Peak Performance Tax Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC286855 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

Peak Performance Tax Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

D Gill

REGISTERED OFFICE:

c/o Campbell Dallas LLP

4 Atholl Crescent

Perth

Perthshire

PH1 5NG

REGISTERED NUMBER:

SC286855 (Scotland)

ACCOUNTANTS:

David Gill & Co

Business Development Centre

Elizabeth House

1c Barclay Court

Kirkcaldy

Fife

KY1 3WE

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

434

434

Investments

4

201

201

635

635

CURRENT ASSETS

Debtors

276,657

1,002,064

Cash at bank

349

116,867

277,006

1,118,931

CREDITORS

Amounts falling due within one year

4,814

341,938

NET CURRENT ASSETS

272,192

776,993

TOTAL ASSETS LESS CURRENT LIABILITIES

272,827

777,628

CAPITAL AND RESERVES

Called up share capital

5

200

200

Profit and loss account

272,627

777,428

SHAREHOLDERS' FUNDS

272,827

777,628

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 27 July 2016 and were signed by:

D Gill - Director

1.	ACCOUNTING POLICIES

Accounting convention

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

Preparation of consolidated financial statements

The financial statements contain information about Peak Performance Tax Limited as an individual company and

do not contain consolidated financial information as the parent of a group. The company is exempt under Section

402/405 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as its

subsidiary undertaking is not material for the purpose of giving a true and fair view.

Financial reporting standard number 1

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover is stated net of VAT and trade discounts. Turnover from the supply of services represents the value of

services provided to the extent that there is a right to consideration and is recorded at the value of the

consideration due.

Intangible fixed assets

The cost of licences are amortised at rates designed to write off the value evenly over the licence period.

Tangible fixed assets

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

Computer equipment

-

33% on cost

Deferred tax

Deferred tax is provided at the average rates that are expected to apply when the timing differences reverse,

based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the

revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are

not discounted.

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.

Employee benefit trusts (ebts)

The company has established and purchased trusts for the benefit of employees and certain of their dependants.

Monies held in these trusts are held by independent trustees and managed at their discretion.

Where the company retains future economic benefit from, and has de facto control of the assets and liabilities of

the trust, they are accounted for as assets and liabilities of the company until the earlier of the date that an

allocation of trust funds to employees in respect of past services is declared and the date that assets of the trust

vest in identified individuals.

Where monies held in a trust are determined by the company on the basis of employees' past service to the

business and the company can obtain no future economic benefit from those monies, such monies, whether in

trust or accrued for by the company are charged to the profit and loss account in the period to which they relate.

Employer financed retirement benefit scheme (efrbs)

The company has established trusts for the benefit of employees and persons connected with them. Monies held

in these trusts are held by independent trustees and managed at their discretion. The trustees are empowered to

provide both retirement and other employee benefits.

Where the company retains future economic benefit from, and has de facto control of the assets and liabilities of

the trust, they are accounted for as assets and liabilities of the company until the earlier of the date that an

allocation of trust funds to employees in respect of past services is declared and the date that assets of the trust

vest in identified individuals.

Where monies held in a trust are determined by the company on the basis of employees' past services to the

business and the company can obtain no future economic benefit from those monies, such monies, whether in the

trust or accrued for by the company are charged to the profit and loss account in the period to which they relate.

Where monies held in a trust are determined by the company on the basis of employees' past services to the

business and are payable after completion of the employment, such monies are charged to the profit and loss

account in the period during which services are rendered by employees.

Investments in subsidiary undertakings

Investments in subsidiary undertakings are stated at cost less any provisions for impairment in value.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

385,000

AMORTISATION

At 1 January 2015

and 31 December 2015

385,000

NET BOOK VALUE

At 31 December 2015

-

At 31 December 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

3,101

DEPRECIATION

At 1 January 2015

and 31 December 2015

2,667

NET BOOK VALUE

At 31 December 2015

434

At 31 December 2014

434

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2015

and 31 December 2015

201

NET BOOK VALUE

At 31 December 2015

201

At 31 December 2014

201

The company's investments at the Balance Sheet date in the share capital of companies include the following:

I Know What I Like Limited

Nature of business: Dormant

%

Class of shares:

holding

A Ordinary Shares

100.00

31.12.15

31.12.14

£

£

Aggregate capital and reserves

-

201

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

£

100

Ordinary

£1

100

100

1

"S" Ordinary

£100

100

100

200

200