Peakcon Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05412251 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

PEAKCON LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Ms S Tryvainen

SECRETARY:

R D Lanning

REGISTERED OFFICE:

47 Boundstone Lane

Sompting

West Sussex

BN15 9QR

REGISTERED NUMBER:

05412251 (England and Wales)

ACCOUNTANTS:

Galloways Accounting (Hove) Limited

The Old Casino

28 Fourth Avenue

Hove

East Sussex

BN3 2PJ

FIXED ASSETS

Tangible assets

4

39

52

CURRENT ASSETS

Cash at bank

2,531

3,004

CREDITORS

Amounts falling due within one year

5

29,606

24,996

NET CURRENT LIABILITIES

(27,075

)

(21,992

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(27,036

)

(21,940

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(27,037

)

(21,941

)

SHAREHOLDERS' FUNDS

(27,036

)

(21,940

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 21 December 2022 and were signed by:

Ms S Tryvainen - Director

1.	STATUTORY INFORMATION

Peakcon 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.

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 shown by the attached Balance Sheet the company's assets are exceeded by its liabilities.

The main creditor of the company is the director/shareholder and she has indicated this support will continue for the foreseeable future. Therefore, in her opinion, it is appropriate for these accounts to be prepared on a going concern basis.

Turnover

Turnover represents sales of services and is recognised at the point the customer is entitled to consideration.

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

-

20% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2021

and 31 March 2022

2,087

DEPRECIATION

At 1 April 2021

2,035

Charge for year

13

At 31 March 2022

2,048

NET BOOK VALUE

At 31 March 2022

39

At 31 March 2021

52

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other creditors

135

300

Directors' current accounts

28,692

24,366

Accrued expenses

779

330

29,606

24,996

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, Ms S Tryvainen increased her loan to the company. As at 31 March 2022, the company owed her £28,692 (2021: £24,366). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Ms S Tryvainen.

This was by virtue of her 100% holding of the issued share capital.