Peppercorn Investments Limited Small abbreviated accounts

PEPPERCORN INVESTMENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER 05317627

PEPPERCORN INVESTMENTS LIMITED

ABBREVIATED ACCOUNTS

30 September 2015

ELLIOT, WOOLFE & ROSE

Chartered Accountants

Equity House

128-136 High Street

Edgware

Middlesex

HA8 7TT

PEPPERCORN INVESTMENTS LIMITED

ABBREVIATED BALANCE SHEET

30 September 2015

	2015	2014
Note	£	£	£	£
FIXED ASSETS	2
Tangible assets		3,936		927
Investments		9,728,104		8,874,205
		-------------		-------------
		9,732,040		8,875,132

CURRENT ASSETS

Debtors	157,500		106,094
Cash at bank and in hand	226,831		155,928
	----------		----------
	384,331		262,022
CREDITORS: Amounts falling due within one year	349,936		339,969
	----------		----------
NET CURRENT ASSETS/(LIABILITIES)		34,395		( 77,947)
		-------------		-------------
TOTAL ASSETS LESS CURRENT LIABILITIES		9,766,435		8,797,185

CREDITORS: Amounts falling due after more than one year	3		5,966,402		4,914,685

PROVISIONS FOR LIABILITIES	967,147	777,465
	-------------	-------------
	2,832,886	3,105,035
	-------------	-------------

CAPITAL AND RESERVES

Called up equity share capital	4		2,500,008		2,500,008
Revaluation reserve		331,931		456,931
Profit and loss account		947		148,096
		-------------		-------------
SHAREHOLDERS' FUNDS		2,832,886		3,105,035
		-------------		-------------

For the year ended 30 September 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved by the directors and authorised for issue on 15 April 2016 , and are signed on their behalf by:

Mr M A Nathan Director

Company Registration Number: 05317627

PEPPERCORN INVESTMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 30 SEPTEMBER 2015

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

The turnover for the year represents Rental Income receivable exclusive of Value Added Tax.

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Equipment-25% on reducing balance

Investment properties

In accordance with paragraph 5.38 of the Financial Reporting Standard for Smaller Entities, as the company's property investments are held for long term investment, they have been included in the balance sheet at their open market values. Changes in the values of investment properties are disclosed as a movement on an investment revaluation reserve.

Depreciation is not provided in respect of investment properties, in accordance with paragraph 5.37 of the Financial Reporting Standard for Smaller Entities.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

2. FIXED ASSETS

Tangible Assets	Investments	Total
£	£	£

COST OR VALUATION

At 1 October 2014	1,648	8,874,205	8,875,853
Additions	4,321	978,899	983,220
Revaluation	–	(125,000)	(125,000)
	-------	-------------	-------------
At 30 September 2015	5,969	9,728,104	9,734,073
	-------	-------------	-------------

DEPRECIATION

At 1 October 2014	721	–	721
Charge for year	1,312	–	1,312
	-------	----	-------
At 30 September 2015	2,033	–	2,033
	-------	----	-------

NET BOOK VALUE

At 30 September 2015	3,936	9,728,104	9,732,040
	-------	-------------	-------------

At 30 September 2014	927	8,874,205	8,875,132
	-------	-------------	-------------

Investment Properties Investment Properties owned at 30 September 2014 were professionally valued during the year by Messrs Colliers International, Chartered Surveyors and at 30 September 2015 by its directors at open market value. Investment in Associate The company has a 50% shareholding in Esperanza Leisure Limited, a company incorporated in Scotland at a cost of £5.

3. CREDITORS: Amounts falling due after more than one year

The following liabilities disclosed under creditors falling due after more than one year are secured by the company:

	2015	2014
	£	£
Bank loans and overdrafts	2,636,472	2,636,472
	-------------	-------------

4. SHARE CAPITAL

Allotted, called up and fully paid:

2015	2014
No	£	No	£
Ordinary shares of £ 0.50 each	16	8	16	8
Preference shares of £ 1 each	2,500,000	2,500,000	2,500,000	2,500,000
	-------------	-------------	-------------	-------------
	2,500,016	2,500,008	2,500,016	2,500,008
	-------------	-------------	-------------	-------------

In April 2016, the company issued further 500,000 £1 Preference Shares, at par, to its immediate parent company, Peppercorn Property Investments Limited.

5. ULTIMATE HOLDING COMPANY

The ultimate holding company is Bedford Square Properties Limited, a company incorporated in the Isle of Man.