Peak Health Distribution Limited - Accounts to registrar - small 17.2
Peak Health Distribution Limited - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| Peak Health Distribution Limited |
| Financial Statements for the Year Ended 31st March 2017 |
| Peak Health Distribution Limited (Registered number: 04708785) |
| Contents of the Financial Statements |
| for the year ended 31st March 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Peak Health Distribution Limited |
| Company Information |
| for the year ended 31st March 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Regent's Court |
| Princess Street |
| Hull |
| East Yorkshire |
| HU2 8BA |
| Peak Health Distribution Limited (Registered number: 04708785) |
| Balance Sheet |
| 31st March 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| Investment property | 7 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Peak Health Distribution Limited (Registered number: 04708785) |
| Balance Sheet - continued |
| 31st March 2017 |
| 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 on its behalf by: |
| Peak Health Distribution Limited (Registered number: 04708785) |
| Notes to the Financial Statements |
| for the year ended 31st March 2017 |
| 1. | STATUTORY INFORMATION |
| Peak Health Distribution Limited is a |
| 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 |
| The financial statements have been prepared in accordance with the provisions of Section 1A "Small |
| Entities" of applicable accounting standards including Financial Reporting Standard 102 "The Financial |
| Reporting Standard Applicable in the UK and Republic of Ireland" and the Companies Act 2006. The |
| financial statements have been prepared under the historical cost convention. |
| The significant accounting policies applied in the preparation of these financial statements are set out |
| below. These policies have been consistently applied to all years presented unless otherwise stated. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade |
| discounts. The policies adopted for the recognition of turnover are as follows: |
| Turnover from the supply and distribution of health supplements is recognised when significant risks |
| and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be |
| measured reliably, it is probable that the economic benefits associated with the transaction will flow to |
| the company and the costs incurred or to be incurred in respect of the transaction can be measured |
| reliably. |
| Goodwill |
| Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet |
| and amortised on a stright line basis over its useful life. The period chosen for writing off goodwill was |
| 10 years and provisions are made for any impairment following annual reviews. |
| Intangible fixed assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured |
| at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment |
| losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less |
| estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
| Plant and machinery | 15% - 25% on cost |
| Motor vehicles | 25% on cost |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Investment property |
| Investment properties for which fair value can be measured reliably without undue cost or effort are |
| measured at fair value at each reporting date with changes in fair value recognised in the statement of |
| comprehensive income. |
| Stocks |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost |
| includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its |
| present location and condition. Cost is calculated using the first-in, first-out formula. Provision is |
| made for damaged, obsolete and slow-moving stock where appropriate. |
| Peak Health Distribution Limited (Registered number: 04708785) |
| Notes to the Financial Statements - continued |
| for the year ended 31st March 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Foreign currencies |
| Foreign currency transactions are initially recognised by applying to the foreign currency amount the |
| spot exchange rate between the functional currency and the foreign currency at the date of the |
| transaction. |
| Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are |
| translated using the closing rate |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
| Those held under hire purchase contracts are depreciated over their estimated useful lives or the lease |
| term, whichever is the shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant |
| period. The capital element of the future payment is treated as a liability. |
| Rentals payable and receivable under operating leases are charged to the profit and loss account on a |
| straight line basis over the period of the lease. |
| Debtors and creditors |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are |
| recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss |
