2022-02-012023-01-312023-01-31false12388180PENCROFT PROPERTY 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PENCROFT PROPERTY LTD

Registered Number
12388180
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2023

PENCROFT PROPERTY LTD
Company Information
for the year from 1 February 2022 to 31 January 2023

Director

LAWRENCE, Robert Graham

Registered Address

Glen Croft Hendra Vean
Carbis Bay
St. Ives
TR26 2LF

Registered Number

12388180 (England and Wales)
PENCROFT PROPERTY LTD
Balance Sheet as at
31 January 2023

Notes

2023

2022

£

£

£

£

Current assets
Stocks6671,186350,331
Debtors73,9803,980
Cash at bank and on hand26823,240
675,434377,551
Creditors amounts falling due within one year8(550)(500)
Net current assets (liabilities)674,884377,051
Total assets less current liabilities674,884377,051
Creditors amounts falling due after one year9(735,943)(412,653)
Net assets(61,059)(35,602)
Capital and reserves
Called up share capital11
Profit and loss account(61,060)(35,603)
Shareholders' funds(61,059)(35,602)
The financial statements were approved and authorised for issue by the Director on 16 October 2023, and are signed on its behalf by:
LAWRENCE, Robert Graham
Director
Registered Company No. 12388180
PENCROFT PROPERTY LTD
Notes to the Financial Statements
for the year ended 31 January 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
4.Prior period and policy change adjustments
In the accounts for the year ended 31/01/2022 the acquirement of the land purchased to build on and related legal costs were not recognised on the balance sheet or profit and loss. As this of a material amount a prior adjustment has been made. The following changes have been made: Stocks £350,331 (previously £87,831) Other Creditors (non-current) £268,653 (previously £0) Other Creditors (current) £0 (previously £4,185) Profit and Loss £35,603 (previously (£33,635))
5.Employee information

20232022
Average number of employees during the year00
6.Stocks

2023

2022

££
Work in progress671,186350,331
Total671,186350,331
7.Debtors

2023

2022

££
Other debtors3,9803,980
Total3,9803,980
8.Creditors within one year

2023

2022

££
Accrued liabilities and deferred income550500
Total550500
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts408,000144,000
Other creditors327,943268,653
Total735,943412,653