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COMPANY REGISTRATION NUMBER: 07765305
Peacock Events and Services Limited
Filleted Unaudited Financial Statements
31 October 2023
Peacock Events and Services Limited
Financial Statements
Period from 1 October 2022 to 31 October 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Peacock Events and Services Limited
Statement of Financial Position
31 October 2023
31 Oct 23
30 Sep 22
Note
£
£
£
Fixed assets
Tangible assets
6
127,391
64,201
Current assets
Stocks
5,000
5,000
Debtors
7
786,647
962,941
Cash at bank and in hand
169,992
364,825
---------
------------
961,639
1,332,766
Creditors: amounts falling due within one year
8
1,058,684
876,904
------------
------------
Net current (liabilities)/assets
( 97,045)
455,862
---------
---------
Total assets less current liabilities
30,346
520,063
Provisions
Taxation including deferred tax
23,335
12,198
--------
---------
Net assets
7,011
507,865
--------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
7,010
507,864
-------
---------
Shareholders funds
7,011
507,865
-------
---------
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 period ending 31 October 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 period in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Peacock Events and Services Limited
Statement of Financial Position (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 30 July 2024 , and are signed on behalf of the board by:
Miss A List Brain
Director
Company registration number: 07765305
Peacock Events and Services Limited
Notes to the Financial Statements
Period from 1 October 2022 to 31 October 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 Preston Court, Court Lane, Preston, Canterbury, Kent, CT3 1DH.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill -
-
33% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. 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: Plant and machinery - 5 years straight line Fixtures and fittings - 10 years 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. Prior impairments are also reviewed for possible reversal at each reporting date. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 27 (2022: 31 ).
5. Intangible assets
Goodwill
£
Cost
At 1 October 2022 and 31 October 2023
25,000
--------
Amortisation
At 1 October 2022 and 31 October 2023
25,000
--------
Carrying amount
At 31 October 2023
--------
At 30 September 2022
--------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 October 2022
265,630
24,264
289,894
Additions
90,018
90,018
Disposals
( 3,542)
( 263)
( 3,805)
---------
--------
---------
At 31 October 2023
352,106
24,001
376,107
---------
--------
---------
Depreciation
At 1 October 2022
218,300
7,393
225,693
Charge for the period
24,187
2,378
26,565
Disposals
( 3,542)
( 3,542)
---------
--------
---------
At 31 October 2023
238,945
9,771
248,716
---------
--------
---------
Carrying amount
At 31 October 2023
113,161
14,230
127,391
---------
--------
---------
At 30 September 2022
47,330
16,871
64,201
---------
--------
---------
7. Debtors
31 Oct 23
30 Sep 22
£
£
Trade debtors
645,647
591,828
Other debtors
141,000
371,113
---------
---------
786,647
962,941
---------
---------
8. Creditors: amounts falling due within one year
31 Oct 23
30 Sep 22
£
£
Trade creditors
8,113
539
Amounts owed to group undertakings and undertakings in which the company has a participating interest
139,629
Corporation tax
6,183
38,338
Social security and other taxes
121,474
122,180
Breakage deposits
16,370
16,190
Credit card
10,028
17,701
Other creditors
756,887
681,956
------------
---------
1,058,684
876,904
------------
---------
9. Director's advances, credits and guarantees
During the year, advances of £44,655 were made to the Director and repayments of £946 were made by the Director. Interest was charged at a rate of 2.5% (2022: nil).
10. Related party transactions
At the year end, the company was owed £Nil from the director (2022: company owed the director £871). At the year end the company owed £136,629 (2022: £nil) to group companies. At the year end the company owed £nil (2022: £36,461) to a company associated by common control and was owed £nil (2022: £248,513) by another company associated by common control.
11. Controlling party
At the balance sheet date the immediate parent company was Zoology Ltd , a company registered in the United Kingdom. The address of the registered office is Stourmouth House, The Street, Canterbury, Kent, CT3 1HZ , United Kingdom.