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Registration number: 04367152

Peak Property Services Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

image-name
 

Peak Property Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Peak Property Services Limited

Company Information

Directors

Mrs L Stewart

Mr M Stewart

Company secretary

Mrs L Stewart

Registered office

22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

Accountants

Michael J Emery & Co Limited
Chartered Accountants
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

 

Peak Property Services Limited

(Registration number: 04367152)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,058

1,125

Investment property

5

739,656

739,656

 

740,714

740,781

Current assets

 

Debtors

6

1,613

4,839

Cash at bank and in hand

 

150,287

181,909

 

151,900

186,748

Creditors: Amounts falling due within one year

7

(132,683)

(177,674)

Net current assets

 

19,217

9,074

Total assets less current liabilities

 

759,931

749,855

Provisions for liabilities

(201)

(214)

Net assets

 

759,730

749,641

Capital and reserves

 

Called up share capital

100

100

Retained earnings

759,630

749,541

Shareholders' funds

 

759,730

749,641

For the financial year ending 31 March 2024 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 13 August 2024 and signed on its behalf by:
 

 

Peak Property Services Limited

(Registration number: 04367152)
Balance Sheet as at 31 March 2024

.........................................
Mrs L Stewart
Company secretary and director

 

Peak Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales, Registration number 04367152.

The address of its registered office is:
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ
England

These financial statements were authorised for issue by the Board on 13 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

Turnover

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.

Government grants

Grant income is recognised using the accruals model and is matched against the expenditure towards which it is intended to contribute.

Tax

The tax expense for the period comprises current and 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.

 

Peak Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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

20% on cost

Motor vehicles

25% on cost

Computer equipment

20% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate. Values used are observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Peak Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the year, including directors, was 2 (2023 - 2).

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

265

2,957

12,000

15,222

Additions

-

399

-

399

At 31 March 2024

265

3,356

12,000

15,621

Depreciation

At 1 April 2023

265

1,832

12,000

14,097

Charge for the year

-

466

-

466

At 31 March 2024

265

2,298

12,000

14,563

Carrying amount

At 31 March 2024

-

1,058

-

1,058

At 31 March 2023

-

1,125

-

1,125

 

Peak Property Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Investment properties

2024
£

At 1 April

739,656

At 31 March

739,656

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2024
£

2023
£

Prepayments

277

818

Other debtors

1,336

4,021

 

1,613

4,839

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals

1,758

1,607

Corporation tax control

2,848

30

Directors loan account

127,440

174,525

PAYE and NIC creditor

637

1,512

132,683

177,674