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Registration number: 05897143

Peach Guitars Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 8

Peach Guitars Limited

Company Information

Directors

J A Priest A J Priest

Company secretary

S A Priest

Registered office

3 Crown Gate Wyncolls Road Severalls Industrial Park Colchester Essex CO4 9HZ

Bankers

Barclays Bank plc 1 Bank Street Braintree Essex CM7 7UQ

Accountants

Lambert Chapman LLP Chartered accountants3 Warners Mill Silks Way Braintree Essex CM7 3GB

Peach Guitars Limited

(Registration number: 05897143)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	96,012	120,512
Current assets
Stocks	6	3,221,147	3,014,908
Debtors	7	490,192	258,332
Cash at bank and in hand		1,274,799	1,406,876
		4,986,138	4,680,116
Creditors: Amounts falling due within one year	8	(1,936,373)	(1,732,504)
Net current assets		3,049,765	2,947,612
Total assets less current liabilities		3,145,777	3,068,124
Provisions for liabilities		(22,935)	(28,992)
Net assets		3,122,842	3,039,132
Capital and reserves
Called up share capital	9	100	100
Retained earnings		3,122,742	3,039,032
Shareholders' funds		3,122,842	3,039,132

For the financial year ending 31 March 2025 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 Profit and Loss Account.

Approved and authorised by the Board on 16 December 2025 and signed on its behalf by:
 

J A Priest
Director

Peach Guitars Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

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

The address of its registered office and principle place of business is: 3 Crown Gate, Wyncolls Road, Severalls Industrial Park, Colchester, Essex, CO4 9HZ.

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.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for the sale of guitars net of discounts and Value Added Tax.

Revenue from sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary material differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Peach Guitars Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Office equipment	25% reducing balance
Motor vehicles	25% reducing balance
Improvements to property	15% Straight line method

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

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 Profit and Loss Account 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.

Peach Guitars Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Long term employee benefits

The holiday year for Peach Guitars Limited ends at 31 December 2025.

Any unused holiday can only be carried forward at the discretion of the directors. The costs of any unused entitlement is recognised in the period in which the employee's services are received.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 26 (2024 - 28).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	74,493	74,493
At 31 March 2025	74,493	74,493
Amortisation
At 1 April 2024	74,493	74,493
At 31 March 2025	74,493	74,493
Carrying amount
At 31 March 2025	-	-

Peach Guitars Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5	Tangible assets

	Improvements to property £	Office equipment  £	Motor vehicles  £	Plant & Machinery £	Total £
Cost or valuation
At 1 April 2024	32,274	98,689	61,073	73,355	265,391
Additions	-	1,051	-	1,862	2,913
At 31 March 2025	32,274	99,740	61,073	75,217	268,304
Depreciation
At 1 April 2024	-	66,476	31,729	46,674	144,879
Charge for the year	4,841	8,211	7,336	7,025	27,413
At 31 March 2025	4,841	74,687	39,065	53,699	172,292
Carrying amount
At 31 March 2025	27,433	25,053	22,008	21,518	96,012
At 31 March 2024	31,977	32,213	29,344	26,978	120,512

6

Stocks

	2025 £	2024 £
Stocks	3,221,147	3,014,908

7

Debtors

	Note	2025 £	2024 £
Trade debtors		160,343	215,221
Director's loan accounts	12	227,965	-
Other debtors		48,023	-
Prepayments		53,861	43,111
		490,192	258,332

Peach Guitars Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Trade creditors		1,155,582	1,168,659
Loans and borrowings	10	-	5,219
Taxation and social security		291,509	333,978
Other creditors		66,681	71,983
Director's loan accounts	12	-	17,094
Accruals and deferred income		422,601	135,571
		1,936,373	1,732,504