Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-302024-03-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsefalse02023-03-31falseNo description of principal activity0true 03354153 2023-03-31 2024-03-30 03354153 2022-03-31 2023-03-30 03354153 2024-03-30 03354153 2023-03-30 03354153 1 2023-03-31 2024-03-30 03354153 d:Director1 2023-03-31 2024-03-30 03354153 c:CurrentFinancialInstruments 2024-03-30 03354153 c:CurrentFinancialInstruments 2023-03-30 03354153 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-30 03354153 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-30 03354153 c:ShareCapital 2024-03-30 03354153 c:ShareCapital 2023-03-30 03354153 c:RetainedEarningsAccumulatedLosses 2024-03-30 03354153 c:RetainedEarningsAccumulatedLosses 2023-03-30 03354153 d:FRS102 2023-03-31 2024-03-30 03354153 d:AuditExempt-NoAccountantsReport 2023-03-31 2024-03-30 03354153 d:FullAccounts 2023-03-31 2024-03-30 03354153 d:PrivateLimitedCompanyLtd 2023-03-31 2024-03-30 03354153 2 2023-03-31 2024-03-30 03354153 6 2023-03-31 2024-03-30 03354153 e:PoundSterling 2023-03-31 2024-03-30 iso4217:GBP xbrli:pure

Registered number: 03354153










PEAKTOP PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 MARCH 2024

 
PEAKTOP PROPERTIES LIMITED
REGISTERED NUMBER: 03354153

STATEMENT OF FINANCIAL POSITION
AS AT 30 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
100
100

  
100
100

Current assets
  

Debtors: amounts falling due within one year
 5 
85,819
85,819

Cash and cash equivalents
 6 
142,604
179,879

  
228,423
265,698

Creditors: amounts falling due within one year
 7 
(1,314,925)
(1,350,586)

Net current liabilities
  
 
 
(1,086,502)
 
 
(1,084,888)

Net liabilities
  
(1,086,402)
(1,084,788)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(1,086,502)
(1,084,888)

Total deficit
  
(1,086,402)
(1,084,788)


The director considers 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 director acknowledges his 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 comprehensive income 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 4 December 2024.




Nicholas Jacobs
Director

Page 1

 
PEAKTOP PROPERTIES LIMITED
REGISTERED NUMBER: 03354153
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 MARCH 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
PEAKTOP PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024

1.


General information

Peaktop Properties Limited is a private company limited by shares incorporated in England and Wales.  The registered office is listed on the Company Information page.

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

Going concern

The financial statements have been prepared on a going concern basis on the assumption that the directors will continue to support the company. At the year end the director has agreed to support the Company. The financial statements do not include any adjustments that would result from failure of the financial support of the directors.

 
2.3

Interest receivable and similar income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Interest payable and similar expenses

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Taxation

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.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each Statement of Financial Position date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 3

 
PEAKTOP PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024

2.Accounting policies (continued)

 
2.7

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

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, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of Comprehensive Income if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.
 
Page 4

 
PEAKTOP PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.
 

3.


Employees

The Company has no employees other than the director, who did not receive any remuneration        (2023: Nil).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 31 March 2023
100



At 30 March 2024
100





5.


Debtors: amounts falling due within one year

2024
2023
£
£


Amounts owed by group undertakings
85,819
85,819

85,819
85,819


Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

Page 5

 
PEAKTOP PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
142,604
179,879

142,604
179,879



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
1,191,162
1,227,163

Accruals and deferred income
123,763
123,423

1,314,925
1,350,586



8.


Related party transactions

At the year ended 30 March 2024, other creditors comprised an amount of £1,191,162 (2023: £1,227,163) due to P.R. Jacobs. At 30 March 2024, accrued interest of £116,948 (2023: £116,948) was payable to P.R. Jacobs on their loan account balance.


9.


Post balance sheet events

There were no events after the reporting year and which require disclosure at the reporting date.
Page 6