PEAKTOP LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05048821 (England and Wales)

Unaudited Financial Statements

for the Period 1 March 2018 to 31 March 2019

for

PEAKTOP LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr I Reich

REGISTERED OFFICE:

88A OSBALDESTON ROAD

LONDON

N16 6NL

REGISTERED NUMBER:

05048821 (England and Wales)

FIXED ASSETS

Investment property

4

2,071,834

2,071,834

2,071,834

2,071,834

CURRENT ASSETS

Debtors

5

5,000

15,000

Cash at bank

288

17,379

5,288

32,379

CREDITORS

Amounts falling due within one year

6

151,143

179,658

NET CURRENT LIABILITIES

(145,855

)

(147,279

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,925,979

1,924,555

CREDITORS

Amounts falling due after more than one year

7

870,406

870,406

PROVISIONS FOR LIABILITIES

9

214,499

214,499

CAPITAL AND RESERVES

Called up share capital

1

1

Fair value reserve

10

1,021,424

1,021,424

Retained earnings

(180,351

)

(181,775

)

SHAREHOLDERS' FUNDS

841,074

839,650

1,925,979

1,924,555

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2019 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 applicable to companies subject to the small companies regime.

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 13 January 2020 and were signed by:

Mr I Reich - Director

1.	STATUTORY INFORMATION

PEAKTOP 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents rent receivable from company's own investment properties.

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.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

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

of financial position 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 period 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 period was 1 (2018 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2018

and 31 March 2019

2,071,834

NET BOOK VALUE

At 31 March 2019

2,071,834

At 28 February 2018

2,071,834

Fair value at 31 March 2019 is represented by:

£

Valuation in 2019

1,021,424

Cost

1,050,410

2,071,834

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

28.2.18

£

£

Other debtors

5,000

15,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

28.2.18

£

£

Trade creditors

-

(1

)

Amounts owed to participating interests

81,000

81,000

Tax

377

9,415

Directors' current accounts

68,016

87,194

Accrued expenses

1,750

2,050

151,143

179,658

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

28.2.18

£

£

Bank loans more 5 yrs non-inst

870,406

870,406

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

870,406

870,406

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

28.2.18

£

£

Bank loans

870,406

870,406

secured on the investment properties owned by the company.

9.	PROVISIONS FOR LIABILITIES

31.3.19

28.2.18

£

£

Deferred tax

214,499

214,499

Deferred

tax

£

Balance at 1 March 2018

214,499

Balance at 31 March 2019

214,499

10.

RESERVES

Fair

value

reserve

£

At 1 March 2018

and 31 March 2019

1,021,424