Peninsula Ventures Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC550773 (Scotland)

Financial Statements for the Year Ended 30 November 2018

for

Peninsula Ventures Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S Bakhsh

REGISTERED OFFICE:

Trident House

175 Renfrew Road

PAISLEY

Renfrewshire

PA3 4EF

REGISTERED NUMBER:

SC550773 (Scotland)

FIXED ASSETS

Investment property

3

1,420,000

284,604

CURRENT ASSETS

Debtors

4

913,402

615,652

Cash at bank and in hand

73

13,642

913,475

629,294

CREDITORS

Amounts falling due within one year

5

1,941,954

1,003,485

NET CURRENT LIABILITIES

(1,028,479

)

(374,191

)

TOTAL ASSETS LESS CURRENT LIABILITIES

391,521

(89,587

)

PROVISIONS FOR LIABILITIES

94,885

-

NET ASSETS/(LIABILITIES)

296,636

(89,587

)

CAPITAL AND RESERVES

Called up share capital

7

2

2

Fair value reserve

8

404,511

-

Retained earnings

(107,877

)

(89,589

)

296,636

(89,587

)

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

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

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director on 30 August 2019 and were signed by:

S Bakhsh - Director

1.	STATUTORY INFORMATION

Peninsula Ventures Ltd is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company has a net deficit on the balance sheet of £89,589. However the going concern basis of preparation

is appropriate as the director continues to support the business.

Investment property

Investment property is initially shown at cost and will subsequently be shown at fair value. Any aggregate

surplus or deficit arising from changes in fair value is recognised in profit and loss.

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.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 December 2017

284,604

Additions

636,000

Revaluations

499,396

At 30 November 2018

1,420,000

NET BOOK VALUE

At 30 November 2018

1,420,000

At 30 November 2017

284,604

Cost or valuation at 30 November 2018 is represented by:

£

Valuation in 2017

1,420,000

If the investment property had not been revalued it would have been included at the following historical cost:

30.11.18

30.11.17

£

£

Cost

920,604

-

the Investment property was valued on an open market basis on by Jones Lang LaSalle .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Other debtors

913,402

615,652

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Other creditors

1,941,954

1,003,485

6.	SECURED DEBTS

The following secured debts are included within creditors:

30.11.18

30.11.17

£

£

Other loans

1,222,016

824,000

Amicus Finance PLC holds a floating charge over all the property or undertaking of the company.

7.	CALLED UP SHARE CAPITAL

**	POSTING HAS BEEN MADE TO SHARE CAPITAL 1 ACCOUNT ON TRIAL BALANCE BUT NO CORRESPONDING ENTRY HAS BEEN MADE ON CLIENT SCREEN FOR SHARE CAPITAL 1

THIS NOTE WILL THEREFORE NOT AGREE TO AMOUNT SHOWN ON

BALANCE SHEET

8.

RESERVES

Fair

value

reserve

£

Revaluation

499,396

Deferred tax on revaluation

(94,885

)

At 30 November 2018

404,511