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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
Page
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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
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Pen Cutting Holdings Limited Statement of financial position as at 31 December 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Investments
1,276,375 
1,276,375 
Current assets
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 
Capital and reserves
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
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Pen Cutting Holdings Limited Notes to the Accounts for the year ended 31 December 2021
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Investments
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 
- 
Other creditors
- 
12,500 
Loans from directors
71,376 
79,200 
403,749 
91,700 
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 
419,800 
731,849 
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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.
8
Controlling party
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).
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