Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity32falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC609575 2023-04-01 2024-03-31 SC609575 2022-04-01 2023-03-31 SC609575 2024-03-31 SC609575 2023-03-31 SC609575 c:Director1 2023-04-01 2024-03-31 SC609575 c:Director2 2023-04-01 2024-03-31 SC609575 c:RegisteredOffice 2023-04-01 2024-03-31 SC609575 d:Buildings 2023-04-01 2024-03-31 SC609575 d:Buildings 2024-03-31 SC609575 d:Buildings 2023-03-31 SC609575 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC609575 d:PlantMachinery 2023-04-01 2024-03-31 SC609575 d:PlantMachinery 2024-03-31 SC609575 d:PlantMachinery 2023-03-31 SC609575 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC609575 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC609575 d:CurrentFinancialInstruments 2024-03-31 SC609575 d:CurrentFinancialInstruments 2023-03-31 SC609575 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC609575 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC609575 d:ShareCapital 2024-03-31 SC609575 d:ShareCapital 2023-03-31 SC609575 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC609575 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC609575 c:OrdinaryShareClass1 2023-04-01 2024-03-31 SC609575 c:OrdinaryShareClass1 2024-03-31 SC609575 c:OrdinaryShareClass1 2023-03-31 SC609575 c:FRS102 2023-04-01 2024-03-31 SC609575 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC609575 c:FullAccounts 2023-04-01 2024-03-31 SC609575 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC609575 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC609575










PEACEFIT LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
PEACEFIT LIMITED
 

COMPANY INFORMATION


Directors
Mrs E Forster 
Mr R Forster 




Registered number
SC609575



Registered office
Peacehill Farm
Wormit

Newport-On-Tay

Fife

DD6 8PJ




Accountants
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
PEACEFIT LIMITED
REGISTERED NUMBER: SC609575

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
30,492
29,051

  
30,492
29,051

Current assets
  

Stocks
  
1,500
1,500

Debtors: amounts falling due within one year
 5 
335
357

Cash at bank and in hand
  
6,907
17,677

  
8,742
19,534

Creditors: amounts falling due within one year
 6 
(15,672)
(34,683)

Net current liabilities
  
 
 
(6,930)
 
 
(15,149)

Total assets less current liabilities
  
23,562
13,902

Provisions for liabilities
  

Deferred tax
  
(3,236)
(612)

  
 
 
(3,236)
 
 
(612)

Net assets
  
20,326
13,290


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
20,226
13,190

  
20,326
13,290


Page 1

 
PEACEFIT LIMITED
REGISTERED NUMBER: SC609575

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 June 2024.




Mrs E Forster
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
PEACEFIT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

PeaceFit Limited is a private company, limited by shares, incorporated in Scotland with the registration number SC609575. The address of the registered office is Peacehill Farm, Wormit, Newport-on-Tay, DD6 8PJ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

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

Page 3

 
PEACEFIT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Tenant's improvements
-
4% straight line
Equipment
-
12.5% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
PEACEFIT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 2).

Page 5

 
PEACEFIT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Tenant's improvements
Equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
8,768
32,335
41,103


Additions
-
5,173
5,173



At 31 March 2024

8,768
37,508
46,276



Depreciation


At 1 April 2023
1,579
10,473
12,052


Charge for the year on owned assets
351
3,381
3,732



At 31 March 2024

1,930
13,854
15,784



Net book value



At 31 March 2024
6,838
23,654
30,492


5.


Debtors

2024
2023
£
£


Other debtors
335
357

335
357



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to other participating interests
13,811
33,483

Other creditors
661
-

Accruals and deferred income
1,200
1,200

15,672
34,683


Page 6

 
PEACEFIT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



Page 7