Peppercorn Investments Limited Small abbreviated accounts

Peppercorn Investments Limited Small abbreviated accounts

PEPPERCORN INVESTMENTS LIMITED - Company Information

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FY Private Limited Company Company accounts 2017-06-03 2017-06-03 false true false false false false false false false false false false true true 2015-10-01 true xbrli:pure xbrli:shares iso4217:GBP 05317627 2015-10-01 2016-09-30 05317627 2016-09-30 05317627 2015-09-30 05317627 2014-10-01 2015-09-30 05317627 2015-09-30 05317627 uk-gaap:OfficeEquipment 2015-10-01 2016-09-30 05317627 uk-bus:EntityAccountantsOrAuditors uk-bus:PrincipalAgent 2015-10-01 2016-09-30 05317627 uk-bus:OrdinaryShareClass1 2015-10-01 2016-09-30 05317627 uk-bus:OrdinaryShareClass2 2015-10-01 2016-09-30 05317627 uk-bus:Director1 2015-10-01 2016-09-30 05317627 uk-gaap:AllSubsidiaries 2015-10-01 2016-09-30 05317627 uk-gaap:AfterOneYear 2016-09-30 05317627 uk-gaap:AfterOneYear 2015-09-30 05317627 uk-bus:OrdinaryShareClass1 2016-09-30 05317627 uk-bus:OrdinaryShareClass1 2015-09-30 05317627 uk-bus:OrdinaryShareClass2 2016-09-30 05317627 uk-bus:OrdinaryShareClass2 2015-09-30 05317627 uk-lang:English 2015-10-01 2016-09-30 05317627 uk-curr:PoundSterling 2015-10-01 2016-09-30 05317627 uk-gaap:Subsidiary1 2015-10-01 2016-09-30
COMPANY REGISTRATION NUMBER 05317627
PEPPERCORN INVESTMENTS LIMITED
ABBREVIATED ACCOUNTS
30 September 2016
ELLIOT, WOOLFE & ROSE
Chartered Accountants
Equity House
128-136 High Street
Edgware
Middlesex
HA8 7TT
PEPPERCORN INVESTMENTS LIMITED
ABBREVIATED BALANCE SHEET
30 September 2016
2016
2015
Note
£
£
£
£
FIXED ASSETS
2
Tangible assets
3,561
3,936
Investments
11,604,532
9,728,104
---------------
-------------
11,608,093
9,732,040
CURRENT ASSETS
Debtors
128,256
157,500
Cash at bank and in hand
331,446
226,831
----------
----------
459,702
384,331
CREDITORS: Amounts falling due within one year
300,785
349,936
----------
----------
NET CURRENT ASSETS
158,917
34,395
---------------
-------------
TOTAL ASSETS LESS CURRENT LIABILITIES
11,767,010
9,766,435
CREDITORS: Amounts falling due after more than one year
3
6,646,751
5,966,402
PROVISIONS FOR LIABILITIES
1,165,247
967,147
---------------
-------------
3,955,012
2,832,886
---------------
-------------
CAPITAL AND RESERVES
Called up share capital
4
3,000,008
2,500,008
Revaluation reserve
864,858
331,931
Profit and loss account
90,146
947
-------------
-------------
SHAREHOLDERS' FUNDS
3,955,012
2,832,886
-------------
-------------
For the year ended 30 September 2016 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 1 June 2017 , 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 2016
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 January 2015).
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 2015
5,969
9,728,104
9,734,073
Additions
812
1,343,500
1,344,312
Revaluation
–
532,928
532,928
-------
---------------
---------------
At 30 September 2016
6,781
11,604,532
11,611,313
-------
---------------
---------------
DEPRECIATION
At 1 October 2015
2,033
–
2,033
Charge for year
1,187
–
1,187
-------
----
-------
At 30 September 2016
3,220
–
3,220
-------
----
-------
NET BOOK VALUE
At 30 September 2016
3,561
11,604,532
11,608,093
-------
---------------
---------------
At 30 September 2015
3,936
9,728,104
9,732,040
-------
---------------
---------------
Investment Properties Investment Properties owned at 30 September 2015 and at 30 September 2016 are valued 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:
2016
2015
£
£
Bank loans and overdrafts
4,050,000
3,100,000
-------------
-------------
4. SHARE CAPITAL
Allotted, called up and fully paid:
2016
2015
No.
£
No.
£
Ordinary shares of £ 0.50 each
16
8
16
8
Preference shares (2015 - 2,500,000) of £ 1 each
3,000,000
3,000,000
2,500,000
2,500,000
-------------
-------------
-------------
-------------
3,000,016
3,000,008
2,500,016
2,500,008
-------------
-------------
-------------
-------------
On 30 May 2017, the company issued further 2,500,000 £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.