Peach T.V Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04265424 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

FOR

PEACH T.V LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R J Perry

REGISTERED OFFICE:

Room 73

Wrest House

Wrest Park

Silsoe

Bedfordshire

MK45 4HR

REGISTERED NUMBER:

04265424 (England and Wales)

ACCOUNTANTS:

MDG Business Associates Limited

Room 73

Wrest House

Wrest Park

Silsoe

Bedfordshire

MK45 4HR

FIXED ASSETS

Tangible assets

4

49,496

33,709

CURRENT ASSETS

Debtors

5

5,805

-

Cash at bank and in hand

1,300

938

7,105

938

CREDITORS

Amounts falling due within one year

6

50,071

21,680

NET CURRENT LIABILITIES

(42,966

)

(20,742

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,530

12,967

CREDITORS

Amounts falling due after more than one year

7

3,750

-

NET ASSETS

2,780

12,967

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

2,779

12,966

SHAREHOLDERS' FUNDS

2,780

12,967

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 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 and authorised for issue on 24 May 2022 and were signed by:

R J Perry - Director

1.	STATUTORY INFORMATION

Peach T.V Ltd. 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.

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

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

33% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on 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.

Bounce back loan scheme

The Bounce Back Loan Scheme (BBLS) enables smaller businesses to access finance more quickly during the coronavirus outbreak. The scheme helps small and medium-sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available was £50,000. The government guarantees 100% of the loan and there are no fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5% a year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 September 2020

72,957

-

-

21,736

94,693

Additions

2,044

3,009

20,850

3,893

29,796

At 31 August 2021

75,001

3,009

20,850

25,629

124,489

Depreciation

At 1 September 2020

44,015

-

-

16,969

60,984

Charge for year

10,045

439

2,172

1,353

14,009

At 31 August 2021

54,060

439

2,172

18,322

74,993

Net book value

At 31 August 2021

20,941

2,570

18,678

7,307

49,496

At 31 August 2020

28,942

-

-

4,767

33,709

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Corporation tax

5,805

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

2,441

5,000

Corporation tax

-

1,068

VAT

1,529

2,610

Director's loan account

44,401

11,102

Accruals and deferred income

1,700

1,900

50,071

21,680

The bank loan is undertaken under the Bounce Back Loan Scheme. The loan is 100% government guaranteed with interest charged at 2.5% per annum from year 2.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans - 2-5 years

3,750

-

The bank loan is undertaken under the Bounce Back Loan Scheme. The loan is 100% government guaranteed with interest charged at 2.5% per annum from year 2.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

1

Ordinary

£1

1

1

9.	RELATED PARTY DISCLOSURES

Included in creditors is an amount of £44,401 (2020: £11,102) due from the company to R J Perry, director. There has been no interest charged on the balance during the year (2020: £Nil) and there are no set repayment terms.