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Registration number: 05582034

Peak District Ventures Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Peak District Ventures Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Peak District Ventures Limited

Company Information

Directors

Mr S Wake

Mrs S Lucop-Wake

Registered office

2 Western Street
Barnsley
South Yorkshire
S70 2BP

Accountants

Cameron Alexander Accountants Ltd
Chartered Certified Accountants
2 Western Street
Barnsley
South Yorkshire
S70 2BP

 

Peak District Ventures Limited

(Registration number: 05582034)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

7,272

8,930

Current assets

 

Debtors

4

1,483

1,410

Cash at bank and in hand

 

7,792

13,573

 

9,275

14,983

Creditors: Amounts falling due within one year

5

(10,755)

(13,665)

Net current (liabilities)/assets

 

(1,480)

1,318

Total assets less current liabilities

 

5,792

10,248

Provisions for liabilities

(718)

(1,105)

Net assets

 

5,074

9,143

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

5,072

9,141

Shareholders' funds

 

5,074

9,143

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 January 2024 and signed on its behalf by:
 

.........................................
Mr S Wake
Director

 

Peak District Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

Accounting policies

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 deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Plant and machinery etc

- 25% on reducing balance

 

Peak District Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

3

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2022

20,880

13,408

3,715

38,003

Additions

599

-

-

599

At 31 October 2023

21,479

13,408

3,715

38,602

Depreciation

At 1 November 2022

17,918

9,340

1,815

29,073

Charge for the year

765

1,017

475

2,257

At 31 October 2023

18,683

10,357

2,290

31,330

Carrying amount

At 31 October 2023

2,796

3,051

1,425

7,272

At 31 October 2022

2,962

4,068

1,900

8,930

 

Peak District Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Debtors

Current

2023
£

2022
£

Other debtors

1,483

1,410

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

4

34

Accruals and deferred income

430

530

Other creditors

10,321

13,101

10,755

13,665

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

7

Related party transactions

Transactions with directors

2023

At 1 November 2022
£

Advances to director
£

At 31 October 2023
£

Mr S Wake

No interest is charged on the loan and there is no fixed date of repayment.

13,101

(2,780)

10,321