Registered number
10798487
Peak Audio Ltd
Filleted Accounts
30 June 2024
Peak Audio Ltd
Registered number: 10798487
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,497 3,889
Current assets
Debtors 4 5,640 6,480
Cash at bank and in hand 26,800 42,690
32,440 49,170
Creditors: amounts falling due within one year 5 (34,507) (33,941)
Net current (liabilities)/assets (2,067) 15,229
Net assets 430 19,118
Capital and reserves
Called up share capital 2 2
Profit and loss account 428 19,116
Shareholders' funds 430 19,118
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.
Paul Halstead
Director
Approved by the board on 25 October 2024
Peak Audio Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment over 5 years
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Equipment
£
Cost
At 1 July 2023 13,658
At 30 June 2024 13,658
Depreciation
At 1 July 2023 9,769
Charge for the year 1,392
At 30 June 2024 11,161
Net book value
At 30 June 2024 2,497
At 30 June 2023 3,889
4 Debtors 2024 2023
£ £
Trade debtors 5,640 6,480
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 7,136 6,750
Directors' loan accounts 26,341 26,248
Other creditors 1,030 943
34,507 33,941
6 Other information
Peak Audio Ltd is a private company limited by shares and incorporated in England. Its registered office is:
69 Loughborough Road
West Bridgford
Nottingham
NG2 7LA
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