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Registration number: SC585339

R & S Peck Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

R & S Peck Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

Accountants' Report

8

 

R & S Peck Ltd

Company Information

Directors

Mr Robin Graham Peck

Mrs Sarah Carol Peck

Registered office

Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
Stirlingshire
FK3 8WX

Accountants

EQ Accountants Ltd Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

 

R & S Peck Ltd

(Registration number: SC585339)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

29,876

16,078

Current assets

 

Debtors

5

46,014

26,519

Cash at bank and in hand

 

33,618

39,448

 

79,632

65,967

Creditors: Amounts falling due within one year

6

(39,851)

(33,376)

Net current assets

 

39,781

32,591

Total assets less current liabilities

 

69,657

48,669

Provisions for liabilities

(6,573)

(3,055)

Net assets

 

63,084

45,614

Capital and reserves

 

Called up share capital

100

100

Retained earnings

62,984

45,514

Shareholders' funds

 

63,084

45,614

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 April 2025 and signed on its behalf by:
 

.........................................
Mr Robin Graham Peck
Director

 

R & S Peck Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

R & S Peck Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

Straight line at 33%

Fixtures and Fittings

Reducing balance at 25%

Motor Vehicles

Reducing balance at 25%

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

R & S Peck Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

3

Employees and Directors

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2024

1,083

9,878

23,957

34,918

Additions

-

997

37,590

38,587

Disposals

-

-

(23,957)

(23,957)

At 31 January 2025

1,083

10,875

37,590

49,548

Depreciation

At 1 February 2024

890

7,469

10,481

18,840

Charge for the year

48

1,867

9,398

11,313

Eliminated on disposal

-

-

(10,481)

(10,481)

At 31 January 2025

938

9,336

9,398

19,672

Carrying amount

At 31 January 2025

145

1,539

28,192

29,876

At 31 January 2024

193

2,409

13,476

16,078

 

R & S Peck Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

5

Debtors

Current

Note

2025
£

2024
£

Amounts owed by related parties

8

45,142

25,700

Prepayments

 

872

819

   

46,014

26,519

6

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Taxation and social security

39,805

31,728

Other creditors

46

1,648

39,851

33,376

7

Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
 

2025
 £

2024
 £

Within one year

6,297

6,306

Between one and five years

11,545

-

17,842

6,306

 

R & S Peck Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

8

Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

2025
 £

2024
 £

Mr Robin Graham Peck

23

824

Mrs Sarah Carol Peck

23

824

 

46

1,648

The maximum balance outstanding during the year amounted to £1,648.

The directors current accounts are repayable on demand.


Loans to related parties

Included within other debtors is a balance of £42,442 (2024: £25,700) owed by Damview Campers Ltd . Mr Robin Graham Peck and Mrs Sarah Carol Peck are directors of this company.

Also, included within other debtors is a balance of £2,700 (2024: £Nil) owed by S&R Peck and Daughters Ltd . Mr Robin Graham Peck and Mrs Sarah Carol Peck are also directors of this company.

The above loans are repayable on demand.

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
R & S Peck Ltd
for the Year Ended 31 January 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of R & S Peck Ltd for the year ended 31 January 2025 as set out on pages 2 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of R & S Peck Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of R & S Peck Ltd and state those matters that we have agreed to state to the Board of Directors of R & S Peck Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R & S Peck Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that R & S Peck Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of R & S Peck Ltd. You consider that R & S Peck Ltd 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 accounts of R & S Peck 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 accounts.

......................................

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

17 April 2025