Registered number
10362990
Peelico Limited
Filleted Accounts
31 March 2024
Peelico Limited
Registered number: 10362990
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 61,802 59,966
Current assets
Debtors 4 25 10
Cash at bank and in hand 1,577 733
1,602 743
Creditors: amounts falling due within one year 5 (44,300) (43,333)
Net current liabilities (42,698) (42,590)
Total assets less current liabilities 19,104 17,376
Provisions for liabilities (1,758) (1,309)
Net assets 17,346 16,067
Capital and reserves
Called up share capital 100 100
Revaluation reserve 6 8,966 5,579
Profit and loss account 8,280 10,388
Shareholders' funds 17,346 16,067
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Blayne Peel
Director
Approved by the board on 9 October 2024
Peelico Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Investments
Other
investments
£
Cost
At 1 April 2023 59,966
Revaluation 3,836
Disposals (2,000)
At 31 March 2024 61,802
4 Debtors 2024 2023
£ £
Trade debtors - 10
Other debtors 25 -
25 10
5 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals 400 1,020
Corporation Tax - 413
Other creditors 43,900 41,900
44,300 43,333
6 Revaluation reserve 2024 2023
£ £
At 1 April 2023 5,579 4,816
Gain on revaluation of land and buildings 3,387 763
At 31 March 2024 8,966 5,579
7 Other information
Peelico Limited is a private company limited by shares and incorporated in England. Its registered office is:
36 Coniston Way
Hornchurch
RM12 5EH
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