Registration number:
Peak District Accommodation Limited
for the Year Ended 30 June 2024
Peak District Accommodation Limited
(Registration number: 12031572)
Balance Sheet as at 30 June 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Revaluation reserve |
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Retained earnings |
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( |
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Shareholders' funds |
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For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Director's Report and the Profit and Loss Account has been taken.
Peak District Accommodation Limited
(Registration number: 12031572)
Balance Sheet as at 30 June 2024 (continued)
.........................................
H M Dernie
Director
Peak District Accommodation Limited
Statement of Changes in Equity for the Year Ended 30 June 2024
Share capital |
Revaluation reserve |
Retained earnings |
Total |
|
At 1 July 2023 |
|
|
( |
|
Profit for the year |
- |
- |
|
|
Transfers |
- |
(47,728) |
47,728 |
- |
At 30 June 2024 |
|
|
|
|
Share capital |
Revaluation reserve |
Retained earnings |
Total |
|
At 1 July 2022 |
|
- |
( |
( |
Profit for the year |
- |
- |
|
|
Transfers |
- |
662,154 |
(662,154) |
- |
At 30 June 2023 |
100 |
662,154 |
(81,563) |
580,691 |
Peak District Accommodation Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Accounting policies |
Statutory information
Peak District Accommodation Limited is a private company, limited by shares, domiciled in England and Wales, company number 12031572. The registered office is at 10 Portland Lane, Sheffield, S1 4DG.
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.
Revenue recognition
Turnover represents the income arising from furnished holiday lettings. Revenue is recognised in line with the terms of the rental agreements, net of sales/value added tax and discounts.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Peak District Accommodation Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)
1 |
Accounting policies (continued) |
Tangible assets
Tangible assets are stated in the balance sheet at cost or valuation, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Investment properties |
not depreciated |
Motor vehicles |
25% straight line |
Fixtures and fittings |
25% straight line |
Financial instruments
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Peak District Accommodation Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)
Tangible assets |
Investment properties |
Fixtures and fittings |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 July 2023 |
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At 30 June 2024 |
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Depreciation |
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At 1 July 2023 |
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Charge for the year |
- |
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Revaluation |
( |
- |
- |
( |
At 30 June 2024 |
- |
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Carrying amount |
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At 30 June 2024 |
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At 30 June 2023 |
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Investment properties were revalued on 30 June 2024 by the director who is internal to the company. The basis of this valuation was existing use basis. If the revalued assets were stated at historical cost the amount would be £992,775.
Debtors |
2024 |
2023 |
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Prepayments |
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Other debtors |
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Peak District Accommodation Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)
Creditors |
2024 |
2023 |
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Due within one year |
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Taxation and social security |
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Accruals |
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Other creditors |
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Related party transactions |
During the year the company had an interest free loan with Sunrisestar Limited, a company in which H M Dernie is a director. At the balance sheet date the amount due to Sunrisestar Limited was £1,004,432 (2023: £1,090,396).