2021-11-012022-10-312022-10-31false12268550PENIEL HOMES 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PENIEL HOMES LIMITED

Registered Number
12268550
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2022

PENIEL HOMES LIMITED
Company Information
for the year from 1 November 2021 to 31 October 2022

Director

DANIELS, Joseph

Registered Address

2 Falcon Gate
Shire Park
Welwyn Garden City
AL7 1TW

Registered Number

12268550 (England and Wales)
PENIEL HOMES LIMITED
Statement of Financial Position
31 October 2022

Notes

2022

2021

£

£

£

£

Current assets
Debtors27,3609,379
Cash at bank and on hand7852,972
28,14512,351
Creditors amounts falling due within one year(2,570)-
Net current assets (liabilities)25,57512,351
Total assets less current liabilities25,57512,351
Creditors amounts falling due after one year(71,676)(50,000)
Net assets(46,101)(37,649)
Capital and reserves
Profit and loss account(46,101)(37,649)
Shareholders' funds(46,101)(37,649)
The financial statements were approved and authorised for issue by the Director on 31 October 2023, and are signed on its behalf by:
DANIELS, Joseph
Director
Registered Company No. 12268550
PENIEL HOMES LIMITED
Notes to the Financial Statements
for the year ended 31 October 2022

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.Principal activities
In the accounting year, Peniel Home Limited carried out activities principally relating to the management of real estates on a fee or contractual basis & other letting and operating of own or leased real estates
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
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.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Going concern
The company, as a legal entity, will continue in operation for the foreseeable future. There is neither the intention nor need to liquidate it or cease trading
6.Employee information

20222021
Average number of employees during the year41