2 Peak XV Property Limited 13962077 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is Holding Company Digita Accounts Production Advanced 6.30.9574.0 true 13962077 2023-09-01 2024-08-31 13962077 2024-08-31 13962077 bus:OrdinaryShareClass1 2024-08-31 13962077 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 13962077 core:FurnitureFittingsToolsEquipment 2024-08-31 13962077 bus:SmallEntities 2023-09-01 2024-08-31 13962077 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 13962077 bus:FilletedAccounts 2023-09-01 2024-08-31 13962077 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 13962077 bus:RegisteredOffice 2023-09-01 2024-08-31 13962077 bus:Director1 2023-09-01 2024-08-31 13962077 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 13962077 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 13962077 core:FurnitureFittings 2023-09-01 2024-08-31 13962077 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 13962077 core:OtherRelatedParties 2023-09-01 2024-08-31 13962077 countries:AllCountries 2023-09-01 2024-08-31 13962077 2023-08-31 13962077 2022-03-08 2023-08-31 13962077 2023-08-31 13962077 bus:OrdinaryShareClass1 2023-08-31 13962077 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 13962077

Peak XV Property Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Peak XV Property Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Peak XV Property Limited

(Registration number: 13962077)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

283

-

Investment property

5

312,042

141,088

Other financial assets

1

1

 

312,326

141,089

Current assets

 

Cash at bank and in hand

 

11,724

4,677

Creditors: Amounts falling due within one year

6

(322,908)

(145,073)

Net current liabilities

 

(311,184)

(140,396)

Net assets

 

1,142

693

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

1,141

692

Shareholders' funds

 

1,142

693

For the financial year ending 31 August 2024 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 23 May 2025 and signed on its behalf by:
 

.........................................
T J H Cliff
Director

 

Peak XV Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
26 Fenwick Grove
Morpeth
Northumberland
NE61 1JW

These financial statements were authorised for issue by the Board on 23 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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 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.

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.

 

Peak XV Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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

Fixtures and fittings

20% Straight Line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Peak XV Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

346

346

At 31 August 2024

346

346

Depreciation

Charge for the year

63

63

At 31 August 2024

63

63

Carrying amount

At 31 August 2024

283

283

5

Investment properties

2024
£

At 1 September

141,088

Additions

170,954

At 31 August

312,042



The director has determined the fair value of the investment properties at balance sheet date. The historical cost of the property is £312,042.

There has been no valuation of investment property by an independent valuer.

 

Peak XV Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

1,306

265

Accruals and deferred income

1,200

1,200

Other creditors

320,402

143,608

322,908

145,073

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

ordinary of £0.01 each

100

1

100

1

       

8

Related party transactions

Summary of transactions with other related parties

During the period, the company has control of a 100% subsidiary, Peak XV Advisory Services Limited.


At the year end, amounts due to Peak XV Advisory Services Limited from the company were £318,606 (2023 - £143,425).