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REGISTERED NUMBER: 08268493 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 OCTOBER 2022

FOR

PENNY BLACK CONSTRUCTION LIMITED

PENNY BLACK CONSTRUCTION LIMITED (REGISTERED NUMBER: 08268493)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 October 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PENNY BLACK CONSTRUCTION LIMITED

COMPANY INFORMATION
for the Year Ended 30 October 2022







DIRECTOR: D E Holden





REGISTERED OFFICE: 10 London Mews
Paddington
LONDON
W2 1HY





REGISTERED NUMBER: 08268493 (England and Wales)





ACCOUNTANTS: Stein Richards
Chartered Accountants
10 London Mews
Paddington
LONDON
W2 1HY

PENNY BLACK CONSTRUCTION LIMITED (REGISTERED NUMBER: 08268493)

BALANCE SHEET
30 October 2022

30.10.22 30.10.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 42,834 -

CURRENT ASSETS
Debtors 5 44,874 76,347
Cash at bank 13,159 408
58,033 76,755
CREDITORS
Amounts falling due within one year 6 58,297 76,697
NET CURRENT (LIABILITIES)/ASSETS (264 ) 58
TOTAL ASSETS LESS CURRENT
LIABILITIES

42,570

58

CREDITORS
Amounts falling due after more than one
year

7

42,553

-
NET ASSETS 17 58

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 16 57
SHAREHOLDERS' FUNDS 17 58

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 October 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PENNY BLACK CONSTRUCTION LIMITED (REGISTERED NUMBER: 08268493)

BALANCE SHEET - continued
30 October 2022


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2023 and were signed by:





D E Holden - Director


PENNY BLACK CONSTRUCTION LIMITED (REGISTERED NUMBER: 08268493)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 October 2022

1. STATUTORY INFORMATION

Penny Black Construction 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.

At the balance sheet date the company has a deficiency of assets. The accounts have been prepared on a going concern basis, as the director is satisfied that the company will continue to receive the support of its loan creditors.

Turnover
Turnover represents invoiced project income in the year, net of discounts and value added tax.

Rendering of services

Revenue for providing services is recognised in the period when projects are completed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Motor vehicles - 25% straight line

Financial instruments
The Company only enters into basic financial instruments transactions that results in the recognition of financial assets and liabilities like trade and other debtors and creditors and other creditors and loans to related parties.

The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measures at the present value of the future payments/receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised costs using the effect interest method less any impairment. An impairment review is undertaken annually at the balance sheet date

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

PENNY BLACK CONSTRUCTION LIMITED (REGISTERED NUMBER: 08268493)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 October 2022

2. ACCOUNTING POLICIES - continued

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 2 (2021 - 3 ) .

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
Additions 57,112
At 30 October 2022 57,112
DEPRECIATION
Charge for year 14,278
At 30 October 2022 14,278
NET BOOK VALUE
At 30 October 2022 42,834

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.10.22 30.10.21
£    £   
Trade debtors - 10,424
Other debtors 44,874 65,923
44,874 76,347

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.10.22 30.10.21
£    £   
Hire purchase contracts 6,305 -
Trade creditors 19,324 26,632
Taxation and social security 25,847 41,113
Other creditors 6,821 8,952
58,297 76,697

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.10.22 30.10.21
£    £   
Hire purchase contracts 42,553 -

PENNY BLACK CONSTRUCTION LIMITED (REGISTERED NUMBER: 08268493)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 October 2022

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.10.22 30.10.21
value: £    £   
1 Ordinary £1 1 1

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 October 2022 and 30 October 2021:

30.10.22 30.10.21
£    £   
D E Holden
Balance outstanding at start of year 15,288 9,970
Amounts advanced - 5,318
Amounts repaid (351 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,937 15,288

Directors loan cleared with a dividend of £15,000 on 6 April 2023.