Silverfin false false 31/05/2024 01/06/2023 31/05/2024 A E Farthing 30/08/2023 D S Jackson 30/08/2023 13 February 2025 The principal activity of the company during the year was building and renovating property. 15105674 2024-05-31 15105674 bus:Director1 2024-05-31 15105674 bus:Director2 2024-05-31 15105674 core:CurrentFinancialInstruments 2024-05-31 15105674 core:ShareCapital 2024-05-31 15105674 core:RetainedEarningsAccumulatedLosses 2024-05-31 15105674 core:Vehicles 2023-05-31 15105674 2023-05-31 15105674 core:Vehicles 2024-05-31 15105674 bus:OrdinaryShareClass1 2024-05-31 15105674 2023-06-01 2024-05-31 15105674 bus:FilletedAccounts 2023-06-01 2024-05-31 15105674 bus:SmallEntities 2023-06-01 2024-05-31 15105674 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 15105674 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 15105674 bus:Director1 2023-06-01 2024-05-31 15105674 bus:Director2 2023-06-01 2024-05-31 15105674 core:Vehicles 2023-06-01 2024-05-31 15105674 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 15105674 (England and Wales)

PENINSULA PRESTIGE LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

PENINSULA PRESTIGE LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

PENINSULA PRESTIGE LIMITED

BALANCE SHEET

As at 31 May 2024
PENINSULA PRESTIGE LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024
£
Fixed assets
Tangible assets 3 3,315
3,315
Current assets
Stocks 4 1,338,287
Debtors 5 27,997
Cash at bank and in hand 6,193
1,372,477
Creditors: amounts falling due within one year 6 ( 1,427,851)
Net current liabilities (55,374)
Total assets less current liabilities (52,059)
Provision for liabilities 7 ( 829)
Net liabilities ( 52,888)
Capital and reserves
Called-up share capital 8 100
Profit and loss account ( 52,988 )
Total shareholders' deficit ( 52,888)

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Peninsula Prestige Limited (registered number: 15105674) were approved and authorised for issue by the Board of Directors on 13 February 2025. They were signed on its behalf by:

D S Jackson
Director
PENINSULA PRESTIGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
PENINSULA PRESTIGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year, unless otherwise stated.

General information and basis of accounting

Peninsula Prestige Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The accounts have been prepared for a 9 month period ending 31 May 2024.

Taxation


Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024
Number
Monthly average number of persons employed by the Company during the year, including directors 2

3. Tangible assets

Vehicles Total
£ £
Cost
At 01 June 2023 0 0
Additions 3,700 3,700
At 31 May 2024 3,700 3,700
Accumulated depreciation
At 01 June 2023 0 0
Charge for the financial year 385 385
At 31 May 2024 385 385
Net book value
At 31 May 2024 3,315 3,315

4. Stocks

2024
£
Work in progress 1,338,287

5. Debtors

2024
£
Other debtors 27,997

6. Creditors: amounts falling due within one year

2024
£
Other taxation and social security 17,933
Other creditors 1,409,918
1,427,851

7. Provision for liabilities

2024
£
Deferred tax 829

8. Called-up share capital

2024
£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100