PECKHAM HILL LIMITED Company Accounts

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COMPANY REGISTRATION NUMBER: 09508725

PECKHAM HILL LIMITED

Filleted Unaudited Financial Statements

31 March 2017

PECKHAM HILL LIMITED

Financial Statements

Year ended 31 March 2017

Contents	Page

Statement of financial position	1

Statement of changes in equity	3

Notes to the financial statements	4

PECKHAM HILL LIMITED

Statement of Financial Position

31 March 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	4		1,980,036	–

Current assets

Debtors	5	542,106	–
Cash at bank and in hand		15,359	7,001
		---------	-------
		557,465	7,001

Creditors: amounts falling due within one year	6	1,170,699		7,000
		------------		-------
Net current (liabilities)/assets			( 613,234)	1
			------------	----
Total assets less current liabilities			1,366,802	1

Creditors: amounts falling due after more than one year	7	1,399,915	–
		------------	----
Net (liabilities)/assets		( 33,113)	1
		------------	----

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 33,114)	–
	--------	----
Shareholders (deficit)/funds	( 33,113)	1
	--------	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

PECKHAM HILL LIMITED

Statement of Financial Position (continued)

31 March 2017

These financial statements were approved by the board of directors and authorised for issue on 22 June 2018 , and are signed on behalf of the board by:

Mrs H Iwanier
Director

Company registration number: 09508725

PECKHAM HILL LIMITED

Statement of Changes in Equity

Year ended 31 March 2017

	Called up share capital	Profit and loss account	Total
	£	£	£
At 25 March 2015	–	–	–

Profit for the year		–	–

Issue of shares	1	–	1
	----	----	----
Total investments by and distributions to owners	1	–	1

At 31 March 2016	1	–	1

Loss for the year		( 33,114)	( 33,114)
	----	--------	--------
Total comprehensive income for the year	–	( 33,114)	( 33,114)

	----	--------	--------
At 31 March 2017	1	( 33,114)	( 33,113)
	----	--------	--------

PECKHAM HILL LIMITED

Notes to the Financial Statements

Year ended 31 March 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 18 Armitage Road, London, NW11 8RA.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 25 March 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable in relation to rental income.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Tangible assets

	Land and buildings
	£
Cost
At 1 April 2016	–
Additions	1,980,036
	------------
At 31 March 2017	1,980,036
	------------
Depreciation
At 1 April 2016 and 31 March 2017	–
	------------
Carrying amount
At 31 March 2017	1,980,036
	------------
At 31 March 2016	–
	------------

Included within the above is investment property as follows:

	£
At 1 April 2016	–
Additions	1,980,036
	------------
At 31 March 2017	1,980,036
	------------

The investment properties were valued by the directors as at 31 March 2017 having considered the open market value of the properties. No independent valuation was undertaken.

5. Debtors

	2017	2016
	£	£
Trade debtors	( 1,894)	–
Amounts owed by group undertakings and undertakings in which the company has a participating interest	544,000	–
	---------	----
	542,106	–
	---------	----

6. Creditors: amounts falling due within one year

	2017	2016
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,163,971	7,000
Other creditors	6,728	–
	------------	-------
	1,170,699	7,000
	------------	-------

7. Creditors: amounts falling due after more than one year

	2017	2016
	£	£
Bank loans and overdrafts	1,399,915	–
	------------	----

8. Related party transactions

The company was under the control of Mrs H Iwanier throughout the period. Mrs H Iwanier is the managing director and shareholder.

9. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 25 March 2015.

No transitional adjustments were required in equity or profit or loss for the period.