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REGISTERED NUMBER: 06725320 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

PENMAN CONSULTING LIMITED

PENMAN CONSULTING LIMITED (REGISTERED NUMBER: 06725320)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PENMAN CONSULTING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: M G Penman
S Penman





SECRETARY: S Penman





REGISTERED OFFICE: Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ





REGISTERED NUMBER: 06725320 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

PENMAN CONSULTING LIMITED (REGISTERED NUMBER: 06725320)

BALANCE SHEET
31 DECEMBER 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 78,203 100,964
Investments 5 876,212 874,500
954,415 975,464

CURRENT ASSETS
Debtors 6 1,283,977 923,869
Cash at bank and in hand 1,289,051 1,355,911
2,573,028 2,279,780
CREDITORS
Amounts falling due within one year 7 629,087 408,796
NET CURRENT ASSETS 1,943,941 1,870,984
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,898,356

2,846,448

PROVISIONS FOR LIABILITIES 19,551 19,183
NET ASSETS 2,878,805 2,827,265

CAPITAL AND RESERVES
Called up share capital 8 250,000 250,000
Retained earnings 2,628,805 2,577,265
SHAREHOLDERS' FUNDS 2,878,805 2,827,265

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

PENMAN CONSULTING LIMITED (REGISTERED NUMBER: 06725320)

BALANCE SHEET - continued
31 DECEMBER 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 July 2022 and were signed on its behalf by:





M G Penman - Director


PENMAN CONSULTING LIMITED (REGISTERED NUMBER: 06725320)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1. STATUTORY INFORMATION

Penman Consulting Limited is a private company, limited by shares , registered in England and Wales. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sale of services being consultancy and product stewardship, excluding value added tax.

Revenue is calculated on a time spent or contract basis and invoiced at the stage of completion, with accrued income adjusted as necessary.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - over the lease term
Fixtures & equipment - 15% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

PENMAN CONSULTING LIMITED (REGISTERED NUMBER: 06725320)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

2. ACCOUNTING POLICIES - continued

Investments
Fixed asset investments in subsidiaries are stated at cost less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2020 - 26 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2021 261,395
Additions 24,500
At 31 December 2021 285,895
DEPRECIATION
At 1 January 2021 160,431
Charge for year 47,261
At 31 December 2021 207,692
NET BOOK VALUE
At 31 December 2021 78,203
At 31 December 2020 100,964

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2021 874,500
Additions 1,712
At 31 December 2021 876,212
NET BOOK VALUE
At 31 December 2021 876,212
At 31 December 2020 874,500

PENMAN CONSULTING LIMITED (REGISTERED NUMBER: 06725320)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

5. FIXED ASSET INVESTMENTS - continued

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

Penman Consultancy BVBA
Registered office: Avenue des Arts 10,1210 Brussels, Belgium
Nature of business: Consultants
%
Class of shares: holding
Ordinary 100.00
31.12.21
£   
Aggregate capital and reserves 691,556
Profit for the year 95,862

Active Steward Limited
Registered office: Medina House, 2 Station Avenue, Bridlington, YO16 4LZ, United Kingdom
Nature of business: Software
%
Class of shares: holding
Ordinary 100.00
31.12.21 31.12.20
£    £   
Aggregate capital and reserves 479,578 291,462
Profit for the year 188,116 144,177

During the year, the company acquired a 100% interest in Penman NL NV.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 203,368 301,519
Amounts owed by group undertakings 976,591 563,363
Other debtors 104,018 58,987
1,283,977 923,869

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade creditors 79,442 20,451
Amounts owed to group undertakings 29,460 34,308
Taxation and social security 54,368 207,457
Other creditors 465,817 146,580
629,087 408,796

PENMAN CONSULTING LIMITED (REGISTERED NUMBER: 06725320)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.21 31.12.20
value: £    £   
94,995 Ordinary A £1 94,995 95,000
(31.12.20 -
95,000 )
94,995 Ordinary B £1 94,995 95,000
(31.12.20 -
95,000 )
10,000 Ordinary C £1 10,000 10,000
10,000 Ordinary D £1 10,000 10,000
20,000 Ordinary E £1 20,000 20,000
20,000 Ordinary F £1 20,000 20,000
10 Ordinary G £1 10 -
250,000 250,000