General Information
PEACE CITY . WORLD, LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12161965, registration address Third Floor, 207 Regent Street, London, England, W1B 3HH.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The director believes that the company can successfully manage its business risks and, after making relevant enquiries, the director has a reasonable expectation that the company will have access to adequate resources to continue to trade for the foreseeable future and he believes it is appropriate to continue to adopt the going concern basis in preparing the annual report and accounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Licences and patents
Licences and patents are stated at cost less amortisation. Amortisation of licences is calculated on a straight line basis over the life of the licence. Amortisation of patents is calculated on a straight line basis over the estimated expected useful economic life of the patents of 5 years.
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
|
| 2. |
Average number of employees
Average number of employees during the year was 0 (2024 : 0).
|
| 3. |
Intangible fixed assets
| Cost |
License |
|
Total |
| |
£ |
|
£ |
| At 01 September 2024 |
21,510 |
|
21,510 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 August 2025 |
21,510 |
|
21,510 |
| Amortisation |
| At 01 September 2024 |
4,302 |
|
4,302 |
| Charge for year |
4,302 |
|
4,302 |
| On disposals |
- |
|
- |
| At 31 August 2025 |
8,604 |
|
8,604 |
| Net book values |
| At 31 August 2025 |
12,906 |
|
12,906 |
| At 31 August 2024 |
17,208 |
|
17,208 |
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Motor Vehicles |
|
Total |
| |
£ |
|
£ |
| At 01 September 2024 |
- |
|
- |
| Additions |
83,670 |
|
83,670 |
| Disposals |
- |
|
- |
| At 31 August 2025 |
83,670 |
|
83,670 |
| Depreciation |
| At 01 September 2024 |
- |
|
- |
| Charge for year |
25,101 |
|
25,101 |
| On disposals |
- |
|
- |
| At 31 August 2025 |
25,101 |
|
25,101 |
| Net book values |
| Closing balance as at 31 August 2025 |
58,569 |
|
58,569 |
| Opening balance as at 01 September 2024 |
- |
|
- |
The net book value of Motor Vehicles includes £ 58,569 in respect of assets leased under finance leases or hire purchase contracts.
|
| 5. |
Share Capital
Allotted, called up and fully paid
|
2025
£ |
|
2024
£ |
|
120
Class B shares of £1,250.00 each |
150,000 |
|
150,000 |
|
150,000 |
|
150,000 |
Allotted, called up and partly paid
|
2025
£ |
|
2024
£ |
|
4,000,000
Class A shares of £1.00 each |
4,000,000 |
|
4,000,000 |
|
4,000,000 |
|
4,000,000 |
|
2
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