Company Registration No. 11475448 (England and Wales)
Pen Cutting Holdings Limited
Unaudited accounts
for the year ended 31 December 2021
Pen Cutting Holdings Limited
Unaudited accounts
Contents
Pen Cutting Holdings Limited
Company Information
for the year ended 31 December 2021
Directors
Simon Jonathan Ling
Peter James Raybould
John Neville Whitfield
Company Number
11475448 (England and Wales)
Registered Office
Pen Cutting Tools Bold Street
Attercliffe
Sheffield
South Yorkshire
S9 2LR
England
Pen Cutting Holdings Limited
Statement of financial position
as at 31 December 2021
Investments
1,276,375
1,276,375
Cash at bank and in hand
708
708
Creditors: amounts falling due within one year
(403,749)
(91,700)
Net current liabilities
(403,041)
(90,992)
Total assets less current liabilities
873,334
1,185,383
Creditors: amounts falling due after more than one year
(419,800)
(731,849)
Net assets
453,534
453,534
Called up share capital
3,300
3,300
Profit and loss account
450,234
450,234
Shareholders' funds
453,534
453,534
For the year ending 31 December 2021 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2022 and were signed on its behalf by
Simon Jonathan Ling
Director
Company Registration No. 11475448
Pen Cutting Holdings Limited
Notes to the Accounts
for the year ended 31 December 2021
Pen Cutting Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 11475448. The registered office is Pen Cutting Tools Bold Street, Attercliffe, Sheffield, South Yorkshire, S9 2LR, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Investments in shares represent subsidiary holdings, and the directors have chosen to show those investments at cost.
4
Investments
Subsidiary undertakings
Valuation at 1 January 2021
1,276,375
Valuation at 31 December 2021
1,276,375
5
Creditors: amounts falling due within one year
2021
2020
Amounts owed to group undertakings and other participating interests
332,373
-
Loans from directors
71,376
79,200
6
Creditors: amounts falling due after more than one year
2021
2020
Amounts owed to group undertakings and other participating interests
419,800
660,473
Loans from directors
-
71,376
Pen Cutting Holdings Limited
Notes to the Accounts
for the year ended 31 December 2021
7
Transactions with related parties
The company is part of a group. At the balance sheet date, the company owed its subsidiary (Pen Cutting Tools Ltd) £332,373 (2020: £240,673). There were no terms for repayment and no interest charged.
At the balance sheet date, the company owed its parent undertaking (Threesixty Holdco 2 Ltd) £419,800 (2020: £419,800). There were no terms for repayment, and no interest charged.
At the balance sheet date, the company owed £71,376 (2020: £150,576) to its existing directors (under future repayment terms of £6,600 per month, with no interest charged).
At the balance sheet date, the company owed £Nil (2020: £12,500) to Threesixty Investments Ltd, a company owned by the directors.
The company's parent undertaking is Threesixty Holdco 2 Limited, a company registered in the United Kingdom. Its registered office address and principal place of business is Pen Cutting Tools, Bold Street, Attercliffe, Sheffield, South Yorkshire, S9 2LR.
9
Average number of employees
During the year the average number of employees was 3 (2020: 3).