Company registration number 08996214 (England and Wales)
PEAL CAPITAL PARTNERS UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
PEAL CAPITAL PARTNERS UK LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 12
PEAL CAPITAL PARTNERS UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
3,639
6,501
Investments
5
117,578
117,578
121,217
124,079
Current assets
Debtors
7
51,404
86,768
Investments
8
588
290
Cash at bank and in hand
30,674
41,450
82,666
128,508
Creditors: amounts falling due within one year
9
(125,049)
(102,054)
Net current (liabilities)/assets
(42,383)
26,454
Total assets less current liabilities
78,834
150,533
Creditors: amounts falling due after more than one year
10
(15,621)
(23,850)
Provisions for liabilities
(691)
(1,235)
Net assets
62,522
125,448
Capital and reserves
Called up share capital
11
49,448
49,448
Share premium account
406,139
406,139
Capital redemption reserve
3,310
3,310
Profit and loss reserves
(396,375)
(333,449)
Total equity
62,522
125,448
PEAL CAPITAL PARTNERS UK LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 21 August 2024 and are signed on its behalf by:
K S O'Mahony
Director
Company Registration No. 08996214
PEAL CAPITAL PARTNERS UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
Share capital
Share premium account
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
£
Balance at 1 January 2022
49,448
406,139
3,310
(315,829)
143,068
Year ended 31 December 2022:
Loss and total comprehensive income for the year
-
-
-
(17,620)
(17,620)
Balance at 31 December 2022
49,448
406,139
3,310
(333,449)
125,448
Year ended 31 December 2023:
Loss and total comprehensive income for the year
-
-
-
(62,926)
(62,926)
Balance at 31 December 2023
49,448
406,139
3,310
(396,375)
62,522
PEAL CAPITAL PARTNERS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
1
Accounting policies
Company information

PEAL Capital Partners UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Portman House, 2 Portman Street, London, W1H 6DU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% reducing balance
Computer equipment
3 year straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

PEAL CAPITAL PARTNERS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies (Continued)
- 5 -

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

PEAL CAPITAL PARTNERS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies (Continued)
- 6 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

PEAL CAPITAL PARTNERS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies (Continued)
- 7 -
1.9
Derivatives

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.

 

A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

PEAL CAPITAL PARTNERS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies (Continued)
- 8 -
1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 5 (2022 - 5).

3
Taxation
2023
2022
£
£
Deferred tax
Origination and reversal of timing differences
(544)
718
PEAL CAPITAL PARTNERS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 9 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
20,790
Additions
572
At 31 December 2023
21,362
Depreciation and impairment
At 1 January 2023
14,289
Depreciation charged in the year
3,434
At 31 December 2023
17,723
Carrying amount
At 31 December 2023
3,639
At 31 December 2022
6,501
5
Fixed asset investments
2023
2022
£
£
Other investments other than loans
117,578
117,578
6
Financial instruments
2023
2022
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
588
290
PEAL CAPITAL PARTNERS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 10 -
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
30,000
32,507
Other debtors
5,050
43,188
Prepayments and accrued income
16,354
11,073
51,404
86,768
8
Current asset investments
2023
2022
£
£
Other investments
588
290
9
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
8,487
8,487
Trade creditors
23,662
11,952
Taxation and social security
39,473
55,166
Other creditors
53,427
26,449
125,049
102,054
10
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
15,621
23,850
PEAL CAPITAL PARTNERS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 11 -
11
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
42,008 Ordinary voting shares of £1 each
42,008
42,008
7,440 Ordinary non-voting shares of £1 each
7,440
7,440
49,448
49,448

Ordinary voting shares have full voting rights, rights to dividends and rights to participate in a distribution of capital on winding up.

 

Ordinary non-voting shares have the same rights except they have no entitlement to vote.

12
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Management fees and expenses reimbursed received
Management fees paid
2023
2022
2023
2022
£
£
£
£
Entities over which the entity has control, joint control or significant influence
531,474
505,717
-
50,062

The following amounts were outstanding at the reporting end date:

2023
2022
Amounts due to related parties
£
£
PEAL Capital Group Limited (registered in Republic of Ireland)
18,315
-
PEAL CAPITAL PARTNERS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
12
Related party transactions (Continued)
- 12 -

The following amounts were outstanding at the reporting end date:

2023
2022
Amounts due from related parties
£
£
PEAL Capital Group Limited (registered in Republic of Ireland)
-
43,188
Key management personnel
112
-

Included in the amount due is interest charged to PEAL Capital Group Limited of £548 (2022: £3,739) and interest charged from PEAL Capital Group Limited of £878 (2022: £Nil).

2023-12-312023-01-01false21 August 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityK S O'MahonyT MandalJ AitkenA Haynesfalsefalse089962142023-01-012023-12-31089962142023-12-31089962142022-12-3108996214core:OtherPropertyPlantEquipment2023-12-3108996214core:OtherPropertyPlantEquipment2022-12-3108996214core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3108996214core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3108996214core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3108996214core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3108996214core:CurrentFinancialInstruments2023-12-3108996214core:CurrentFinancialInstruments2022-12-3108996214core:ShareCapital2023-12-3108996214core:ShareCapital2022-12-3108996214core:SharePremium2023-12-3108996214core:SharePremium2022-12-3108996214core:CapitalRedemptionReserve2023-12-3108996214core:CapitalRedemptionReserve2022-12-3108996214core:RetainedEarningsAccumulatedLosses2023-12-3108996214core:RetainedEarningsAccumulatedLosses2022-12-3108996214core:ShareCapital2021-12-3108996214core:SharePremium2021-12-3108996214core:CapitalRedemptionReserve2021-12-3108996214core:RetainedEarningsAccumulatedLosses2021-12-3108996214core:ShareCapitalOrdinaryShares2023-12-3108996214core:ShareCapitalOrdinaryShares2022-12-3108996214bus:Director12023-01-012023-12-3108996214core:RetainedEarningsAccumulatedLosses2022-01-012022-12-31089962142022-01-012022-12-3108996214core:RetainedEarningsAccumulatedLosses2023-01-012023-12-3108996214core:FurnitureFittings2023-01-012023-12-3108996214core:ComputerEquipment2023-01-012023-12-3108996214core:OtherPropertyPlantEquipment2022-12-3108996214core:OtherPropertyPlantEquipment2023-01-012023-12-3108996214core:Non-currentFinancialInstruments2023-12-3108996214core:Non-currentFinancialInstruments2022-12-3108996214bus:OrdinaryShareClass12023-12-3108996214bus:OrdinaryShareClass22023-12-3108996214bus:OrdinaryShareClass12023-01-012023-12-3108996214bus:OrdinaryShareClass22023-01-012023-12-3108996214bus:PrivateLimitedCompanyLtd2023-01-012023-12-3108996214bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3108996214bus:FRS1022023-01-012023-12-3108996214bus:AuditExemptWithAccountantsReport2023-01-012023-12-3108996214bus:Director22023-01-012023-12-3108996214bus:Director32023-01-012023-12-3108996214bus:Director42023-01-012023-12-3108996214bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP