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Registration number: 13201515

Peppermint Grove Property Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Peppermint Grove Property Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Peppermint Grove Property Limited

Company Information

Directors

Ms Annabelle Bosday Hall

Mr Jonathan Jaques

Registered office

1 Anchor Cottage
Colhugh Street
Llantwit
Wales
CF61 1RE

Accountants

RiverView Portfolio Limited 1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Peppermint Grove Property Limited

(Registration number: 13201515)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1,971

2,423

Investment property

6

710,000

700,000

 

711,971

702,423

Current assets

 

Debtors

7

6,965

3,743

Cash at bank and in hand

 

1,290

36,551

 

8,255

40,294

Creditors: Amounts falling due within one year

8

(7,923)

(429,597)

Net current assets/(liabilities)

 

332

(389,303)

Total assets less current liabilities

 

712,303

313,120

Creditors: Amounts falling due after more than one year

8

(886,936)

(392,164)

Provisions for liabilities

(19,706)

(17,806)

Net liabilities

 

(194,339)

(96,850)

Capital and reserves

 

Called up share capital

20

20

Revaluation reserve

84,009

75,909

Retained earnings

(278,368)

(172,779)

Shareholders' deficit

 

(194,339)

(96,850)

For the financial year ending 29 February 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 20 May 2025 and signed on its behalf by:
 

 

Peppermint Grove Property Limited

(Registration number: 13201515)
Balance Sheet as at 29 February 2024 (continued)

.........................................
Ms Annabelle Bosday Hall
Director

 

Peppermint Grove Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

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

The address of its registered office is:
1 Anchor Cottage
Colhugh Street
Llantwit
Wales
CF61 1RE

These financial statements were authorised for issue by the Board on 20 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.

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:

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.

 

Peppermint Grove Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

2

Accounting policies (continued)

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 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.

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 0 (2023 - 0).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

1,216

1,003

 

Peppermint Grove Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

4,428

4,428

Additions

764

764

At 29 February 2024

5,192

5,192

Depreciation

At 1 March 2023

2,005

2,005

Charge for the year

1,216

1,216

At 29 February 2024

3,221

3,221

Carrying amount

At 29 February 2024

1,971

1,971

At 28 February 2023

2,423

2,423

6

Investment properties

2024
£

At 1 March

700,000

Fair value adjustments

10,000

At 29 February

710,000

The fair value of the properties at the year end have been arrived at on the basis of a valuation carried out at that
date by the director of the company, who is not a professionally qualified valuer. The valuation was arrived at
by reference to the market evidence of transaction prices for similar properties in the location the properties are
situated.

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

7

Debtors

2024
£

2023
£

Prepayments

1,444

753

Other debtors

5,521

2,990

6,965

3,743

 

Peppermint Grove Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

6,706

1,030

Accruals and deferred income

1,215

1,620

Other creditors

2

426,947

7,923

429,597

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

874,286

392,164

Other non-current financial liabilities

 

12,650

-

 

886,936

392,164

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

8,100

8,100

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

75,909

75,909

 

Peppermint Grove Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

529,869

392,164

Other borrowings

344,417

-

874,286

392,164