ACCOUNTS - Final Accounts preparation

PEAK HOUSE PROPERTIES LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-31No description of principal activity52021-04-01false5falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11969363 2021-04-01 2022-03-31 11969363 2020-04-01 2021-03-31 11969363 2022-03-31 11969363 2021-03-31 11969363 c:Director1 2021-04-01 2022-03-31 11969363 d:Buildings 2021-04-01 2022-03-31 11969363 d:Buildings 2022-03-31 11969363 d:Buildings 2021-03-31 11969363 d:LandBuildings 2022-03-31 11969363 d:LandBuildings 2021-03-31 11969363 d:CurrentFinancialInstruments 2022-03-31 11969363 d:CurrentFinancialInstruments 2021-03-31 11969363 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11969363 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 11969363 d:ShareCapital 2022-03-31 11969363 d:ShareCapital 2021-03-31 11969363 d:RetainedEarningsAccumulatedLosses 2022-03-31 11969363 d:RetainedEarningsAccumulatedLosses 2021-03-31 11969363 c:FRS102 2021-04-01 2022-03-31 11969363 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 11969363 c:FullAccounts 2021-04-01 2022-03-31 11969363 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 11969363

PEAK HOUSE PROPERTIES LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2022

PEAK HOUSE PROPERTIES LTD

REGISTERED NUMBER: 11969363

BALANCE SHEET

AS AT 31 MARCH 2022

		2022		2021
Note		£		£

Fixed assets
Tangible assets	4		519,407		320,836
			519,407		320,836
Current assets
Cash at bank and in hand	5	25,589		3,526
		25,589		3,526
Creditors: amounts falling due within one year	6	(537,173)		(325,468)
Net current liabilities			(511,584)		(321,942)
Total assets less current liabilities			7,823		(1,106)

Net assets/(liabilities)			7,823		(1,106)

Capital and reserves
Called up share capital	100	100
Profit and loss account	7,723	(1,206)
	7,823	(1,106)

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PEAK HOUSE PROPERTIES LTD

REGISTERED NUMBER: 11969363

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 September 2022.

................................................

Daniel Healey

Director

The notes on pages 3 to 6 form part of these financial statements.

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PEAK HOUSE PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

1.	General information

Peak House Properties Limited is a private company limited by shares, registered in the United Kingdom number 11969363. Its registered office is Manor House, 35 St. Thomas’s Road, Chorley, Lancashire, PR7 1HP. During the period, the principal activity of the company was that of Property Rental.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

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PEAK HOUSE PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Freehold property

Nil

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 5 (2021 - 5).

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PEAK HOUSE PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

4.	Tangible fixed assets

		Freehold property
		£
	Cost or valuation
	At 1 April 2021	320,836
	Additions	198,571
	At 31 March 2022	519,407

	Net book value
	At 31 March 2022	519,407
	At 31 March 2021	320,836

The net book value of land and buildings may be further analysed as follows:
	2022	2021
	£	£

Freehold	519,407	320,836
	519,407	320,836

5.	Cash and cash equivalents
		2022	2021
		£	£

Cash at bank and in hand	25,589	3,527
	25,589	3,527

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PEAK HOUSE PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

6.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Bank loans	305,673	217,455
Corporation tax	1,135	719
Other creditors	229,105	106,034
Accruals and deferred income	1,260	1,260
	537,173	325,468

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