Company registration number 12699049 (England and Wales)
PEAK PREMIUM SKIRTING AND TIMBER LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
PEAK PREMIUM SKIRTING AND TIMBER LIMITED
COMPANY INFORMATION
Directors
A Lee
D Lee
J C Hall
Company number
12699049
Registered office
The Woodyard
Belle Vue Road
Ashbourne
Derbyshire
DE6 1AT
Accountants
Ashgates Corporate Services Limited
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
PEAK PREMIUM SKIRTING AND TIMBER LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 4
PEAK PREMIUM SKIRTING AND TIMBER LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PEAK PREMIUM SKIRTING AND TIMBER LIMITED FOR THE YEAR ENDED 31 OCTOBER 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Peak Premium Skirting and Timber Limited for the year ended 31 October 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Peak Premium Skirting and Timber Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Peak Premium Skirting and Timber Limited and state those matters that we have agreed to state to the board of directors of Peak Premium Skirting and Timber Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Peak Premium Skirting and Timber Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Peak Premium Skirting and Timber Limited 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 Peak Premium Skirting and Timber Limited. You consider that Peak Premium Skirting and Timber Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Peak Premium Skirting and Timber Limited. 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.
Ashgates Corporate Services Limited
Chartered Certified Accountants
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG
25 February 2025
PEAK PREMIUM SKIRTING AND TIMBER LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
31
27
Cash at bank and in hand
16,338
2,634
16,369
2,661
Creditors: amounts falling due within one year
4
(24,388)
(11,421)
Net current liabilities
(8,019)
(8,760)
Capital and reserves
Called up share capital
5
200
200
Profit and loss reserves
(8,219)
(8,960)
Total equity
(8,019)
(8,760)
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 24 February 2025 and are signed on its behalf by:
A Lee
Director
Company registration number 12699049 (England and Wales)
PEAK PREMIUM SKIRTING AND TIMBER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
1
Accounting policies
Company information
Peak Premium Skirting and Timber Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Woodyard, Belle Vue Road, Ashbourne, Derbyshire, DE6 1AT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent on the continued support of other creditors not requiring the withdrawal of their monies owed to them until sufficient funds are available.true
If the company were unable to trade, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise, and to reclassify fixed assets and long-term liabilities as current assets and liabilities.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
PEAK PREMIUM SKIRTING AND TIMBER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
3
3
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
31
27
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
19,946
8,158
Taxation and social security
726
175
Other creditors
3,716
3,088
24,388
11,421
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
Ordinary A shares of £1 each
24
24
24
24
Ordinary B shares of £1 each
24
24
24
24
Ordinary C shares of £1 each
52
52
52
52
200
200
200
200