REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2023 |
for |
PEACH 20/20 LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2023 |
for |
PEACH 20/20 LIMITED |
PEACH 20/20 LIMITED (REGISTERED NUMBER: 05026224) |
Contents of the Financial Statements |
for the year ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
PEACH 20/20 LIMITED |
Company Information |
for the year ended 31 December 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Auditors: |
Northern Assurance Buildings |
9-21 Princess Street |
Manchester |
M2 4DN |
PEACH 20/20 LIMITED (REGISTERED NUMBER: 05026224) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 5 |
Tangible assets | 6 |
Current assets |
Debtors | 7 |
Cash at bank |
Creditors |
Amounts falling due within one year | 8 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 9 |
Share premium | 10 |
Other reserves | 10 |
Retained earnings | 10 | ( |
) | ( |
) |
Shareholders' funds |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
PEACH 20/20 LIMITED (REGISTERED NUMBER: 05026224) |
Notes to the Financial Statements |
for the year ended 31 December 2023 |
1. | Statutory information |
Peach 20/20 Limited is a |
2. | Statement of compliance |
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. |
3. | Accounting policies |
Basis of preparing the financial statements |
The presentation currency of these financial statements is Sterling. All amounts in these financial statements have been rounded to the nearest £1. |
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. |
The following principal accounting policies have been applied: |
Going concern |
As at year end the company has net current liabilities. The company is dependent, in the absence of other funding, on the continued financial support from a company under common control. The company under common control has confirmed its commitment to provide the necessary support by providing adequate facilities. |
On that basis the directors consider it appropriate to prepare the financial statements on a going concern basis. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Computer equipment | - |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. |
Financial instruments |
Short term debtors are measured at transaction price, less any impairment. |
Short term creditors are measured at the transaction price. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date. |
PEACH 20/20 LIMITED (REGISTERED NUMBER: 05026224) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
3. | Accounting policies - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
4. | Employees and directors |
The average number of employees during the year was NIL (2022 - NIL). |
5. | Intangible fixed assets |
Goodwill |
£ |
Cost |
At 1 January 2023 |
and 31 December 2023 |
Amortisation |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
Net book value |
At 31 December 2023 |
At 31 December 2022 |
PEACH 20/20 LIMITED (REGISTERED NUMBER: 05026224) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
6. | Tangible fixed assets |
Computer |
equipment |
£ |
Cost |
At 1 January 2023 |
Additions |
At 31 December 2023 |
Depreciation |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
Net book value |
At 31 December 2023 |
At 31 December 2022 |
7. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
8. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Other loans |
Trade creditors |
Other creditors |
Accruals and deferred income |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 33,334 | 33,334 |
PEACH 20/20 LIMITED (REGISTERED NUMBER: 05026224) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
10. | Reserves |
Called up share capital |
The called up share capital represents the nominal value of the shares issued. |
Share premium account |
The premium account includes the premium on issue of equity shares, net of any issue costs. |
Capital contribution reserve |
The capital contribution reserve represents amounts advanced by the parent company for settling outstanding liabilities. |
Profit and loss account |
The profit and loss account represents cumulative profits or losses net of dividends paid and other adjustments. |
11. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
12. | Related party disclosures |
During the year there were purchases of £110,215 (2022- £89,246) with companies under common control. At year end there were amounts owed to companies under control of £14,545 (2022- £38,446) included in trade creditors. |
Included in other loans is a loan balance of £200,000 (2022 - £150,000) with a company under common control. The loan carries no interest and is repayable on demand. |
During the year there were purchases of £89,451 (2022 - £121,141) and sales of £NIL (2022 - £28,800) with a shareholder. At year end there were amounts owed to a shareholder of £8,527 (2022 - £1,335) included in trade creditors. |
13. | Post balance sheet events |
In June 2024 Mondiale Media Limited became the ultimate controlling party. |
14. | Ultimate controlling party |
The immediate parents undertaking of the company is Mondiale Hospitality Holdings LLP, incorporated in England and Wales. Their registered office is Waterloo Place, Watson Square, Stockport, Cheshire, SK1 3AZ. |
The parent undertaking and ultimate controlling party of the smallest and largest group for which consolidated accounts are prepared is Mondiale Hospitality Holdings LLP incorporated in England and Wales. Consolidated accounts are available from their registered at Waterloo Place, Watson Square, Stockport, Cheshire, SK1 3AZ. |
Mondiale Hospitality Holdings LLP is directed by Damian Walsh, who has majority interest. |