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Registration number: 01128908

Peach (Medway) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Peach (Medway) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Peach (Medway) Limited

Company Information

Directors

Mr A Peach

Mrs J M Peach

Mrs HM Peach

Company secretary

Mrs J M Peach

Registered office

Unit 12
Sherwood House
Walderslade Centre
Walderslade,chatham
Kent
ME5 9UD

 

Peach (Medway) Limited

(Registration number: 01128908)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,862,531

1,864,079

Current assets

 

Debtors

5

83,070

63,707

Cash at bank and in hand

 

176,216

198,914

 

259,286

262,621

Creditors: Amounts falling due within one year

6

(135,508)

(128,870)

Net current assets

 

123,778

133,751

Total assets less current liabilities

 

1,986,309

1,997,830

Provisions for liabilities

(1,345)

(1,316)

Net assets

 

1,984,964

1,996,514

Capital and reserves

 

Called up share capital

1,000

1,000

Revaluation reserve

787,176

787,176

Retained earnings

1,196,788

1,208,338

Shareholders' funds

 

1,984,964

1,996,514

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Peach (Medway) Limited

(Registration number: 01128908)
Balance Sheet as at 30 April 2024

Approved and authorised by the Board on 15 January 2025 and signed on its behalf by:
 

.........................................
Mr A Peach
Director

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Peach (Medway) Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 12
Sherwood House
Walderslade Centre
Walderslade,chatham
Kent
ME5 9UD
United Kingdom

These financial statements were authorised for issue by the Board on 15 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Judgements

The company may be required to make estimates and assumptions concerning the future. These estimates and judgements are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The resulting accounting estimates will, by definition, seldom equal the related actual results. The principal areas where judgement was exercised are as follows:

i) Recoverability of trade debtors: the directors annually assess whether a bad debt provision is required for any bad or doubtful debtor balances.

ii) Tangible fixed assets: the directors annually assess both the residual value of these assets and the expected useful life of such assets based on experience.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Peach (Medway) Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Tax

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

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

15% reducing balance

Fixtures and equipment

10% reducing balance

Motor vehicles

25% reducing balance

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Peach (Medway) Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Peach (Medway) Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Cost or valuation

At 1 May 2023

1,857,152

49,179

67,608

22,807

Additions

-

141

-

-

At 30 April 2024

1,857,152

49,320

67,608

22,807

Depreciation

At 1 May 2023

-

48,808

61,052

22,807

Charge for the year

-

50

1,639

-

At 30 April 2024

-

48,858

62,691

22,807

Carrying amount

At 30 April 2024

1,857,152

462

4,917

-

At 30 April 2023

1,857,152

371

6,556

-

Total
£

Cost or valuation

At 1 May 2023

1,996,746

Additions

141

At 30 April 2024

1,996,887

Depreciation

At 1 May 2023

132,667

Charge for the year

1,689

At 30 April 2024

134,356

Carrying amount

At 30 April 2024

1,862,531

At 30 April 2023

1,864,079

Included within the net book value of land and buildings above is £1,857,152 (2023 - £1,857,152) in respect of freehold land and buildings.
 

 

Peach (Medway) Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

76,027

57,385

Prepayments

534

809

Other debtors

6,509

5,513

 

83,070

63,707

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

26

26

Trade creditors

 

14,164

13,425

Taxation and social security

 

51,066

43,855

Accruals and deferred income

 

30,265

31,577

Other creditors

 

39,987

39,987

 

135,508

128,870