Company registration number 03873449 (England and Wales)
PEACHEYS CA LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
PEACHEYS CA LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
PEACHEYS CA LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
948,837
976,744
Tangible assets
4
687,205
676,599
1,636,042
1,653,343
Current assets
Debtors
5
2,266,403
1,814,668
Cash at bank and in hand
628
885
2,267,031
1,815,553
Creditors: amounts falling due within one year
6
(1,242,376)
(1,098,761)
Net current assets
1,024,655
716,792
Total assets less current liabilities
2,660,697
2,370,135
Creditors: amounts falling due after more than one year
7
(71,787)
(97,062)
Provisions for liabilities
8
(155,929)
(153,100)
Deferred income
(121,194)
(122,835)
Net assets
2,311,787
1,997,138
Capital and reserves
Called up share capital
9
1,659
6,159
Capital redemption reserve
4,500
Profit and loss reserves
2,305,628
1,990,979
Total equity
2,311,787
1,997,138
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 21 November 2024 and are signed on its behalf by:
Mr P Byett
Director
Company Registration No. 03873449
PEACHEYS CA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Peacheys CA Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bradbury House, Mission Court, Newport, Gwent, NP20 2DW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which the directors have estimated to be 50 years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
10% on cost
Fixtures, fittings & equipment
33% on cost and 10% on cost
Motor vehicles
33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
PEACHEYS CA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
63
58
PEACHEYS CA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
1,200,000
Amortisation and impairment
At 1 April 2023
223,256
Amortisation charged for the year
27,907
At 31 March 2024
251,163
Carrying amount
At 31 March 2024
948,837
At 31 March 2023
976,744
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
436,019
338,689
87,436
862,144
Additions
62,676
16,448
36,216
115,340
At 31 March 2024
498,695
355,137
123,652
977,484
Depreciation and impairment
At 1 April 2023
169,062
16,483
185,545
Depreciation charged in the year
49,870
43,342
11,522
104,734
At 31 March 2024
49,870
212,404
28,005
290,279
Carrying amount
At 31 March 2024
448,825
142,733
95,647
687,205
At 31 March 2023
436,019
169,627
70,953
676,599
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,153,493
986,885
Other debtors
1,112,910
827,783
2,266,403
1,814,668
PEACHEYS CA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
102,740
131,549
Trade creditors
163,034
236,754
Corporation tax
393,354
207,395
Other taxation and social security
385,009
411,517
Other creditors
198,239
111,546
1,242,376
1,098,761
Included above are finance liabilities of £20,866 (2023 : £9,434) secured on the company's motor vehicles.
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
40,625
Other creditors
71,787
56,437
71,787
97,062
Included above are finance liabilities of £71,787 (2023 : £56,437) secured on the company's motor vehicles
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
155,929
153,100
9
Called up share capital
2024
2023
£
£
Ordinary share capital
Authorised
1,659 Ordinary of £1 each
1,659
1,659
450,000 Class F of £1 each
450,000
450,000
451,659
451,659
Issued and paid up
450,000 Class F of 1p each
-
4,500
1,659 Ordinary A,B,C,D,E,G,L,M,N.P of £1 each
1,659
1,659
1,659
6,159