Peak Performance Tax Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: SC286855 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

Peak Performance Tax Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G Berry

REGISTERED OFFICE:

Elizabeth House

Barclay Court

Carberry Road

Kirkcaldy

Fife

KY1 3WE

REGISTERED NUMBER:

SC286855 (Scotland)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

434

434

Investments

6

201

201

635

635

CURRENT ASSETS

Debtors

7

147,991

276,657

Cash at bank

1,149

349

149,140

277,006

CREDITORS

Amounts falling due within one year

8

4,814

4,814

NET CURRENT ASSETS

144,326

272,192

TOTAL ASSETS LESS CURRENT LIABILITIES

144,961

272,827

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

144,761

272,627

SHAREHOLDERS' FUNDS

144,961

272,827

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 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 director on 10 September 2017 and were signed by:

G Berry - Director

1.	STATUTORY INFORMATION

Peak Performance Tax 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. 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.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

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

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year 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 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 year 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 January 2016

and 31 December 2016

385,000

AMORTISATION

At 1 January 2016

and 31 December 2016

385,000

NET BOOK VALUE

At 31 December 2016

-

At 31 December 2015

-

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2016

and 31 December 2016

3,101

DEPRECIATION

At 1 January 2016

and 31 December 2016

2,667

NET BOOK VALUE

At 31 December 2016

434

At 31 December 2015

434

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2016

and 31 December 2016

201

NET BOOK VALUE

At 31 December 2016

201

At 31 December 2015

201

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Amounts owed by group undertakings

141,202

-

Other debtors

6,789

276,657

147,991

276,657

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

3,474

3,474

Other creditors

1,340

1,340

4,814

4,814

9.	CONTINGENT LIABILITIES

The company has appointed assets to an Employer Financed Retirement Benefit Scheme. The company is liable

for PAYE/NIC that may arise on awards made by the Trustees. The Directors are of the opinion that the Trustees

will award most of the benefits in a way that will not result in a PAYE/NIC liability.

10.	RELATED PARTY DISCLOSURES