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REGISTERED NUMBER: 10621709 (England and Wales)











































Peony And Sage Ltd

Unaudited Financial Statements

for the Year Ended 31st March 2024






Peony And Sage Ltd (Registered number: 10621709)






Contents of the Financial Statements
for the year ended 31st March 2024




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 7


Peony And Sage Ltd

Company Information
for the year ended 31st March 2024







Directors: Mrs K Bell
D A J Bell





Registered office: East House
Bowsden
Berwick-upon-Tweed
Northumberland
TD15 2TW





Registered number: 10621709 (England and Wales)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Peony And Sage Ltd (Registered number: 10621709)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 12,000 16,000
Tangible assets 5 8,400 9,770
20,400 25,770

Current assets
Stocks 4,050 3,850
Debtors 6 164,644 160,171
Cash at bank 338,898 345,525
507,592 509,546
Creditors
Amounts falling due within one year 7 105,497 92,118
Net current assets 402,095 417,428
Total assets less current liabilities 422,495 443,198

Provisions for liabilities 2,016 1,856
Net assets 420,479 441,342

Capital and reserves
Called up share capital 100 100
Retained earnings 420,379 441,242
Shareholders' funds 420,479 441,342

Peony And Sage Ltd (Registered number: 10621709)

Balance Sheet - continued
31st March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

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 18th November 2024 and were signed on its behalf by:





D A J Bell - Director


Peony And Sage Ltd (Registered number: 10621709)

Notes to the Financial Statements
for the year ended 31st March 2024

1. Statutory information

Peony And Sage Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Office equipment - 25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, bank overdrafts and directors' loans.

Directors' loans (being repayable on demand), trade debtors, trade creditors, accruals and bank overdrafts 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.


Peony And Sage Ltd (Registered number: 10621709)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

2. Accounting policies - continued
Taxation
Taxation for the year 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 or deferred taxation assets and liabilities are not discounted.

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 the balance 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 year 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.

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 settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the statement of income and retained earnings in the period in which they are incurred.

Going concern
The directors have considered the company's financial position for a period of 12 months and beyond from the date of signing these financial statements and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

Peony And Sage Ltd (Registered number: 10621709)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

4. Intangible fixed assets
Goodwill
£   
Cost
At 1st April 2023
and 31st March 2024 40,000
Amortisation
At 1st April 2023 24,000
Amortisation for year 4,000
At 31st March 2024 28,000
Net book value
At 31st March 2024 12,000
At 31st March 2023 16,000

5. Tangible fixed assets
Fixtures
Plant and and Office
machinery fittings equipment Totals
£    £    £    £   
Cost
At 1st April 2023 910 16,691 968 18,569
Additions - - 771 771
At 31st March 2024 910 16,691 1,739 19,340
Depreciation
At 1st April 2023 425 8,009 365 8,799
Charge for year 97 1,737 307 2,141
At 31st March 2024 522 9,746 672 10,940
Net book value
At 31st March 2024 388 6,945 1,067 8,400
At 31st March 2023 485 8,682 603 9,770

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 2,782 1,274
Other debtors 161,862 158,897
164,644 160,171

Peony And Sage Ltd (Registered number: 10621709)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 35,146 15,452
Trade creditors 3,115 255
Taxation and social security 65,286 69,041
Other creditors 1,950 7,370
105,497 92,118

8. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the year ended 31st March 2024 and the year ended 31st March 2023:

20242023
££
Director 1
Balance outstanding at start of year79,44863,830
Amounts advanced87,39687,016
Amounts repaid(85,913)(71,398)
Balance outstanding at end of year80,93179,448

Director 2
Balance outstanding at start of year79,44863,830
Amounts advanced87,39687,016
Amounts repaid(85,913)(71,398)
Balance outstanding at end of year80,93179,448


These loans are unsecured and repayable on demand. Interest is charged by the company at the official rate published by HMRC.