Peaks Storehouse Limited - Filleted accounts

Registered number

03294483

Peaks Storehouse Limited

Filleted Accounts

31 March 2025

Peaks Storehouse Limited
Registered number:		03294483
Balance Sheet
as at 31 March 2025

Notes		2025	2025		2024	2024
£			£	£		£
Fixed assets
Tangible assets	4		798,589			839,175

Current assets
Stocks		2,569			2,569
Debtors	5	154,067			150,948
Cash at bank and in hand		5,485			4,358
		162,121			157,875

Creditors: amounts falling due within one year	6	(309,842)			(334,361)

Net current liabilities			(147,721)			(176,486)

Total assets less current liabilities			650,868			662,689

Creditors: amounts falling due after more than one year	7		(49,008)			(44,477)

Provisions for liabilities			(18,374)			(23,731)


Net assets			583,486			594,481

Capital and reserves
Called up share capital	8		6,000			6,000
Profit and loss account			577,486			588,481

Shareholders' funds			583,486			594,481

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime and in accordance with FRS102 Section 1A - small companies. The Company has opted not to file the profit and loss account in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:



T I Peak
Director
Approved by the board on 14 December 2025




The notes on pages 4 to 8 form part of these financial statements.

Peaks Storehouse Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Going Concern
	The directors continue to adopt the going concern basis of accounting in preparing these financial statements.
	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Government Grants
	Grants are accounted under the accriuals model as permited by FRS102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
	Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible Fixed Assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			2% per annum straight line
	Plant and machinery and Fixtures			10-25% per annum reducing balance
	Motor Vehicles			25% per annum reducing balance


	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign Currency Translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Other Operating Income					2025		2024
£							£

	Government grants receivable					24		33

						24		33

	Government grants represent amounts receivable:
	- Under grants receivable for capital equipment of £44 (2022: £58)

3	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					7		7


4	Tangible fixed assets
		Land and buildings		Plant and machinery and Fixtures		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2024	1,027,759		437,247		58,588		1,523,594
	Additions	-		2,966		-		2,966
	At 31 March 2025	1,027,759		440,213		58,588		1,526,560

	Depreciation
	At 1 April 2024	315,908		334,362		34,149		684,419
	Charge for the year	13,185		21,739		8,628		43,552
	At 31 March 2025	329,093		356,101		42,777		727,971

	Net book value
	At 31 March 2025	698,666		84,112		15,811		798,589
	At 31 March 2024	711,851		102,885		24,439		839,175


5	Debtors					2025		2024
£							£

	Trade debtors					68,529		58,456
	Other debtors					85,538		92,492
						154,067		150,948


6	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					47,250		85,219
	Obligations under finance lease and hire purchase contracts					15,833		20,055
	Trade creditors					80,857		84,776
	Taxation and social security costs					53,842		35,019
	Other creditors					112,060		109,292
						309,842		334,361


7	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					5,000		22,074
	Obligations under finance lease and hire purchase contracts					4,008		22,403
	Other creditors					40,000		-
						49,008		44,477


8	Share Capital					2025		2024
£							£

	6,000 ordinary shares of £1					6,000		6,000

	At 31 March 2025					6,000		6,000


9	Pension commitments

	The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund amounted to £10,069 (2024 - £10,482). Contributions payable to the fund at the year end totalled £nil (2023 - £nil).


10	Controlling party

	There is no ultimate controlling party.


11	Other information

	Peaks Storehouse Limited is a private company limited by shares and incorporated in England. Its registered office is 135 Ditton Walk, Cambridge, CB5 8PY.