Peacock Property Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07671346 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2018

for

PEACOCK PROPERTY MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D A J Peacock

A G Peacock

S D Peacock

J Peacock

REGISTERED OFFICE:

Bath House

6-8 Bath Street

Bristol

BS1 6HL

REGISTERED NUMBER:

07671346 (England and Wales)

ACCOUNTANTS:

Haines Watts

Bath House

6-8 Bath Street

Bristol

BS1 6HL

FIXED ASSETS

Investment property

4

1,380,138

1,328,333

CURRENT ASSETS

Stocks

201,216

-

Debtors

5

253,358

246,141

Cash at bank and in hand

2,847

11,563

457,421

257,704

CREDITORS

Amounts falling due within one year

6

954,342

738,508

NET CURRENT LIABILITIES

(496,921

)

(480,804

)

TOTAL ASSETS LESS CURRENT LIABILITIES

883,217

847,529

CREDITORS

Amounts falling due after more than one year

7

(467,500

)

(467,500

)

PROVISIONS FOR LIABILITIES

(49,253

)

-

NET ASSETS

366,464

380,029

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Fair value reserve

419,533

367,728

Retained earnings

(54,069

)

11,301

SHAREHOLDERS' FUNDS

366,464

380,029

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors on 22 March 2019 and were signed on its behalf by:

D A J Peacock - Director

1.	COMPANY INFORMATION

Peacock Property Management Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small

Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and

Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary

amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting

policies adopted are set out below.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company

has adequate resources to continue in operational existence for the foreseeable future. Thus the directors

continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts

receivable for services provided in the normal course of business, net of discounts, VAT and other sales related

taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes

in fair value is recognised in profit or loss.

Stocks

Work in progress is stated at the lower of cost and net realisable value. Cost comprises direct materials and

where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to

their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred

in marketing, selling and distribution.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid

investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown

within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are

recognised when the company becomes party to the contractual provisions of the instrument. Financial assets

and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise

the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash

and bank balances, are initially measured at transaction price including transaction costs and are subsequently

carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows

from the asset expire or are settled, or when the company transfers the financial asset and substantially all the

risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are

retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an

unrelated third party.

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are

initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the

debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial

liabilities are derecognised when, and only when, the company's contractual obligations are discharged,

cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account,

except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2017

1,328,333

Revaluations

51,805

At 30 June 2018

1,380,138

NET BOOK VALUE

At 30 June 2018

1,380,138

At 30 June 2017

1,328,333

Fair value at 30 June 2018 is represented by:

£

Valuation in 2017

367,728

Valuation in 2018

51,805

Cost

960,605

1,380,138

In the opinion of the directors the fair value of investment properties as at 30 June 2018 is £1,380,138.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed by associates

248,613

244,891

Other debtors

4,745

875

Tax

-

375

253,358

246,141

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other creditors

4,745

875

Directors' current accounts

941,202

729,300

Accrued expenses

8,395

8,333

954,342

738,508

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans - 2-5 years

467,500

467,500

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

467,500

467,500

The bank loan is secured by a standard debenture in favour of the company's bankers over the company's

investment properties.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

1,000

Ordinary

£1.00

1,000

1,000