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PENINSULAR DEVELOPMENTS NORTH WEST
LIMITED

Unaudited Financial Statements

for the Year Ended 28th February 2024






PENINSULAR DEVELOPMENTS NORTH WEST
LIMITED (REGISTERED NUMBER: 06811572)






Contents of the Financial Statements
for the year ended 28th February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PENINSULAR DEVELOPMENTS NORTH WEST
LIMITED

Company Information
for the year ended 28th February 2024







DIRECTOR: T Y Price





REGISTERED OFFICE: 1 Abbots Quay
Monks Ferry
Birkenhead
Merseyside
CH41 5LH





REGISTERED NUMBER: 06811572 (England and Wales)





ACCOUNTANTS: Haines Watts Wirral Limited
1 Abbots Quay
Monks Ferry
Birkenhead
Merseyside
CH41 5LH

PENINSULAR DEVELOPMENTS NORTH WEST
LIMITED (REGISTERED NUMBER: 06811572)

Balance Sheet
28th February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,281 29,708

CURRENT ASSETS
Stocks 15,000 5,000
Debtors 5 20,675 33,329
Cash at bank 3,646 16,738
39,321 55,067
CREDITORS
Amounts falling due within one year 6 18,161 38,325
NET CURRENT ASSETS 21,160 16,742
TOTAL ASSETS LESS CURRENT LIABILITIES 43,441 46,450

CREDITORS
Amounts falling due after more than one
year

7

(37,217

)

(45,022

)

PROVISIONS FOR LIABILITIES (4,233 ) (591 )
NET ASSETS 1,991 837

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 991 (163 )
SHAREHOLDERS' FUNDS 1,991 837

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PENINSULAR DEVELOPMENTS NORTH WEST
LIMITED (REGISTERED NUMBER: 06811572)

Balance Sheet - continued
28th February 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21st November 2024 and were signed by:





T Y Price - Director


PENINSULAR DEVELOPMENTS NORTH WEST
LIMITED (REGISTERED NUMBER: 06811572)

Notes to the Financial Statements
for the year ended 28th February 2024

1. STATUTORY INFORMATION

Peninsular Developments North West Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

PENINSULAR DEVELOPMENTS NORTH WEST
LIMITED (REGISTERED NUMBER: 06811572)

Notes to the Financial Statements - continued
for the year ended 28th February 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors
Short term debtors are measured at transition price, less any impairment. Loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors
Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to/from related parties.

3. EMPLOYEES AND DIRECTORS

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

PENINSULAR DEVELOPMENTS NORTH WEST
LIMITED (REGISTERED NUMBER: 06811572)

Notes to the Financial Statements - continued
for the year ended 28th February 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st March 2023
and 28th February 2024 2,403 38,000 8,247 48,650
DEPRECIATION
At 1st March 2023 2,123 9,500 7,319 18,942
Charge for year 70 7,125 232 7,427
At 28th February 2024 2,193 16,625 7,551 26,369
NET BOOK VALUE
At 28th February 2024 210 21,375 696 22,281
At 28th February 2023 280 28,500 928 29,708

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 20,540 -
Other debtors 135 33,329
20,675 33,329

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 4,900 6,420
Trade creditors 5,495 14,015
Taxation and social security 4,813 14,228
Other creditors 2,953 3,662
18,161 38,325

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 10,242 14,667
Hire purchase contracts 26,975 30,355
37,217 45,022

8. RELATED PARTY DISCLOSURES

Included in other creditors is an amount of £308 (2023: NIL) owed to Mr T Y Price.

Included in other debtors is an amount of NIL (2023: £33,193) owed from Mr T Y Price.