Peter Properties Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07788084 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

PETER PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R R Shah MSc FRICS

SECRETARY:

N Thanki

REGISTERED OFFICE:

55a Welbeck Street

London

W1G 9XQ

REGISTERED NUMBER:

07788084 (England and Wales)

ACCOUNTANTS:

Arithma LLP

Chartered Certified Accountants

9 Mansfield Street

London

W1G 9NY

FIXED ASSETS

Investments

3

1,120,551

807,403

CURRENT ASSETS

Debtors

4

2,576,343

345,359

Cash at bank

153,392

274,468

2,729,735

619,827

CREDITORS

Amounts falling due within one year

5

4,100,816

1,402,498

NET CURRENT LIABILITIES

(1,371,081

)

(782,671

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(250,530

)

24,732

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(250,630

)

24,632

SHAREHOLDERS' FUNDS

(250,530

)

24,732

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 27 September 2017 and were signed by:

R R Shah MSc FRICS - Director

1.	STATUTORY INFORMATION

Peter Properties 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

FOREIGN CURRENCIES

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

FIXED ASSET INVESTMENTS

Investments held as fixed assets are stated at cost less any provisions for impairment. Investments

are reviewed for impairment if events or changes in circumstances indicate that the carrying amount

may not be recoverable. Impairments are calculated such that the carrying value of the fixed asset

investment is the lower of its cost or recoverable amount. Recoverable amount is the higher of its net

realisable value and its value-in-use.

GOING CONCERN

At the balance sheet date, the company had net liabilities of £250,530. The validity of the going

concern concept is dependent on the continued support of the shareholder.

3.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2016

807,403

Additions

321,041

Impairments

(7,893

)

At 31 December 2016

1,120,551

NET BOOK VALUE

At 31 December 2016

1,120,551

At 31 December 2015

807,403

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Amounts owed by group undertakings

222,252

-

Other debtors

2,354,091

345,359

2,576,343

345,359

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Amounts owed to group undertakings

1,809,543

1,334,734

Taxation and social security

-

6,600

Other creditors

2,291,273

61,164

4,100,816

1,402,498

6.	ULTIMATE CONTROLLING PARTY

The controlling party is Saffron Capital Limited.

The ultimate controlling party is Mr R R Shah.

7.	FIRST YEAR ADOPTION

These are the first financial statements that comply with Section 1A of FRS 102. The company

transitioned to FRS 102 on 1 January 2015.

Reconciliation of equity

No transitional adjustments were required.

Reconciliation of profit or loss for the year

No transitional adjustments were required.

The company has adopted FRS 102 for the year ended 31 December 2016 for the first time. No

restatement of prior year profit under UK GAAP, nor restatement of equity under UK GAAP was

required.

TRANSITIONAL RELIEF

On transition to FRS 102, the company has taken advantage of the following transitional relief:

•

to measure investment in subsidiaries, associates and joint ventures at cost determined in accordance with deemed cost;