1.
General Information
Peacemills Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
09999907
. The registered office is 59 Kewferry Road, Northwood, HA6 2PQ.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold |
|
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
4.
Tangible Assets
| Land & Property | |
|---|---|
| Freehold | |
| £ | |
| Cost | |
| As at 1 January 2024 |
|
| As at 31 December 2024 |
|
| Depreciation | |
| As at 1 January 2024 |
|
| Provided during the period |
|
| As at 31 December 2024 |
|
| Net Book Value | |
| As at 31 December 2024 |
|
| As at 1 January 2024 |
|
Peacemills Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
5.
Debtors
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Amounts owed by participating interests | 1,209,178 | 1,209,178 | |
| Other debtors | - | 2,714 | |
|
|
|
||
6.
Creditors: Amounts Falling Due Within One Year
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
|
|
|
| Amounts owed to participating interests |
|
|
|
| Other creditors | 7,502 | 8,815 | |
|
|
|
||
7.
Creditors: Amounts Falling Due After More Than One Year
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans | - |
|
|
9.
Related Party Transactions
Summary of transactions with other related parties
Included in debtors and creditors are amounts owing to and from related companies under common control.
These loans are interest free and repayable on demand.
Loans to related parties
|
2024
|
2023
|
||
|
£
|
£
|
||
|
At start of year
|
1,209,178
|
1,209,178
|
|
|
Advanced
|
-
|
-
|
|
|
Repaid
|
-
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
-
|
|
|
At end of year
|
1,209,178
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
<line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
1,209,178
|
Loans from related parties
|
2024
|
2023
|
||
|
£
|
£
|
||
|
At start of year
|
672,121
|
495,121
|
|
|
Advanced
|
245,000
|
237,000
|
|
|
Repaid
|
(105,000)
|
(60,000)
|
|
|
At end of year
|
812,121
|
672,121
|