Company registration number 13887648 (England and Wales)
PEACHES ONE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
PEACHES ONE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
PEACHES ONE LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2024
28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
18,483
-
0
Investment property
4
1,244,758
-
0
1,263,241
-
0
Current assets
Debtors
5
428,397
678,085
Cash at bank and in hand
33,086
-
0
461,483
678,085
Creditors: amounts falling due within one year
6
(5,783)
(3,540)
Net current assets
455,700
674,545
Total assets less current liabilities
1,718,941
674,545
Creditors: amounts falling due after more than one year
7
(1,727,776)
(680,785)
Net liabilities
(8,835)
(6,240)
Capital and reserves
Called up share capital
8
50
50
Profit and loss reserves
(8,885)
(6,290)
Total equity
(8,835)
(6,240)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

PEACHES ONE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2024
28 February 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 17 October 2024
Paolo Pieri
Director
Company Registration No. 13887648
PEACHES ONE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 2 February 2022
-
0
-
0
-
Period ended 28 February 2023:
Loss and total comprehensive income for the period
-
(6,290)
(6,290)
Issue of share capital
8
50
-
50
Balance at 28 February 2023
50
(6,290)
(6,240)
Year ended 28 February 2024:
Loss and total comprehensive income for the year
-
(2,595)
(2,595)
Balance at 28 February 2024
50
(8,885)
(8,835)
PEACHES ONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 4 -
1
Accounting policies
Company information

Peaches One Limited is a private company limited by shares incorporated in England and Wales. The registered office is 30 Cannon Street, London, United Kingdom, EC4M 6XH.

1.1
Reporting period

As the company was incorporated on 2 February 2022, by default the prior period was a 13 month accounting period and therefore the amounts presented are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

The company made a loss in this year and at the balance sheet date there were net liabilities. The company is dependent on support from its director in the form of an interest free loan, the director has confirmed that he will continue to provide this support for the foreseeable future.true

 

The director has also considered a period of at least twelve months from the date on which these financial statements have been signed and having considered all information available to him, believes it appropriate to prepare the financial statements on a going concern basis.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received for residential rentals provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% straight line

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.

1.6
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

PEACHES ONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
1
Accounting policies
(Continued)
- 5 -
1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

PEACHES ONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023
-
0
Additions
20,538
At 28 February 2024
20,538
Depreciation and impairment
At 1 March 2023
-
0
Depreciation charged in the year
2,055
At 28 February 2024
2,055
Carrying amount
At 28 February 2024
18,483
At 28 February 2023
-
0
4
Investment property
2024
£
Fair value
At 1 March 2023
-
0
Additions
1,244,758
At 28 February 2024
1,244,758
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
428,397
678,085
PEACHES ONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
5,783
3,540
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
1,727,776
680,785
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
10 A Ordinary Shares of £1 each
10
10
10
10
10 B Ordinary Shares of £1 each
10
10
10
10
10 C Ordinary Shares of £1 each
10
10
10
10
10 D Ordinary Shares of £1 each
10
10
10
10
10 E Ordinary Shares of £1 each
10
10
10
10
50
50
50
50

The A Ordinary shares have voting rights, whereas the B,C,D and E Ordinary shares do not have voting rights.

 

All classes of shares carry the right to dividends or distributions of an income nature.

 

On a return of capital on liquidation the A,B and C Ordinary shares have the right to the surplus assets of the company remaining after payment of its liabilities, but resricted to 110% of the respective nominal value of these share classes. On the D and E Ordinary shares the right to the surplus assets remaining is in proportion to the number of shares entitled to such capital rights.

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