Peak Trust Limited - Abbreviated accounts 16.1

PEAK TRUST LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr J S Thorpe

Mr N D Thorpe

REGISTERED OFFICE:

Oakhurst House

57 Ashbourne Road

Derby

Derbyshire

DE22 3FS

REGISTERED NUMBER:

00981026

ACCOUNTANTS:

Sibbalds Limited

Chartered Accountants and Business Advisers

Oakhurst House

57 Ashbourne Road

Derby

Derbyshire

DE22 3FS

BANKERS:

National Westminster Bank plc

PO Box 282

7 Market Place

Derby

DE1 9DS

FIXED ASSETS

Tangible assets

2

139

218

Investment property

3

1,741,250

1,741,389

1,741,468

CURRENT ASSETS

Debtors

47,900

16,516

Cash at bank

627,704

1,517,688

675,604

1,534,204

CREDITORS

Amounts falling due within one year

104,485

154,015

NET CURRENT ASSETS

571,119

1,380,189

TOTAL ASSETS LESS CURRENT LIABILITIES

2,312,508

3,121,657

CAPITAL AND RESERVES

Called up share capital

4

7,023

Share premium

318,176

Revaluation reserve

770,535

Capital redemption reserve

45,386

Profit and loss account

1,171,388

1,980,537

SHAREHOLDERS' FUNDS

2,312,508

3,121,657

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 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 Board of Directors on 7 October 2016 and were signed on its behalf by:

Mr J S Thorpe - Director

Mr N D Thorpe - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation of

certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net rental income receivable, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

9,716

DEPRECIATION

At 1 June 2015

9,498

Charge for year

79

At 31 May 2016

9,577

NET BOOK VALUE

At 31 May 2016

139

At 31 May 2015

218

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 June 2015

and 31 May 2016

1,741,250

NET BOOK VALUE

At 31 May 2016

1,741,250

At 31 May 2015

1,741,250

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

7,023

Ordinary

£1

7,023