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Registered Number: 11820972


 

 

 

PEACE VILLAGE PROPERTIES LTD


Abridged Accounts
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
Report to the directors on the preparation of the unaudited statutory accounts of PEACE VILLAGE PROPERTIES LTD for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of PEACE VILLAGE PROPERTIES LTD for the year ended 29 February 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.

This report is made solely to the Board of Directors of PEACE VILLAGE PROPERTIES LTD, as a body, in accordance with the terms of our engagement letter dated 03 September 2024 . Our work has been undertaken solely to prepare for your approval the accounts of PEACE VILLAGE PROPERTIES LTD and state those matters that we have agreed to state to the Board of Directors of PEACE VILLAGE PROPERTIES LTD, as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PEACE VILLAGE PROPERTIES LTD and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that PEACE VILLAGE PROPERTIES LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of PEACE VILLAGE PROPERTIES LTD.You consider that PEACE VILLAGE PROPERTIES LTD is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of PEACE VILLAGE PROPERTIES LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements 29 February 2024.



....................................................
Step Accountants
Step Accountancy Services Limited

413 Buxton Road
Stockport
Cheshire
SK2 7EY
03 September 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 156,435    1,607 
156,435    1,607 
Current assets      
Debtors 89,595    61,996 
Cash at bank and in hand 7,107    65,973 
96,702    127,969 
Creditors: amount falling due within one year (28,882)   (5,397)
Net current assets 67,820    122,572 
 
Total assets less current liabilities 224,255    124,179 
Creditors: amount falling due after more than one year (224,025)   (123,857)
Net assets 230    322 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 130    222 
Shareholders' funds 230    322 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 03 September 2024 and were signed on its behalf by:


-------------------------------
Sajid Ahmed Arain
Director
2
General Information
PEACE VILLAGE PROPERTIES LTD is a private company, limited by shares, registered in , registration number 11820972, registration address 87 School Road, Sale, M33 7XA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 18 Reducing Balance
Computer Equipment 18 Reducing Balance
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Land and Buildings   Total
  £   £   £   £   £
At 01 March 2023   2,583    1,000      3,583 
Additions 21,848    1,102      132,366    155,316 
Disposals        
At 29 February 2024 21,848    3,685    1,000    132,366    158,899 
Depreciation
At 01 March 2023        
Charge for year   1,740    724      2,464 
On disposals        
At 29 February 2024   1,740    724      2,464 
Net book values
Closing balance as at 29 February 2024 21,848    1,945    276    132,366    156,435 
Opening balance as at 01 March 2023   1,270    337      1,607 

The net book value of Land and Buildings includes £ 132,366 in respect of assets leased under finance leases or hire purchase contracts.

3