REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 4 APRIL 2023 TO 31 MARCH 2024 |
FOR |
PEAK NETWORK SOLUTIONS LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 4 APRIL 2023 TO 31 MARCH 2024 |
FOR |
PEAK NETWORK SOLUTIONS LIMITED |
PEAK NETWORK SOLUTIONS LIMITED (REGISTERED NUMBER: 14780131) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 4 April 2023 to 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
PEAK NETWORK SOLUTIONS LIMITED |
COMPANY INFORMATION |
for the Period 4 April 2023 to 31 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditor |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
PEAK NETWORK SOLUTIONS LIMITED (REGISTERED NUMBER: 14780131) |
BALANCE SHEET |
31 March 2024 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
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 by the Board of Directors and authorised for issue on |
PEAK NETWORK SOLUTIONS LIMITED (REGISTERED NUMBER: 14780131) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 4 April 2023 to 31 March 2024 |
1. | STATUTORY INFORMATION |
Peak Network Solutions Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company has made an operating loss of £49,069 in the period and has net liabilities of £48,969 as at 31 March 2024. However, included within short term creditors is a loan from One Stop Hire Limited, the parent company, of £88,504. One Stop Hire Limited have confirmed that they will support the company financially for the next 12 months. |
After making enquiries and considering current trade, future plans and forecasts, the directors have confirmed that, together with the support of One Stop Hire Limited, it has adequate working capital to continue trade in the foreseeable future. On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover represents income receivable from the company's principal activity of providing IT goods and services. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and any accumulated impairment losses. |
Depreciation is provided at the following annual rates in order to write off the costs less estimated residual value of each asset over its estimated useful life. |
Computer equipment | - | 25% on cost |
Impairment of assets |
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit or loss. |
If an impairment loss is subsequently reversed, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset in prior periods. A reversal of an impairment loss is recognised immediately in the profit or loss. |
Financial instruments |
The company only holds basic financial instruments, as defined under Section 11 of FRS 102. |
Short term financial assets, including trade and other debtors and cash and bank balances, are measured at the transaction price. |
Short term financial liabilities, including trade and other creditors and amounts owed to group undertakings are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due. |
PEAK NETWORK SOLUTIONS LIMITED (REGISTERED NUMBER: 14780131) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 4 April 2023 to 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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 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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at thebalance 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 period 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
Additions |
At 31 March 2024 |
DEPRECIATION |
Charge for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
Prepayments |
PEAK NETWORK SOLUTIONS LIMITED (REGISTERED NUMBER: 14780131) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 4 April 2023 to 31 March 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes |
Other creditors |
Accrued expenses |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | ULTIMATE PARENT COMPANY |
The ultimate parent company is One Stop Hire Limited, a company registered in England and Wales, which prepares consolidated financial statements. Copies can be obtained from Sandringham House, Ackhurst Business Park, Foxhole Road, Chorley, PR7 1NY. |