PEYMANS LTD

PEYMANS LTD

PAYMÁN CLUB LTD - Company Information

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PEYMANS LTD

Company Registration Number:
09550831 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2019

Period of accounts

Start date: 30 June 2018

End date: 30 June 2019

PEYMANS LTD

Contents of the Financial Statements

for the Period Ended 30 June 2019

Balance sheet
Notes

PEYMANS LTD

Balance sheet

As at 30 June 2019


Notes
2019
2018


£
£
Fixed assets
Intangible assets: 2 134,281 0
Tangible assets: 3 231,672 213,109
Investments: 4 4 0
Total fixed assets: 365,957 213,109
Current assets
Debtors:   854,370 13,046
Cash at bank and in hand: 110,820 124,934
Total current assets: 965,190 137,980
Creditors: amounts falling due within one year: 5 (774,337) (106,053)
Net current assets (liabilities): 190,853 31,927
Total assets less current liabilities: 556,810 245,036
Creditors: amounts falling due after more than one year: 6 (188,173) (43,822)
Total net assets (liabilities): 368,637 201,214
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 368,537 201,114
Shareholders funds: 368,637 201,214

The notes form part of these financial statements

PEYMANS LTD

Balance sheet statements

For the year ending 30 June 2019 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 17 March 2020
and signed on behalf of the board by:

Name: Naim Anis Peyman
Status: Director

The notes form part of these financial statements

PEYMANS LTD

Notes to the Financial Statements

for the Period Ended 30 June 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises revenue recognised by the company for management of rented properties and short-term lets. Revenue is recognised in the period in which the services are performed.

Tangible fixed assets and depreciation policy

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:Land and Buildings - 20 years Straight LineFixtures and Fittings - 25% Reducing BalanceComputer Equipment - 25% Reducing Balance

Intangible fixed assets and amortisation policy

Intangible assets are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives of 10 years. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.Development costs of computer software are capitalised once a detailed program design has been established and are amortised on a straight line basis over 10 years.Software development costs are recognised as an intangible asset when all of the following criteria are demonstrated:- The technical feasibility of completing the software so that it will be available for use or sale. - The intention to complete the software and use or sell it. - The ability to use the software or to sell it. - How the software will generate probable future economic benefits.- The availability of adequate technical, financial and other resources to complete the development and to use or sell the software.- The ability to measure reliably the expenditure attributable to the software during its development.

PEYMANS LTD

Notes to the Financial Statements

for the Period Ended 30 June 2019

2. Intangible Assets

Total
Cost £
At 30 June 2018 0
Additions 149,260
Disposals 0
Revaluations 0
Transfers 0
At 30 June 2019 149,260
Amortisation
At 30 June 2018 0
Charge for year 14,979
On disposals 0
Other adjustments 0
At 30 June 2019 14,979
Net book value
At 30 June 2019 134,281
At 29 June 2018 0

PEYMANS LTD

Notes to the Financial Statements

for the Period Ended 30 June 2019

3. Tangible Assets

Total
Cost £
At 30 June 2018 283,495
Additions 68,013
At 30 June 2019 351,508
Depreciation
At 30 June 2018 70,386
Charge for year 49,450
At 30 June 2019 119,836
Net book value
At 30 June 2019 231,672
At 29 June 2018 213,109

PEYMANS LTD

Notes to the Financial Statements

for the Period Ended 30 June 2019

4. Fixed investments

Investments in group undertakings:Kew Apartments (Peymans) Ltd - £1Manhattan Apartments (Peymans) Ltd - £1Elm Court (Peymans) Ltd - £1Peninsula House (Peymans) Ltd - £1

PEYMANS LTD

Notes to the Financial Statements

for the Period Ended 30 June 2019

5. Creditors: amounts falling due within one year note

Trade Creditors £3,947Amounts Owed to Group Undertakings £40,349Corporation Tax £11,041PAYE & Social Security £511Accrued Expenses £650,000Other Creditors £30,018Wages & Salaries Control Account £500 Directors' Current Accounts £29,416VAT £5,146

PEYMANS LTD

Notes to the Financial Statements

for the Period Ended 30 June 2019

6. Creditors: amounts falling due after more than one year note

Other Creditors £188,174

PEYMANS LTD

Notes to the Financial Statements

for the Period Ended 30 June 2019

7. Related party transactions

Name of the related party: Naim Anis Peyman
Relationship:
Director
Description of the Transaction: At the balance sheet date, included in other creditors is an amount of £29,416 (2018: £18,437) due to N A Peyman, the director of the company. This amount is unsecured, interest free and repayable on demand. During the year, a salary of £nil (2018: £2,558) was paid to N A Peyman.
£
Balance at 30 June 2018 18,437
Balance at 30 June 2019 29,416