| account in other administrative expenses. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Peak Health Distribution Limited (Registered number: 04708785) |
| Notes to the Financial Statements - continued |
| for the year ended 31st March 2017 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1st April 2016 |
| and 31st March 2017 |
| AMORTISATION |
| At 1st April 2016 |
| and 31st March 2017 |
| NET BOOK VALUE |
| At 31st March 2017 |
| At 31st March 2016 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1st April 2016 |
| Additions |
| At 31st March 2017 |
| DEPRECIATION |
| At 1st April 2016 |
| Charge for year |
| At 31st March 2017 |
| NET BOOK VALUE |
| At 31st March 2017 |
| At 31st March 2016 |
| The cost of assets held that are used for renting out under operating leases are £146,858 (2016 |
| £146,858) and the accumulated depreciation is £97,906 (2016 £68,534). |
| 6. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| Additions |
| At 31st March 2017 |
| NET BOOK VALUE |
| At 31st March 2017 |
| Peak Health Distribution Limited (Registered number: 04708785) |
| Notes to the Financial Statements - continued |
| for the year ended 31st March 2017 |
| 6. | FIXED ASSET INVESTMENTS - continued |
| The company's investments at the Balance Sheet date in the share capital of companies include the |
| following: |
| Associated company |
| Registered office: Northern Ireland |
| Nature of business: |
| % |
| Class of shares: | holding |
| During the year, the company acquired a 25% interest in Primal Strength Limited for £75,000. |
| After the year end, the company increased its shareholding to 35% at an additional cost of £100,000. |
| 7. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST |
| At 1st April 2016 |
| Disposals | ( |
) |
| At 31st March 2017 |
| NET BOOK VALUE |
| At 31st March 2017 |
| At 31st March 2016 |
| Investment properties for which fair value can be measured reliably without undue cost or effort are |
| measured at fair value at each reporting date with changes in fair value recognised in the statement of |
| comprehensive income. |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Peak Health Distribution Limited (Registered number: 04708785) |
| Notes to the Financial Statements - continued |
| for the year ended 31st March 2017 |
| 10. | RELATED PARTY DISCLOSURES |
| PHD-Commerce Limited |
| During the year expenses were re-charged from Peak Health Distribution Limited to PHD-Commerce |
| Limited, a company in which M Bowering is a director, totalling £nil (2016 £9,133). Expenses were also |
| re-charged from PHD-Commerce Limited to Peak Health Distribution Limited, totalling £9,850 (2016 |
| £47,695). |
| 2017 | 2016 |
| £ | £ |
| Amount due to related party at balance sheet date | - | - |
| Synergy Properties Limited |
| During the year rent was paid to Synergy Properties Limited, a company controlled by M Bowering, |
| totalling £45,000 (2016 £45,000). |
| 2017 | 2016 |
| £ | £ |
| Amount due to related party at balance sheet date | - | - |
| Peak Physique H & F Limited |
| During the year sales were made from Peak Health Distribution Limited to Peak Physique H & F |
| Limited, a company in which M Bowering's close family members, T Bowering and L Bowering, are |
| directors, totalling £833 (2016 £785). |
| 2017 | 2016 |
| £ | £ |
| Amount due from related party at balance sheet date | - | 2,113 |
| Monster Supplements Franchise Limited |
| During the year expenses were re-charged from Peak Health Distribution Limited to Monster |
| Supplements Franchise Limited, a company in which M Bowering is a director, totalling £130,774 |
| (2016 £192,993). |
| 2017 | 2016 |
| £ | £ |
| Amount due from related party at balance sheet date | 17,555 | 29,099 |
| The Village Gym Limited |
| During the year expenses were re-charged from Peak Health Distribution Limited to The Village Gym |
| Limited, a company in which M Bowering is a director, totalling £40,865 (2016 £36,296). |
| 2017 | 2016 |
| £ | £ |
| Amount due from related party at balance sheet date | 3,523 | 3,476 |
| Peak Health Distribution Limited (Registered number: 04708785) |
| Notes to the Financial Statements - continued |
| for the year ended 31st March 2017 |
| Aivilo Properties Limited |
| During the year sale of assets were made from Peak Health Distribution Limited to Aivilo Properties |
| Limited, a company controlled by M Bowering, totalling £150,000 (2016 £nil). |
| 2017 | 2016 |
| £ | £ |
| Amount due from related party at balance sheet date | - | - |
| Primal Strength Limited |
| During the year sales were made from Peak Health Distribution Limited to Primal Strength Limited, a |
| company in which Peak Health Distribution Limited own 25%, totalling £8,049 (2016 £nil). Purchases |
| were also made by Peak Health Distribution Limited from Primal Strength Limited, totalling £1,515 |
| (2016 £nil). |
| 2017 | 2016 |
| £ | £ |
| Amount due from related party at balance sheet date | 235 | - |
| 11. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Mrs K Bowering. |