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Registration number: 12438954

Peace Productions Ltd

Report of the Directors and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Peace Productions Ltd

Contents of The Financial Statements
for the Year Ended 29 February 2024

 

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Peace Productions Ltd

Company Information
for the Year Ended 29 February 2024

Director

Mr Joshua Abbott

Registered office

Rowans House
Running Mare Lane
Chelmsford
Essex
CM2 8PN

Accountants

Insight Strategic Associates Limited
Chartered Certified Accountants
10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Peace Productions 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 financial statements of Peace Productions Ltd for the year ended 29 February 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.
 

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.
 

This report is made solely to the Board of Directors of Peace Productions Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Peace Productions Ltd and state those matters that we have agreed to state to the Board of Directors of Peace Productions Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com
/gb/en/technical-activities/technical-resources-search/2009/october/factsheet-163-audit
-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Peace Productions Ltd and its Board of Directors as a body for our work or for this report.
 

It is your duty to ensure that Peace Productions 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 loss of Peace Productions Ltd. You consider that Peace Productions Ltd is exempt from the statutory audit requirement for the year.
 

We have not been instructed to carry out an audit or a review of the accounts of Peace Productions 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 statutory accounts.

......................................

Insight Strategic Associates
Chartered Certified Accountants

10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

7 October 2024

 

Peace Productions Ltd

(Registration number: 12438954 )
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,712

17,967

Current assets

 

Debtors

5

536

244

Cash at bank and in hand

 

2,152

247

 

2,688

491

Creditors: Amounts falling due within one year

6

(56,717)

(57,518)

Net current liabilities

 

(54,029)

(57,027)

Net liabilities

 

(47,317)

(39,060)

Capital and reserves

 

Called up share capital

7

2

2

Share premium reserve

1,499

1,499

Retained earnings

(48,818)

(40,561)

Shareholders' deficit

 

(47,317)

(39,060)

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 October 2024
 

 

Peace Productions Ltd

(Registration number: 12438954 )
Balance Sheet as at 29 February 2024

.........................................
Mr Joshua Abbott
Director

 

Peace Productions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Rowans House
Running Mare Lane
Chelmsford
Essex
CM2 8PN
England

These financial statements were authorised for issue by the director on 7 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

Peace Productions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

Straight line over four years

Fixtures & Fittings

Straight line over 3 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Peace Productions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

2

Accounting policies (continued)

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Peace Productions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2023

23,971

20,549

44,520

Additions

2,260

-

2,260

At 29 February 2024

26,231

20,549

46,780

Depreciation

At 1 March 2023

12,854

13,699

26,553

Charge for the year

6,665

6,850

13,515

At 29 February 2024

19,519

20,549

40,068

Carrying amount

At 29 February 2024

6,712

-

6,712

At 28 February 2023

11,117

6,850

17,967

5

debtors

Current

2024
£

2023
£

Trade debtors

536

244

 

536

244

6

Creditors

Creditors: amounts falling due within one year

 

Peace Productions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Creditors (continued)

2024
£

2023
£

Due within one year

Trade creditors

1,250

577

Accruals and deferred income

587

1,326

Other creditors

54,880

55,615

56,717

57,518

 

Peace Productions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

8

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

8,338

-