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Registration number: 12042486

PNPW Enterprises Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

PNPW Enterprises Limited

(Registration number: 12042486)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

426

Investment property

5

352,000

352,000

 

352,000

352,426

Current assets

 

Debtors

6

4,144

3,312

Cash at bank and in hand

 

8,473

3,655

 

12,617

6,967

Creditors: Amounts falling due within one year

7

(494,737)

(495,357)

Net current liabilities

 

(482,120)

(488,390)

Net liabilities

 

(130,120)

(135,964)

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

(130,122)

(135,966)

Shareholders' deficit

 

(130,120)

(135,964)

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

PNPW Enterprises Limited

(Registration number: 12042486)
Balance Sheet as at 30 June 2023 (continued)

Approved and authorised by the Board on 9 October 2023 and signed on its behalf by:
 

Mr P D Penton
Director

   
     
 

PNPW Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
North Barn
Sloe Lane
Micheldever
Hampshire
SO21 3DA

These financial statements were authorised for issue by the Board on 9 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

 

PNPW Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computers

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

PNPW Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

PNPW Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

4

Tangible assets

Plant and machinery etc
£

Cost or valuation

At 1 July 2022

1,708

At 30 June 2023

1,708

Depreciation

At 1 July 2022

1,282

Charge for the year

426

At 30 June 2023

1,708

Carrying amount

At 30 June 2023

-

At 30 June 2022

426

5

Investment properties

2023
£

At 1 July

352,000

At 30 June

352,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at market value by the directors. The valuation was made on an open market value basis.

There has been no valuation of investment property by an independent valuer.

 

PNPW Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

6

Debtors

Current

2023
£

2022
£

Trade debtors

-

2,600

Other debtors

4,144

712

 

4,144

3,312

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

180

-

Taxation and social security

-

650

Accruals and deferred income

1,250

1,400

Other creditors

493,307

493,307

494,737

495,357

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2