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Company No: 07961089 (England and Wales)

PEGGA HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

PEGGA HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

PEGGA HOLDINGS LIMITED

BALANCE SHEET

As at 31 May 2024
PEGGA HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,530,667 1,392,836
Investments 4 175,100 175,100
1,705,767 1,567,936
Current assets
Stocks 5 28,100 39,300
Debtors 6 1,984,963 1,622,376
Cash at bank and in hand 3,644 9,526
2,016,707 1,671,202
Creditors: amounts falling due within one year 7 ( 460,912) ( 30,233)
Net current assets 1,555,795 1,640,969
Total assets less current liabilities 3,261,562 3,208,905
Creditors: amounts falling due after more than one year 8 ( 204,045) ( 608,622)
Provision for liabilities ( 171,641) ( 34,716)
Accruals and deferred income ( 2,000) 0
Net assets 2,883,876 2,565,567
Capital and reserves
Called-up share capital 100 100
Profit and loss account 2,883,776 2,565,467
Total shareholders' funds 2,883,876 2,565,567

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of PEGGA Holdings Limited (registered number: 07961089) were approved and authorised for issue by the Board of Directors on 07 September 2024. They were signed on its behalf by:

Mr P T Govier
Director
Mr P F Govier
Director
PEGGA HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
PEGGA HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

PEGGA Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Global Park, Station Road, Bampton, EX16 9NG, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for building goods and 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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 10 years straight line
Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 June 2023 844,102 741,589 346,176 1,931,867
Additions 0 242,972 46,001 288,973
Disposals 0 ( 21,815) ( 88,318) ( 110,133)
At 31 May 2024 844,102 962,746 303,859 2,110,707
Accumulated depreciation
At 01 June 2023 0 338,403 200,628 539,031
Charge for the financial year 0 77,879 29,665 107,544
Disposals 0 ( 8,939) ( 57,596) ( 66,535)
At 31 May 2024 0 407,343 172,697 580,040
Net book value
At 31 May 2024 844,102 555,403 131,162 1,530,667
At 31 May 2023 844,102 403,186 145,548 1,392,836

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 June 2023 175,100
At 31 May 2024 175,100
Carrying value at 31 May 2024 175,100
Carrying value at 31 May 2023 175,100

5. Stocks

2024 2023
£ £
Stocks 28,100 39,300

6. Debtors

2024 2023
£ £
Trade debtors 103,931 104,256
Amounts owed by own subsidiaries 1,059,083 0
Amounts owed by associates 3,296 0
Other debtors 818,653 1,518,120
1,984,963 1,622,376

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts (secured) 8,265 17
Trade creditors 89,048 33,636
Amounts owed to directors 70,462 42,461
Taxation and social security 93,612 8,614
Obligations under finance leases and hire purchase contracts (secured) 194,041 0
Other creditors 5,484 ( 54,495)
460,912 30,233

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 117,454 133,950
Obligations under finance leases and hire purchase contracts (secured) 86,591 474,672
204,045 608,622

Hire purchase creditors are secured on the assets to which they relate. Bank loans are secured on assets of the company.

9. Related party transactions

Transactions with the entity's directors

At 31 May 2023, the balance owed by a director was £96,956. During the year, £16,030 was advanced to the director. At 31 May 2024, the balance owed by the director was £112,986.