward





REGISTERED OFFICE: Unit 6
Churchill Industrial Estate
Churchill Road
Cheltenham
Gloucestershire
GL53 7EG





REGISTERED NUMBER: 06392854 (England and Wales)





ACCOUNTANTS: Mitchell Glanville Limited
41 Rodney Road
Cheltenham
Gloucestershire
GL50 1HX

PEAK HIRE LIMITED (REGISTERED NUMBER: 06392854)

STATEMENT OF FINANCIAL POSITION
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 239,295 264,821

CURRENT ASSETS
Debtors 5 25,982 61,272
Cash at bank 152,013 133,519
177,995 194,791
CREDITORS
Amounts falling due within one year 6 50,971 186,847
NET CURRENT ASSETS 127,024 7,944
TOTAL ASSETS LESS CURRENT
LIABILITIES

366,319

272,765

CREDITORS
Amounts falling due after more than one year 7 - (24,167 )

PROVISIONS FOR LIABILITIES (60,369 ) (61,284 )
NET ASSETS 305,950 187,314

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 305,750 187,114
SHAREHOLDERS' FUNDS 305,950 187,314

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 April 2024 and were signed on its behalf by:




Mr K Ashman - Director


PEAK HIRE LIMITED (REGISTERED NUMBER: 06392854)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 December 2023

1. STATUTORY INFORMATION

Peak Hire Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost
Equipment, fixtures & fitting - 25% on cost

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

PEAK HIRE LIMITED (REGISTERED NUMBER: 06392854)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 December 2023

4. TANGIBLE FIXED ASSETS
Improvements Equipment,
to Plant and Motor fixtures
property machinery vehicles & fitting Totals
£    £    £    £    £   
COST
At 1 January 2023 4,315 723,772 42,740 16,478 787,305
Additions - 65,423 - 3,004 68,427
At 31 December 2023 4,315 789,195 42,740 19,482 855,732
DEPRECIATION
At 1 January 2023 4,315 486,856 20,432 10,881 522,484
Charge for year - 83,604 7,436 2,913 93,953
At 31 December 2023 4,315 570,460 27,868 13,794 616,437
NET BOOK VALUE
At 31 December 2023 - 218,735 14,872 5,688 239,295
At 31 December 2022 - 236,916 22,308 5,597 264,821

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 5,299 43,684
Other debtors 7,000 7,000
Prepayments 13,683 10,588
25,982 61,272

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) - 10,000
Trade creditors 509 103,931
Tax 17,829 -
VAT 10,971 2,044
Directors' loan accounts 19,302 68,872
Accrued expenses 2,360 2,000
50,971 186,847

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 8) - 24,167

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans - 10,000

PEAK HIRE LIMITED (REGISTERED NUMBER: 06392854)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 December 2023

8. LOANS - continued
2023 2022
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years - 24,167

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 32,280 30,375
Between one and five years 23,820 56,250
56,100 86,625

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in creditors in an amount of £19,302 (2022 - £68,872) owed to the directors. This balance in interest free and repayable on demand.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the directors, Mr K Ashman and Miss M Ward, who between them own 100% of the share capital.