Peterhouse Securities Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10739537 (England and Wales)

Financial Statements for the Year Ended 31 March 2021

for

Peterhouse Securities Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Leslie John Brady

Dr Antonios Hanna Ghorayeb

Ahmad Rizk

Kayssar Ghorayeb

SECRETARY:

Rami Aoun

REGISTERED OFFICE:

80, Cheapside

London

EC2V 6EE

REGISTERED NUMBER:

10739537 (England and Wales)

AUDITORS:

Merali's

Chartered Accountants & Statutory Auditors

Scottish Provident House

76-80 College Road

Harrow

Middlesex

HA1 1BQ

FIXED ASSETS

Investments

4

8,590,519

-

CURRENT ASSETS

Debtors

5

18,792

18,791

Investments

6

-

24,914,735

Cash at bank

3,375

4,227

22,167

24,937,753

CREDITORS

Amounts falling due within one year

7

(21,000

)

(12,000

)

NET CURRENT ASSETS

1,167

24,925,753

TOTAL ASSETS LESS CURRENT LIABILITIES

8,591,686

24,925,753

CAPITAL AND RESERVES

Called up share capital

25,000,000

25,000,000

Non-Distributable reserve

(14,345,781

)

1,348,435

Retained earnings

(2,062,533

)

(1,422,682

)

8,591,686

24,925,753

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 Board of Directors and authorised for issue on 27 May 2022 and were signed on its behalf by:

Ahmad Rizk - Director

1.	STATUTORY INFORMATION

Peterhouse Securities 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year 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 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.

Investments and other financial assets

The company classifies its investments in the following measurement categories:

> those to be measured at fair value through profit or loss and

> those to be measured at amortised cost.

Investments in unlisted company shares, whose market value can be reliably determined, are measured to market value at each statement of financial position date. Gains and losses on remeasurement are recognised in the profit or loss for the period and are held in an undistributable reserve. Where market value can not be reliably determined, such investments are stated at historic cost less impairment.

Investment in listed company shares are remeasured to market value at each Statement of financial position date. Gains and losses on remeasurement are recognised in the statement of profit or loss and are held in a distributable reserve.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertaki

£

COST

Reclassification/transfer

8,590,519

At 31 March 2021

8,590,519

NET BOOK VALUE

At 31 March 2021

8,590,519

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

18,792

18,791

6.	CURRENT ASSET INVESTMENTS

2021

2020

£

£

Listed investments

-

7,350,000

Unlisted investments

-

17,564,735

-

24,914,735

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other creditors

21,000

12,000

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

MPK Merali (Senior Statutory Auditor)

for and on behalf of Merali's

9.	ULTIMATE CONTROLLING PARTY

As at the balance sheet date, the ultimate controlling party is Levant Investment Bank s.a.l (Libank) following its acquisition of a majority shareholding in December 2019.