Peter Head Limited |
Registered number: |
08541671 |
Balance Sheet |
as at 31 May 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
- |
|
|
2,782 |
|
Current assets |
Debtors |
4 |
|
3,223 |
|
|
4,995 |
Cash at bank and in hand |
|
|
3,200 |
|
|
13,325 |
|
|
|
6,423 |
|
|
18,320 |
|
Creditors: amounts falling due within one year |
5 |
|
(2,454) |
|
|
(1,165) |
|
Net current assets |
|
|
|
3,969 |
|
|
17,155 |
|
Total assets less current liabilities |
|
|
|
3,969 |
|
|
19,937 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(200) |
|
|
(200) |
|
Provisions for liabilities |
|
|
|
- |
|
|
(528) |
|
|
Net assets |
|
|
|
3,769 |
|
|
19,209 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
200 |
|
|
200 |
Profit and loss account |
|
|
|
3,569 |
|
|
19,009 |
|
Shareholders' funds |
|
|
|
3,769 |
|
|
19,209 |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
P Head |
Director |
Approved by the board on 24 February 2025 |
|
Peter Head Limited |
Notes to the Accounts |
for the year ended 31 May 2024 |
|
|
1 |
Summary of significant accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared in accordance with Financial Reporting Standard 102 (FRS 102) and the Companies Act 2006 (as applicable to companies subject to the small company regime). The significant accounting policies applied in the preparation of these statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. As explained in note 8 to the financial statements, the company ceased trading on 31 May 2024 and the financial statements have been prepared on a basis other than that of the going concern basis. This has had the effect of assessing the recoverable amounts or the amounts that can be realised on the disposal, after allowing for any cost of disposal, of current assets, and the realistic value of tangible and intangible fixed assets as well as the amounts payable for liabilities. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes and represents amounts recoverable from clients for consultancy services and associated expenses provided during the year. Turnover is recognised when the amount can be reliably measured and it is probable that future economic benefits will flow. Recognition of turnover is in the period in which the services are rendered by reference to the stage of completion which is assessed on the actual services provided as a proportion of the total value of the services to be provided. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
20 % straight line |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Employee benefits |
|
When employees have rendered service to the company, short term employee benefits to which the employees are entitled are recognised at the amount expected to be paid in exchange for that service. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery |
£ |
|
Cost |
|
At 1 June 2023 |
7,607 |
|
Additions |
548 |
|
Disposals |
(8,155) |
|
At 31 May 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 June 2023 |
4,825 |
|
Charge for the year |
957 |
|
On disposals |
(5,782) |
|
At 31 May 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2024 |
- |
|
At 31 May 2023 |
2,782 |
|
|
4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Trade debtors |
750 |
|
1,500 |
|
Other debtors |
2,473 |
|
3,495 |
|
|
|
|
|
|
3,223 |
|
4,995 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Other creditors |
2,454 |
|
1,165 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
|
Non-equity preference shares |
200 |
|
200 |
|
|
|
|
|
|
|
|
|
|
7 |
Share Capital |
Nominal |
|
2022 |
|
2024 |
|
2023 |
value |
Number |
£ |
£ |
|
|
Allotted, called up and fully paid: |
|
A Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
B Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
200 |
|
200 |
|
Preference shares |
£1 each |
|
200 |
|
200 |
|
200 |
|
|
|
|
|
|
200 |
|
200 |
|
|
|
|
|
|
|
|
|
|
The ordinary A shares hold full rights in the company with respect to voting, dividends and distributions. The ordinary B shares have no voting rights and payments of dividends is determined by the director. |
|
|
|
8 |
Events after the reporting date |
|
|
The director have taken the decision to cease trading on 31 May 2024. The company will be dissolved in due course. |
|
|
9 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
£ |
£ |
£ |
£ |
|
P Head |
|
During the year various amounts were lent to the director. Interest of £27 (2023 - £187) was due on the loan. |
1,518 |
|
1,428 |
|
(2,314) |
|
632 |
|
|
|
1,518 |
|
1,428 |
|
(2,314) |
|
632 |
|
|
|
|
|
|
|
|
|
|
10 |
Related party transactions |
|
|
Use of home as office paid to the director was £312 ( 2023 - £312). The company sold its fixed assets to the director for £500. |
|
|
11 |
Other information |
|
|
Peter Head Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
The History Room at Farnham Pottery |
|
Pottery Lane |
|
Wrecclesham, Farnham |
|
Surrey |
|
GU10 4QJ |