Peach Digital Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC205024 (Scotland)

Unaudited Financial Statements

for the Period 1 April 2016 to 31 December 2016

for

Peach Digital Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M B Rose

J Marcel

C Slamani

REGISTERED OFFICE:

134-138 West Regent Street

Glasgow

G2 2RQ

REGISTERED NUMBER:

SC205024 (Scotland)

ACCOUNTANTS:

Campbell Dallas Limited

Accountants

Titanium 1

King's Inch Place

Renfrew

PA4 8WF

FIXED ASSETS

Intangible assets

5

147,558

110,839

Tangible assets

6

24,653

23,207

172,211

134,046

CURRENT ASSETS

Debtors

7

460,024

472,006

Cash at bank and in hand

6,711

1,673

466,735

473,679

CREDITORS

Amounts falling due within one year

8

632,023

547,603

NET CURRENT LIABILITIES

(165,288

)

(73,924

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,923

60,122

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

6,823

60,022

SHAREHOLDERS' FUNDS

6,923

60,122

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2016 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 26 March 2018 and were signed on its behalf by:

M B Rose - Director

1.	STATUTORY INFORMATION

Peach Digital Limited is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

Monetary amounts in these financial statements are rounded to the nearest £.

The company year end has changed from 31 March to 31 December to bring it in line with the new

parent company. The current period shows the results for 9 months versus the 12 months shown in the

comparative figures.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The company has transitioned to FRS 102 from previously extant UK GAAP as at 1 April 2015. The

reported financial position and financial performance for the previous period are not affected by the

transition to FRS 102.

Turnover

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

discounts, rebates, value added tax and other sales taxes.

Intangible 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.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Taxation

Taxation for the period 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

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.

Work in progress

Work in progress is valued at the lower of cost and net realisable value and is included within other

debtors.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 31 (2016 - 34 ) .

5.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 April 2016

123,154

Additions

49,682

At 31 December 2016

172,836

AMORTISATION

At 1 April 2016

12,315

Amortisation for period

12,963

At 31 December 2016

25,278

NET BOOK VALUE

At 31 December 2016

147,558

At 31 March 2016

110,839

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2016

97,236

57,483

35,831

190,550

Additions

3,958

158

2,964

7,080

At 31 December 2016

101,194

57,641

38,795

197,630

DEPRECIATION

At 1 April 2016

89,132

48,563

29,648

167,343

Charge for period

2,856

1,399

1,379

5,634

At 31 December 2016

91,988

49,962

31,027

172,977

NET BOOK VALUE

At 31 December 2016

9,206

7,679

7,768

24,653

At 31 March 2016

8,104

8,920

6,183

23,207

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2016

£

£

Trade debtors

201,263

219,948

Other debtors

258,761

252,058

460,024

472,006

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2016

£

£

Bank loans and overdrafts

231,224

169,211

Trade creditors

43,615

39,705

Social security and other taxes

44,902

117,061

VAT

101,324

120,877

Other creditors

11,769

-

Directors' loan accounts

151,466

86,019

Accruals and deferred income

47,723

14,730

632,023

547,603

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2016

2016

£

£

Within one year

74,393

74,393

Between one and five years

129,565

185,359

203,958

259,752

10.	SECURED DEBTS

The following secured debts are included within creditors:

2016

2016

£

£

Bank loans

231,224

169,211

MarketInvoice Limited hold a floating charge over the assets of the company.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2016

value:

£

£

100

Ordinary

£1

100

100

12.	RELATED PARTY DISCLOSURES

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Fimalac SA.

14.	FIRST YEAR ADOPTION

For all periods up to and including the year ended 31 March 2016 the company prepared its financial

statements in accordance with previously extant United Kingdom Generally Accepted Accounting

Practice (UK GAAP). These financial statements, for the period ended 31 December 2016, are the

first period the company has prepared in accordance with FRS 102.

In preparing these financial statements, the company started from an opening balance sheet at the

company's date of transition to FRS 102, and made those changes in accounting policies and other

restatements required for the first-time adoption of FRS 102. There has been no material impact to the

company's financial position, results or cashflows as a result of restating its financial statements.