Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falsefalsefalse2023-04-0168209 - Other letting and operating of own or leased real estate11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04964760 2023-04-01 2024-03-31 04964760 2022-04-01 2023-03-31 04964760 2024-03-31 04964760 2023-03-31 04964760 c:Director1 2023-04-01 2024-03-31 04964760 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 04964760 d:FreeholdInvestmentProperty 2024-03-31 04964760 d:FreeholdInvestmentProperty 2023-03-31 04964760 d:CurrentFinancialInstruments 2024-03-31 04964760 d:CurrentFinancialInstruments 2023-03-31 04964760 d:Non-currentFinancialInstruments 2024-03-31 04964760 d:Non-currentFinancialInstruments 2023-03-31 04964760 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 04964760 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04964760 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 04964760 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 04964760 d:ShareCapital 2024-03-31 04964760 d:ShareCapital 2023-03-31 04964760 d:RetainedEarningsAccumulatedLosses 2024-03-31 04964760 d:RetainedEarningsAccumulatedLosses 2023-03-31 04964760 c:FRS102 2023-04-01 2024-03-31 04964760 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04964760 c:FullAccounts 2023-04-01 2024-03-31 04964760 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04964760 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 04964760









PECKVALE LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
PECKVALE LTD
 
 
  
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PECKVALE LTD
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Peckvale Ltd for the year ended 31 March 2024  as set out on pages 2 to 9 from the Company's accounting records and from information and explanations you have given us. 

As a practising member firm of the Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the director of Peckvale Ltd in accordance with the terms of our engagement letter dated 12 February 2025Our work has been undertaken solely to prepare for your approval the financial statements of Peckvale Ltd and state those matters that we have agreed to state to the director of Peckvale Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Peckvale Ltd and its director for our work or for this report. 

It is your duty to ensure that Peckvale Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Peckvale Ltd. You consider that Peckvale Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Peckvale Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Fraser Russell Limited
 
77 Francis Road
Edgbaston
Birmingham
B16 8SP

12 February 2025
Page 1

 
PECKVALE LTD
REGISTERED NUMBER: 04964760

BALANCE SHEET
AS AT 31 MARCH 2024

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
2,473,914
1,985,802

  
2,473,914
1,985,802

Current assets
  

Debtors: amounts falling due within one year
 5 
68,890
208,363

Cash at bank and in hand
 6 
213,975
263,570

  
282,865
471,933

Creditors: amounts falling due within one year
 7 
(878,432)
(590,407)

Net current liabilities
  
 
 
(595,567)
 
 
(118,474)

Total assets less current liabilities
  
1,878,347
1,867,328

Creditors: amounts falling due after more than one year
 8 
(1,254,592)
(1,279,250)

  

Net assets
  
623,755
588,078


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
623,655
587,978

  
623,755
588,078


Page 2

 
PECKVALE LTD
REGISTERED NUMBER: 04964760
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 profit and loss account 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 12 February 2025.




Shaban Suleman
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
PECKVALE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Peckvale  Ltd is a company limited by shares incorporated in England within the United Kingdom, having a registration of 04964760. The address of the registered office is 77 Francis Road, Edgbaston, Birmingham B16 8SP . The principal activity of the company in the year under review was that of Other letting and operating of own or leased real estate. 
The financial statements are presented in sterling which is functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements has been prepared on a going concern basis which assumes that the company will continue to receive support from creditors and the director as and when required.

Page 4

 
PECKVALE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

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

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

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 balance sheet date in the countries where the Company operates and generates income.

Page 5

 
PECKVALE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

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.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 6

 
PECKVALE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,985,802


Additions at cost
488,112



At 31 March 2024
2,473,914

The 2024 valuations were made by the Director, on an open market value for existing use basis.



At 31 March 2024



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
2,473,914
1,985,802

2,473,914
1,985,802


5.


Debtors

2023
2022
£
£


Trade debtors
36,742
132,616

Other debtors
32,148
75,747

68,890
208,363



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
213,975
263,570

213,975
263,570


Page 7

 
PECKVALE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
59,845
59,845

Corporation tax
8,368
41,859

Other creditors
299,019
287,503

Accruals and deferred income
511,200
201,200

878,432
590,407



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
1,052,786
1,077,444

Other loans
201,806
201,806

1,254,592
1,279,250


The following liabilities were secured:




Details of security provided:

All the loans and bank overdraft are secured via fixed and floating charge over the assets of the company.


9.


Related party transactions

Shaban Suleman is the director and shareholder of the Peckvale Limited.  
During the period, the director provided loans of £11,516.  As at the balance sheet date, the company owed the director £97,187 (2023: £85,671) which is shown in creditors due within one year. 
The above balances are payable on demand and therefore there are no significant differences between the value of the original loan amount and the initial carrying value of the loan as shown in the balance sheet.
Shaban Suleman also trades as Shaban Properties. 
During the period, the company transacted with Shaban Properties for a net amount of £nil. As at the balance sheet date, the company owed Shaban Properties £53,445 (2023: £53,445) which was included in other creditors due within one year. 
The above balances are payable on demand and therefore there are no significant differences between the value of the original loan amounts and the initial carrying value of the loans as shown in the balance sheet.
 
Page 8

 
PECKVALE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.Related party transactions (continued)


10.


Controlling party

The company is under the control of Shaban Suleman who is the sole director and shareholder of the company. 

 
Page 9