Peat Springs Ltd

Peat Springs Ltd

PEAT SPRINGS LTD - Company Information

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1 October 2021 false No description of principal activity Taxfiler 2023.4.2 10359779business:PrivateLimitedCompanyLtd2021-10-012022-09-30 103597792021-09-30 103597792021-10-012022-09-30 10359779business:AuditExempt-NoAccountantsReport2021-10-012022-09-30 10359779business:FullAccounts2021-10-012022-09-30 103597792022-09-30 10359779business:Director12021-10-012022-09-30 10359779business:RegisteredOffice2021-10-012022-09-30 103597792021-09-30 10359779core:WithinOneYear2022-09-30 10359779core:WithinOneYear2021-09-30 10359779core:AfterOneYear2022-09-30 10359779core:AfterOneYear2021-09-30 10359779core:SharePremium2022-09-30 10359779core:SharePremium2021-09-30 10359779core:RetainedEarningsAccumulatedLosses2022-09-30 10359779core:RetainedEarningsAccumulatedLosses2021-09-30 10359779business:SmallEntities2021-10-012022-09-30 10359779countries:EnglandWales2021-10-012022-09-30 10359779core:MotorVehicles2021-09-30 10359779core:FurnitureFittings2021-09-30 10359779core:ComputerEquipment2021-09-30 10359779core:MotorVehicles2021-10-012022-09-30 10359779core:FurnitureFittings2021-10-012022-09-30 10359779core:ComputerEquipment2021-10-012022-09-30 10359779core:MotorVehicles2022-09-30 10359779core:FurnitureFittings2022-09-30 10359779core:ComputerEquipment2022-09-30 10359779core:DisposalsRepaymentsInvestments2022-09-30 103597792020-10-012021-09-30 iso4217:GBP xbrli:pure
Company Registration No. 10359779 (England and Wales)
Peat Springs Ltd Unaudited accounts for the year ended 30 September 2022
Peat Springs Ltd Unaudited accounts Contents
Page
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Peat Springs Ltd Company Information for the year ended 30 September 2022
Director
Andrius URBONAVICIUS
Company Number
10359779 (England and Wales)
Registered Office
16 Great Queen Street London WC2B 5AH UK
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Peat Springs Ltd Statement of financial position as at 30 September 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
1,170 
92,930 
Investments
5
- 
200,000 
1,170 
292,930 
Current assets
Debtors
6
2,317 
1,094,912 
Cash at bank and in hand
9,625 
2,267 
11,942 
1,097,179 
Creditors: amounts falling due within one year
7
(60,053)
(596,776)
Net current (liabilities)/assets
(48,111)
500,403 
Total assets less current liabilities
(46,941)
793,333 
Creditors: amounts falling due after more than one year
8
(167,700)
(1,562,454)
Net liabilities
(214,641)
(769,121)
Capital and reserves
Share premium
100 
100 
Profit and loss account
(214,741)
(769,221)
Shareholders' funds
(214,641)
(769,121)
For the year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 May 2023 and were signed on its behalf by
Andrius URBONAVICIUS Director Company Registration No. 10359779
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Peat Springs Ltd Notes to the Accounts for the year ended 30 September 2022
1
Statutory information
Peat Springs Ltd is a private company, limited by shares, registered in England and Wales, registration number 10359779. The registered office is 16 Great Queen Street, London, WC2B 5AH, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 30 September 2022 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 October 2020. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
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, using the straight-line method and reducing balance method. Depreciation is provided on the following basis: Motor vehicles - 20% Reducing Balance Method Fixtures and fittings - 25% Straight-Line Method Office equipment - 25% Straight-Line Method 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.
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Peat Springs Ltd Notes to the Accounts for the year ended 30 September 2022
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 October 2021
156,000 
360 
7,254 
163,614 
Disposals
(156,000)
- 
- 
(156,000)
At 30 September 2022
- 
360 
7,254 
7,614 
Depreciation
At 1 October 2021
66,144 
229 
4,311 
70,684 
Charge for the year
17,971 
90 
1,814 
19,875 
On disposals
(84,115)
- 
- 
(84,115)
At 30 September 2022
- 
319 
6,125 
6,444 
Net book value
At 30 September 2022
- 
41 
1,129 
1,170 
At 30 September 2021
89,856 
131 
2,943 
92,930 
5
Investments
Other investments 
£ 
Valuation at 1 October 2021
200,000 
Disposals
(200,000)
Valuation at 30 September 2022
- 
6
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
366,206 
Amounts falling due after more than one year
Accrued income and prepayments
2,317 
2,079 
Other debtors
- 
726,627 
2,317 
728,706 
7
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
- 
10,000 
Trade creditors
2,115 
254,658 
Taxes and social security
(630)
2,995 
Other creditors
54,923 
326,723 
Loans from directors
165 
- 
Accruals
3,480 
2,400 
60,053 
596,776 
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Peat Springs Ltd Notes to the Accounts for the year ended 30 September 2022
8
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
- 
36,667 
Other creditors
167,700 
1,525,787 
167,700 
1,562,454 
9
Average number of employees
During the year the average number of employees was 2 (2021: 3).
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