Company No:
Contents
| Note | 2026 | 2025 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investment property | 3 |
|
|
|
| Investments | 4 |
|
|
|
| 2,506,901 | 1,503,758 | |||
| Current assets | ||||
| Debtors | 5 |
|
|
|
| Cash at bank and in hand |
|
|
||
| 19,140 | 9,781 | |||
| Creditors: amounts falling due within one year | 6 | (
|
(
|
|
| Net current liabilities | (2,055,739) | (1,314,709) | ||
| Total assets less current liabilities | 451,162 | 189,049 | ||
| Creditors: amounts falling due after more than one year | 7 | (
|
|
|
| Provision for liabilities | (
|
(
|
||
| Net assets |
|
|
||
| Capital and reserves | ||||
| Called-up share capital | 8 |
|
|
|
| Profit and loss account |
|
|
||
| Total shareholder's funds |
|
|
Director's responsibilities:
The financial statements of Peninsula Sand Propco Ltd. (registered number:
|
J P Brain
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Peninsula Sand Propco Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Home Farm 62 High Street, Steeple Ashton, Trowbridge, BA14 6EU, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the Company's net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the Company's net investment outstanding in respect of leases.
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.
The fair value is determined annually by the director, on an open market value for existing use basis.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
| 2026 | 2025 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including the director |
|
|
| Investment property | |
| £ | |
| Valuation | |
| As at 01 April 2025 |
|
| Additions | 9,676 |
| Disposals | (620,509) |
| As at 31 March 2026 |
|
Investments in subsidiaries
| 2026 | |
| £ | |
| Cost | |
| At 01 April 2025 |
|
| Additions |
|
| At 31 March 2026 |
|
| Carrying value at 31 March 2026 |
|
| Carrying value at 31 March 2025 |
|
| 2026 | 2025 | ||
| £ | £ | ||
| Trade debtors |
|
|
|
| Prepayments |
|
|
|
| VAT recoverable |
|
|
|
|
|
|
| 2026 | 2025 | ||
| £ | £ | ||
| Bank loans (secured) |
|
|
|
| Trade creditors |
|
|
|
| Amounts owed to Group undertakings |
|
|
|
| Accruals |
|
|
|
| Taxation and social security |
|
|
|
|
|
|
The loans are secured by way of fixed and floating charges over all the property and undertaking of the company containing a negative pledge.
Amounts owed to Group undertakings are repayable on demand and do not bear interest.
| 2026 | 2025 | ||
| £ | £ | ||
| Bank loans (secured) |
|
|
Amounts repayable after more than 5 years are included in creditors falling due over one year:
| 2026 | 2025 | ||
| £ | £ | ||
| Bank loans (secured) |
|
|
| 2026 | 2025 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
|
|
|
|
Within the profit and loss reserve is a non-distributable amount totalling £61,033 comprising the total unrealised gain on the investment property of £81,378 less the associated deferred tax of £20,345. Distributable reserves therefore total £95,464 at the balance sheet date.