Peacock Property Management Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07671346 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2017

for

PEACOCK PROPERTY MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D A J Peacock

Mrs A G Peacock

Mr S D Peacock

Mr J Peacock

REGISTERED OFFICE:

43 Hallam Road

Clevedon

North Somerset

BS21 7SE

REGISTERED NUMBER:

07671346 (England and Wales)

ACCOUNTANTS:

Haines Watts Partnership (Bristol) Limited

Bath House

6-8 Bath Street

Bristol

BS1 6HL

FIXED ASSETS

Investment property

4

1,328,333

960,605

CURRENT ASSETS

Debtors

5

246,141

274,744

Cash at bank

11,563

6,105

257,704

280,849

CREDITORS

Amounts falling due within one year

6

738,508

756,090

NET CURRENT LIABILITIES

(480,804

)

(475,241

)

TOTAL ASSETS LESS CURRENT LIABILITIES

847,529

485,364

CREDITORS

Amounts falling due after more than one year

7

467,500

467,500

NET ASSETS

380,029

17,864

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

379,029

16,864

380,029

17,864

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors on 29 January 2018 and were signed on its behalf by:

Mr D A J Peacock - Director

1.	STATUTORY 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.

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.

Transition to FRS 102 Section 1A

These financial statements for the year ended 30 June 2017 are the first financial statements that comply with

FRS 102 Section 1A small entities. The date of transition is 1 July 2015.

The transition to FRS 102 Section 1A small entities has not resulted in any changes in accounting policies to

those used previously.

Therefore, there was no impact on opening equity and profit for the comparative period.

Turnover

Turnover represents the total invoice value, excluding value added tax, of rents received during the year ended

30 June 2017.

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.

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 4 .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2016

960,605

Revaluations

367,728

At 30 June 2017

1,328,333

NET BOOK VALUE

At 30 June 2017

1,328,333

At 30 June 2016

960,605

Fair value at 30 June 2017 is represented by:

£

Valuation in 0

367,728

Cost

960,605

1,328,333

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by associates

244,891

274,369

Other debtors

875

-

Tax

375

375

246,141

274,744

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other creditors

875

-

Directors' current accounts

729,300

726,645

Accrued expenses

8,333

29,445

738,508

756,090

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans - 2-5 years

467,500

467,500

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

467,500

467,500

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

investment properties.

9.	RELATED PARTY DISCLOSURES

Included in the creditor due within one year was an interest-free loan owed to one of its directors amounting to

£102,652.