| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended |
| 30 September 2024 |
| for |
| M C Peat Finance Company Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended |
| 30 September 2024 |
| for |
| M C Peat Finance Company Limited |
| M C Peat Finance Company Limited (Registered number: 07880406) |
| Contents of the Financial Statements |
| for the Year Ended 30 September 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| M C Peat Finance Company Limited |
| Company Information |
| for the Year Ended 30 September 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| The Old Bakehouse |
| Course Road |
| Ascot |
| Berkshire |
| SL5 7HL |
| M C Peat Finance Company Limited (Registered number: 07880406) |
| Balance Sheet |
| 30 September 2024 |
| 30.9.24 | 30.9.23 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the director and authorised for issue on |
| M C Peat Finance Company Limited (Registered number: 07880406) |
| Notes to the Financial Statements |
| for the Year Ended 30 September 2024 |
| 1. | STATUTORY INFORMATION |
| M C Peat Finance Company Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on a going concern basis, notwithstanding the net liabilities of £483,063, which the director believes to be appropriate for the following reasons. An investment has been made in M C Peat & Co. LLP, which is expected to be profitable in the future and will over time turn the Balance Sheet net deficit position into a positive net asset position. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Other debtors |
| Tax |
| M C Peat Finance Company Limited (Registered number: 07880406) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Other loans |
| Other creditors |
| Other loans consist of £125,000 (2023 - £125,000) due to MC Peat & Co. LLP. |
| The loan from M C Peat & Co. LLP was provided to enable the company to settle other loan obligations. The loan from M C Peat & Co. LLP is interest free and has no set repayment schedule. However, going forward, it is anticipated that this loan will be repaid from the future profits of M C Peat & Co. LLP. |
| 6. | RELATED PARTY DISCLOSURES |
| During the period, M C Peat & Co. LLP was a related party by virtue of the director, C.W Peat, being a designated member of that partnership. |
| As at 30 September 2024, £483,064 (2023 - £486,783) was owed to the partnership; this was recorded within Creditors < 1 year. |