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REGISTERED NUMBER: 03716272 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Peak Gas Limited

Peak Gas Limited (Registered number: 03716272)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Peak Gas Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: P V Gwinnett
M A Gwinnett
K T Gwinnett





REGISTERED OFFICE: Mamtor House Shepley Lane
Marple
Stockport
Cheshire
SK6 6LQ





REGISTERED NUMBER: 03716272 (England and Wales)





ACCOUNTANTS: DHP Acountants Ltd
15 Buxton Old Road
Disley
Stockport
SK12 2BB

Peak Gas Limited (Registered number: 03716272)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,081,762 1,108,029
Investment property 5 9,816,278 8,651,998
10,898,040 9,760,027

CURRENT ASSETS
Debtors 6 528,167 566,941
Cash at bank 2,396,144 2,050,739
2,924,311 2,617,680
CREDITORS
Amounts falling due within one year 7 5,645,612 5,365,929
NET CURRENT LIABILITIES (2,721,301 ) (2,748,249 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,176,739

7,011,778

PROVISIONS FOR LIABILITIES 1,697,719 1,413,216
NET ASSETS 6,479,020 5,598,562

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 6,478,920 5,598,462
SHAREHOLDERS' FUNDS 6,479,020 5,598,562

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Peak Gas Limited (Registered number: 03716272)

Balance Sheet - continued
31 May 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:





P V Gwinnett - Director


Peak Gas Limited (Registered number: 03716272)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Peak Gas Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Peak Gas Limited (Registered number: 03716272)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 June 2023 1,000,000 229,547 1,229,547
Additions - 292 292
At 31 May 2024 1,000,000 229,839 1,229,839
DEPRECIATION
At 1 June 2023 - 121,518 121,518
Charge for year - 26,559 26,559
At 31 May 2024 - 148,077 148,077
NET BOOK VALUE
At 31 May 2024 1,000,000 81,762 1,081,762
At 31 May 2023 1,000,000 108,029 1,108,029

Cost or valuation at 31 May 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2003 1,000,000 - 1,000,000
Cost - 229,839 229,839
1,000,000 229,839 1,229,839

If leasehold land and building had not been revalued it would have been included at the following historical cost:

31.5.24 31.5.23
£    £   
Cost 350,000 350,000

Peak Gas Limited (Registered number: 03716272)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 8,651,998
Revaluations 1,164,280
At 31 May 2024 9,816,278
NET BOOK VALUE
At 31 May 2024 9,816,278
At 31 May 2023 8,651,998

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2024 9,816,278

If investment property had not been revalued they would have been included at the following historical cost:

31.5.24 31.5.23
£    £   
Cost 3,757,164 3,757,164

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 90,592 94,131
Other debtors 437,575 472,810
528,167 566,941

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 8,565 28,875
Amounts owed to group undertakings 5,391,172 5,135,957
Taxation and social security 130,727 96,214
Other creditors 115,148 104,883
5,645,612 5,365,929

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end there was a balance of £2,825 owed to the directors (2023: Debtor £20,934).

Peak Gas Limited (Registered number: 03716272)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At the year end the company was owed £434,736 (2023: £434,736) from Peak Holiday Homes Limited, a company that shares common directors with Peak Gas Limited.