Abbreviated Company Accounts - PEERLESS HOLDINGS LIMITED

PEERLESS HOLDINGS LIMITED - Company Information

Registered Number 01991188

PEERLESS HOLDINGS LIMITED

Abbreviated Accounts

31 March 2014

PEERLESS HOLDINGS LIMITED Registered Number 01991188

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	928,736	674,537
		928,736	674,537
Current assets
Debtors		11,494	10,909
Cash at bank and in hand		301,935	540,721
		313,429	551,630
Creditors: amounts falling due within one year		(33,404)	(25,279)
Net current assets (liabilities)		280,025	526,351
Total assets less current liabilities		1,208,761	1,200,888
Total net assets (liabilities)		1,208,761	1,200,888
Capital and reserves
Called up share capital		100	100
Revaluation reserve		347,269	347,269
Profit and loss account		861,392	853,519
Shareholders' funds		1,208,761	1,200,888

For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 7 August 2014

And signed on their behalf by:
AP Holloway, Director

PEERLESS HOLDINGS LIMITED Registered Number 01991188

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents rental income receivable

Tangible assets depreciation policy
In accordance with the Financial Reporting Standard for Smaller Entities, certain of the company's properties are held for long-term investment and are included in the Balance Sheet at their open market values. The surplus(es) or deficit(s) on/annual/revaluation of such properties are transferred to the investment property revaluation reserve. Depreciation is not provided in respect of freehold investment properties. Leasehold investment properties are not amortised where the unexpired term is over twenty years.
This policy is a departure from the requirements of the Companies Act 2006 which require all properties to be depreciated. Such properties are not held for consumption but for investment and the director considers that to depreciate them would not give a true and fair view.

2Tangible fixed assets

	£
Cost
At 1 April 2013	674,537
Additions	254,199
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	928,736
Depreciation
At 1 April 2013	-
Charge for the year	-
On disposals	-
At 31 March 2014	-
Net book values
At 31 March 2014	928,736
At 31 March 2013	674,537