Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 03166241 Mr P D Rance Mrs M C Rance Mrs M C Rance iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03166241 2023-03-31 03166241 2024-03-31 03166241 2023-04-01 2024-03-31 03166241 frs-core:CurrentFinancialInstruments 2024-03-31 03166241 frs-core:Non-currentFinancialInstruments 2024-03-31 03166241 frs-core:ComputerEquipment 2024-03-31 03166241 frs-core:ComputerEquipment 2023-04-01 2024-03-31 03166241 frs-core:ComputerEquipment 2023-03-31 03166241 frs-core:FurnitureFittings 2024-03-31 03166241 frs-core:FurnitureFittings 2023-04-01 2024-03-31 03166241 frs-core:FurnitureFittings 2023-03-31 03166241 frs-core:ShareCapital 2024-03-31 03166241 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 03166241 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03166241 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 03166241 frs-bus:SmallEntities 2023-04-01 2024-03-31 03166241 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03166241 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03166241 frs-bus:Director1 2023-04-01 2024-03-31 03166241 frs-bus:Director2 2023-04-01 2024-03-31 03166241 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 03166241 frs-countries:EnglandWales 2023-04-01 2024-03-31 03166241 2022-03-31 03166241 2023-03-31 03166241 2022-04-01 2023-03-31 03166241 frs-core:CurrentFinancialInstruments 2023-03-31 03166241 frs-core:Non-currentFinancialInstruments 2023-03-31 03166241 frs-core:ShareCapital 2023-03-31 03166241 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 03166241
Peninsula Property Investments Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03166241
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 26,352 7,121
Investment Properties 5 6,185,000 4,800,000
6,211,352 4,807,121
CURRENT ASSETS
Cash at bank and in hand 6,874 305,463
6,874 305,463
Creditors: Amounts Falling Due Within One Year 6 (169,197 ) (77,961 )
NET CURRENT ASSETS (LIABILITIES) (162,323 ) 227,502
TOTAL ASSETS LESS CURRENT LIABILITIES 6,049,029 5,034,623
Creditors: Amounts Falling Due After More Than One Year 7 (3,677,462 ) (3,510,702 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (770,745 ) (424,990 )
NET ASSETS 1,600,822 1,098,931
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 1,600,820 1,098,929
SHAREHOLDERS' FUNDS 1,600,822 1,098,931
Page 1
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr P D Rance
Director
22nd November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Peninsula Property Investments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03166241 . The registered office is 25 Inglethorpe Street, London, SW6 6NS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 33% reducing balance
Computer Equipment 33% on cost
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.
...CONTINUED
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2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost or Valuation
As at 1 April 2023 26,574 3,558 30,132
Additions 32,679 - 32,679
As at 31 March 2024 59,253 3,558 62,811
Depreciation
As at 1 April 2023 19,943 3,068 23,011
Provided during the period 12,972 476 13,448
As at 31 March 2024 32,915 3,544 36,459
Net Book Value
As at 31 March 2024 26,338 14 26,352
As at 1 April 2023 6,631 490 7,121
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 4,800,000
Additions 661,650
Revaluations 723,350
As at 31 March 2024 6,185,000
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - (1 )
Bank loans and overdrafts 58,204 7,454
Other creditors 27,681 24,426
Taxation and social security 83,312 46,082
169,197 77,961
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 8,235 15,199
Mortgage Loan 1,712,162 1,722,681
Other creditors 1,957,065 1,772,822
3,677,462 3,510,702
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
9. Related Party Transactions
The company is a wholly owned subsidiary of Peninsula Holdings Limited.The company was controlled throughout the current and previous period by the directors Mr P Rance and Mrs M Rance by virtue of the fact that they owned 100% of the issued share capital of Peninsula Holdings Limited.
There was a loan outstanding at the year end of £1,438,810 (2023 £562,894) to the director Mr P Rance.
There was a loan outstanding at the year end of £90,000 (2023 £0) to the dirctor Mrs M Rance.
There was a loan outstanding at the year end of £421,530 (2023 £421,530) to Peninsula Contruction Limited which is a company under common control.
There was a loan outstanding at the year end of £5,725 (2023 £5725) to the holding company, Peninsula Holdings Limited.
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