Peak Resources Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06935762 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2021

for

Peak Resources Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTORS:

KRS Shaw

SJ Shaw

REGISTERED OFFICE:

c/o Charnwood Accountants

The Point, Granite Way

Mountsorrel

Loughborough

Leicestershire

LE12 7TZ

REGISTERED NUMBER:

06935762 (England and Wales)

ACCOUNTANTS:

Charnwood Accountants & Business Advisors LLP

The Point

Granite Way

Mountsorrel

Loughborough

Leicestershire

LE12 7TZ

FIXED ASSETS

Tangible assets

4

6,378

18,750

Investment property

5

105,974

90,185

112,352

108,935

CURRENT ASSETS

Stocks

1,016

-

Debtors

6

6,062

-

Cash at bank

4,213

5,274

11,291

5,274

CREDITORS

Amounts falling due within one year

7

40,391

49,702

NET CURRENT LIABILITIES

(29,100

)

(44,428

)

TOTAL ASSETS LESS CURRENT LIABILITIES

83,252

64,507

PROVISIONS FOR LIABILITIES

692

-

NET ASSETS

82,560

64,507

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

82,460

64,407

SHAREHOLDERS' FUNDS

82,560

64,507

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 directors acknowledge their 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 Board of Directors and authorised for issue on 19 January 2022 and were signed on its behalf by:

KRS Shaw - Director

1.	STATUTORY INFORMATION

Peak Resources 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.

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.

Fixtures and fittings

-

33% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 September 2020

-

20,415

1,059

21,474

Additions

5,149

-

2,541

7,690

Disposals

-

(20,415

)

-

(20,415

)

At 31 August 2021

5,149

-

3,600

8,749

DEPRECIATION

At 1 September 2020

-

2,127

597

2,724

Charge for year

879

-

895

1,774

Eliminated on disposal

-

(2,127

)

-

(2,127

)

At 31 August 2021

879

-

1,492

2,371

NET BOOK VALUE

At 31 August 2021

4,270

-

2,108

6,378

At 31 August 2020

-

18,288

462

18,750

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2020

90,185

Additions

15,789

At 31 August 2021

105,974

NET BOOK VALUE

At 31 August 2021

105,974

At 31 August 2020

90,185

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

£

£

Other debtors

6,062

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

£

£

Trade creditors

7,252

-

Taxation and social security

8,488

18,953

Other creditors

24,651

30,749

40,391

49,702

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.21

31.8.20

value:

£

£

100

Ordinary

£1

100

100

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr K Shaw and Mrs S Shaw.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Peak Resources Limited for the year ended 31 August 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Peak Resources Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Peak Resources Limited and state those matters that we have agreed to state to the Board of Directors of Peak Resources Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Peak Resources Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Peak Resources Limited. You consider that Peak Resources Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Peak Resources Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Charnwood Accountants & Business Advisors LLP

The Point

Granite Way

Mountsorrel

Loughborough

Leicestershire

LE12 7TZ

19 January 2022