Peninsular (Holdings) Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 6

Peninsular (Holdings) Limited

(Registration number: 08662052)
Statement of Financial Position as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	124	166
Current assets
Investments	5	1,000	1,000
Creditors: Amounts falling due within one year	6	(11,981)	(11,239)
Net current liabilities		(10,981)	(10,239)
Net liabilities		(10,857)	(10,073)
Capital and reserves
Called up share capital		10,000	10,000
Profit and loss account		(20,857)	(20,073)
Shareholders' deficit		(10,857)	(10,073)

For the financial year ending 31 December 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 Statement of Comprehensive Income.

Approved and authorised by the Board on 30 September 2025 and signed on its behalf by:
 

Mr A J A Thomas Director

Peninsular (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
Brooke Farm
Long Road
Paignton
Devon
TQ4 7PQ

Principal activity

The principal activity of the company is property development.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Group accounts not prepared

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertaking comprise a small group.

Going concern

At the accounting reference date these financial statements show net liabilities and net current liabilities. In spite of this the company's financial statements have been prepared on a going concern basis as the directors consider that the company will continue to be able to settle its debts as they fall due.

Peninsular (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Fixtures, fittings and equipment	25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Peninsular (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

Peninsular (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

4	Tangible assets

	Fixtures and fittings £	Total £
Cost or valuation
At 1 January 2024	1,249	1,249
At 31 December 2024	1,249	1,249
Depreciation
At 1 January 2024	1,083	1,083
Charge for the year	42	42
At 31 December 2024	1,125	1,125
Carrying amount
At 31 December 2024	124	124
At 31 December 2023	166	166

5	Current asset investments

	2024 £	2023 £
Shares in group undertakings	1,000	1,000

Peninsular (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	8	-	13
Amounts owed to group undertakings and undertakings in which the company has a participating interest	9	191	185
Accruals and deferred income		2,510	2,438
Other creditors		9,280	8,603
		11,981	11,239

7

Reserves

Profit and loss account:
This reserve records retained earnings and accumulated losses.

8	Loans and borrowings

Current loans and borrowings

	2024 £	2023 £
Bank overdrafts	-	13

9	Related party transactions

Transactions with directors

2024	At 1 January 2024 £	Advances to director £	At 31 December 2024 £
Directors	(8,603)	(677)	(9,280)

2023	At 1 January 2023 £	Advances to director £	At 31 December 2023 £
Directors	(8,530)	(73)	(8,603)