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REGISTERED NUMBER: 04096031 (England and Wales)















PEONY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






PEONY LIMITED (REGISTERED NUMBER: 04096031)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 8


PEONY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Ms J M Chapman



REGISTERED OFFICE: Latchmere
Pinfold Lane
Irby in the Marsh
Skegness
Lincolnshire
PE24 5DH



REGISTERED NUMBER: 04096031 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT



BANKERS: TSB
11-13 Eastgate
Louth
Lincolnshire
LN11 9NB

PEONY LIMITED (REGISTERED NUMBER: 04096031)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,533 3,864
Investment property 5 750,000 750,000
754,533 753,864

CURRENT ASSETS
Cash at bank 1,932 1,433

CREDITORS
Amounts falling due within one year 6 77,929 66,849
NET CURRENT LIABILITIES (75,997 ) (65,416 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

678,536

688,448

CREDITORS
Amounts falling due after more than
one year

7

(116,448

)

(123,174

)

PROVISIONS FOR LIABILITIES (51,475 ) (46,340 )
NET ASSETS 510,613 518,934

PEONY LIMITED (REGISTERED NUMBER: 04096031)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 300 300
Fair value reserve 10 215,774 220,782
Retained earnings 294,539 297,852
SHAREHOLDERS' FUNDS 510,613 518,934

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 3 September 2024 and were signed by:





Ms J M Chapman - Director


PEONY LIMITED (REGISTERED NUMBER: 04096031)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Peony Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance and 4% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

PEONY LIMITED (REGISTERED NUMBER: 04096031)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

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. Accounts 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

PEONY LIMITED (REGISTERED NUMBER: 04096031)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 5,681
Additions 1,298
At 31 December 2023 6,979
DEPRECIATION
At 1 January 2023 1,817
Charge for year 629
At 31 December 2023 2,446
NET BOOK VALUE
At 31 December 2023 4,533
At 31 December 2022 3,864

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 750,000
NET BOOK VALUE
At 31 December 2023 750,000
At 31 December 2022 750,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2014 98,658
Valuation in 2015 25,000
Valuation in 2018 42,100
Valuation in 2022 100,629
Cost 483,613
750,000

PEONY LIMITED (REGISTERED NUMBER: 04096031)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. INVESTMENT PROPERTY - continued

If investment properties had not been revalued it would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 483,612 483,612

Investment property was valued on an open market basis on 31 December 2023 by the director .

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 1,599 1,206
Other creditors 76,330 65,643
77,929 66,849

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Other creditors 116,448 123,174

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Mortgage account 123,175 129,661

The mortgages are secured on the properties to which they relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
200 A Ordinary £1 200 200
100 B Ordinary £1 100 100
300 300

PEONY LIMITED (REGISTERED NUMBER: 04096031)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. RESERVES
Fair
value
reserve
£   
At 1 January 2023 220,782
Deferred tax (5,008 )

At 31 December 2023 215,774