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REGISTERED NUMBER: 06431325 (England and Wales)











Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Pennikkity Limited

Pennikkity Limited (Registered number: 06431325)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Pennikkity Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: Ms P Damant



REGISTERED OFFICE: Unit 1 Crown & Anchor Mews
Tower Ramparts
Ipswich
Suffolk
IP1 3DJ



REGISTERED NUMBER: 06431325 (England and Wales)



ACCOUNTANTS: Ballams Chartered Accountants
Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ



BANKERS: HSBC
41 Woodbridge Road East
Ipswich
Suffolk
IP4 5QN

Pennikkity Limited (Registered number: 06431325)

Statement of Financial Position
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 6,777 695
6,777 695

CURRENT ASSETS
Stocks 6 5,931 3,197
Debtors 7 492 400
Cash at bank 31,776 39,249
38,199 42,846
CREDITORS
Amounts falling due within one year 8 18,962 18,878
NET CURRENT ASSETS 19,237 23,968
TOTAL ASSETS LESS CURRENT LIABILITIES 26,014 24,663

PROVISIONS FOR LIABILITIES 1,288 -
NET ASSETS 24,726 24,663

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 24,724 24,661
SHAREHOLDERS' FUNDS 24,726 24,663

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Pennikkity Limited (Registered number: 06431325)

Statement of Financial Position - continued
28 February 2023


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 director and authorised for issue on 3 October 2023 and were signed by:





Ms P Damant - Director


Pennikkity Limited (Registered number: 06431325)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Pennikkity 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Government grants
Grants are accounted for using the accrual model.

Grants relating to revenue are recognised in the Statement of Income and Retained Earnings in the same period as the related costs for which the grant is intended to compensate. Where there are no related costs the grant is recognised in the period in which it becomes receivable.

Grants relating to assets are recognised in the Statement of Income and Retained Earnings over the expected useful life of the asset.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.


Pennikkity Limited (Registered number: 06431325)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022 30,994
Disposals (30,994 )
At 28 February 2023 -
AMORTISATION
At 1 March 2022 30,994
Eliminated on disposal (30,994 )
At 28 February 2023 -
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

Pennikkity Limited (Registered number: 06431325)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2022 3,287 - 3,287
Additions 5,819 1,850 7,669
At 28 February 2023 9,106 1,850 10,956
DEPRECIATION
At 1 March 2022 2,592 - 2,592
Charge for year 977 610 1,587
At 28 February 2023 3,569 610 4,179
NET BOOK VALUE
At 28 February 2023 5,537 1,240 6,777
At 28 February 2022 695 - 695

6. STOCKS
2023 2022
£    £   
Stocks 5,931 3,197

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 492 400

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,370 1,905
Taxation and social security 8,266 10,189
Other creditors 6,326 6,784
18,962 18,878

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary 1 2 2