Peacock Property Management Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07671346 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2023

for

PEACOCK PROPERTY MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D A J Peacock

S D Peacock

REGISTERED OFFICE:

Bath House

6-8 Bath Street

Bristol

BS1 6HL

REGISTERED NUMBER:

07671346 (England and Wales)

ACCOUNTANTS:

Haines Watts

Bath House

6-8 Bath Street

Bristol

BS1 6HL

FIXED ASSETS

Tangible assets

4

117

232

Investment property

5

2,327,100

2,424,018

2,327,217

2,424,250

CURRENT ASSETS

Debtors

6

10,871

7,101

Cash at bank

8,755

29,215

19,626

36,316

CREDITORS

Amounts falling due within one year

7

(507,363

)

(510,451

)

NET CURRENT LIABILITIES

(487,737

)

(474,135

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,839,480

1,950,115

CREDITORS

Amounts falling due after more than one year

8

(1,032,345

)

(1,057,345

)

PROVISIONS FOR LIABILITIES

(147,936

)

(171,134

)

NET ASSETS

659,199

721,636

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Fair value reserve

601,530

674,698

Retained earnings

56,669

45,938

SHAREHOLDERS' FUNDS

659,199

721,636

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 March 2024 and were signed on its behalf by:

D A J Peacock - Director

1.	COMPANY INFORMATION

Peacock Property Management 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.

The company's principal activities and nature of its operations are those of property rental, management and development.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business.

Tangible fixed assets

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

Motor vehicles

-

25% 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.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 July 2022

and 30 June 2023

462

DEPRECIATION

At 1 July 2022

230

Charge for year

115

At 30 June 2023

345

NET BOOK VALUE

At 30 June 2023

117

At 30 June 2022

232

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2022

2,424,018

Revaluations

(96,918

)

At 30 June 2023

2,327,100

NET BOOK VALUE

At 30 June 2023

2,327,100

At 30 June 2022

2,424,018

The valuation of investment properties were made as at 30 June 2023 by the directors on an open market basis. No depreciation is provided in respect of these properties.

On an historical cost basis these would have been included at an original cost of £1,577,634.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

8,420

6,959

Prepayments and accrued income

2,451

142

10,871

7,101

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other loans

12,500

25,000

Tax

3,223

-

Other creditors

9,014

7,109

Directors' current accounts

479,866

475,641

Accrued expenses

2,760

2,701

507,363

510,451

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans - more than 5 yrs

1,032,345

1,032,345

Other loans - 1-2 years

-

25,000

1,032,345

1,057,345

Amounts falling due in more than five years:

Repayable by instalments

Bank loans - more than 5 yrs

1,032,345

1,032,345

9.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loans

1,032,345

1,032,345

The bank loan is secured by a standard debenture in favour of the company's bankers over the company's investment properties.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

1,000

Ordinary

£1.00

1,000

1,000