6 01/08/2023 31/07/2024 2024-07-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-08-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 12098862 2023-08-01 2024-07-31 12098862 2024-07-31 12098862 2023-07-31 12098862 2022-08-01 2023-07-31 12098862 2023-07-31 12098862 2022-07-31 12098862 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 12098862 bus:Director1 2023-08-01 2024-07-31 12098862 core:FurnitureFittingsToolsEquipment 2023-07-31 12098862 core:FurnitureFittingsToolsEquipment 2024-07-31 12098862 core:WithinOneYear 2024-07-31 12098862 core:WithinOneYear 2023-07-31 12098862 core:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 12098862 core:ShareCapital 2023-08-01 2024-07-31 12098862 core:RetainedEarningsAccumulatedLosses 2023-08-01 2024-07-31 12098862 core:AfterOneYear 2024-07-31 12098862 core:AfterOneYear 2023-07-31 12098862 core:ShareCapital 2024-07-31 12098862 core:ShareCapital 2023-07-31 12098862 core:RetainedEarningsAccumulatedLosses 2024-07-31 12098862 core:RetainedEarningsAccumulatedLosses 2023-07-31 12098862 core:ShareCapital 2022-07-31 12098862 core:RetainedEarningsAccumulatedLosses 2022-07-31 12098862 core:PreviouslyStatedAmount core:ShareCapital 2024-07-31 12098862 core:FurnitureFittingsToolsEquipment 2023-07-31 12098862 bus:SmallEntities 2023-08-01 2024-07-31 12098862 bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 12098862 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 12098862 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 12098862 bus:FullAccounts 2023-08-01 2024-07-31
Company registration number: 12098862
Peak PM Limited
Unaudited filleted financial statements
31 July 2024
Peak PM Limited
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Peak PM Limited
Statement of financial position
31 July 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 1,847 6,481
_______ _______
1,847 6,481
Current assets
Stocks 35,774 21,500
Debtors 6 147,845 95,059
Cash at bank and in hand 76,437 37,544
_______ _______
260,056 154,103
Creditors: amounts falling due
within one year 7 ( 163,846) ( 89,186)
_______ _______
Net current assets 96,210 64,917
_______ _______
Total assets less current liabilities 98,057 71,398
Creditors: amounts falling due
after more than one year 8 ( 22,990) ( 30,357)
Provisions for liabilities ( 461) ( 1,231)
_______ _______
Net assets 74,606 39,810
_______ _______
Capital and reserves
Called up share capital 100 10
Profit and loss account 74,506 39,800
_______ _______
Shareholders funds 74,606 39,810
_______ _______
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 October 2024 , and are signed on behalf of the board by:
Mr Steven Antony Morphet
Director
Company registration number: 12098862
Peak PM Limited
Statement of changes in equity
Year ended 31 July 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 August 2022 10 54,536 54,546
Profit for the year 79,764 79,764
_______ _______ _______
Total comprehensive income for the year - 79,764 79,764
Dividends paid and payable ( 94,500) ( 94,500)
_______ _______ _______
Total investments by and distributions to owners - ( 94,500) ( 94,500)
_______ _______ _______
At 31 July 2023 and 1 August 2023 10 39,800 39,810
Profit for the year 245,237 245,237
_______ _______ _______
Total comprehensive income for the year - 245,237 245,237
Issue of shares 90 90
Dividends paid and payable ( 210,531) ( 210,531)
_______ _______ _______
Total investments by and distributions to owners 90 ( 210,531) ( 210,441)
_______ _______ _______
At 31 July 2024 100 74,506 74,606
_______ _______ _______
Peak PM Limited
Notes to the financial statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is H & M Limited, The Four Columns, Broughton Hall Business Park, Skipton, North Yorkshire, BD23 3AE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for the services rendered, net of discounts and Value Added Tax.Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied; the amount of revenue can be measured reliably; it is probable that the economic benefits associated with the transaction will flow to the entity; the stage of completion of the transaction at the end of the reporting period can be measured reliably and the costs incurred and costs to complete the transaction can be measured reliably.
Taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 33 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in a settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 7 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 August 2023 and 31 July 2024 16,965 16,965
_______ _______
Depreciation
At 1 August 2023 10,486 10,486
Charge for the year 4,632 4,632
_______ _______
At 31 July 2024 15,118 15,118
_______ _______
Carrying amount
At 31 July 2024 1,847 1,847
_______ _______
At 31 July 2023 6,479 6,479
_______ _______
6. Debtors
2024 2023
£ £
Trade debtors 138,873 91,438
Other debtors 8,972 3,621
_______ _______
147,845 95,059
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 8,298 8,298
Corporation tax 87,650 25,364
Social security and other taxes 57,486 50,042
Other creditors 10,412 5,482
_______ _______
163,846 89,186
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 22,990 30,357
_______ _______