Penmellyn Properties Limited 11572212 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is the letting of real estate. Digita Accounts Production Advanced 6.30.9574.0 true true 11572212 2022-04-01 2023-03-31 11572212 2023-03-31 11572212 core:RetainedEarningsAccumulatedLosses 2023-03-31 11572212 core:ShareCapital 2023-03-31 11572212 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11572212 bus:SmallEntities 2022-04-01 2023-03-31 11572212 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11572212 bus:FullAccounts 2022-04-01 2023-03-31 11572212 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 11572212 bus:RegisteredOffice 2022-04-01 2023-03-31 11572212 bus:Director1 2022-04-01 2023-03-31 11572212 bus:Director2 2022-04-01 2023-03-31 11572212 bus:Director3 2022-04-01 2023-03-31 11572212 bus:Director4 2022-04-01 2023-03-31 11572212 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11572212 countries:AllCountries 2022-04-01 2023-03-31 11572212 2021-04-01 2022-03-31 11572212 2022-03-31 11572212 core:RetainedEarningsAccumulatedLosses 2022-03-31 11572212 core:ShareCapital 2022-03-31 11572212 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 11572212

Penmellyn Properties Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2023

 

Penmellyn Properties Limited

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2

 

Penmellyn Properties Limited

(Registration number: 11572212)
Abridged Balance Sheet as at 31 March 2023

2023
£

2022
£

Fixed assets

Investment property

2,215,000

2,215,000

Current assets

Debtors

1,107

20

Cash at bank and in hand

8,557

15,893

9,664

15,913

Creditors: Amounts falling due within one year

(1,521,732)

(1,681,673)

Net current liabilities

(1,512,068)

(1,665,760)

Net assets

702,932

549,240

Capital and reserves

Called up share capital

400

400

Profit and loss account

702,532

548,840

Total equity

702,932

549,240

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 26 October 2023 and signed on its behalf by:
 

Mr J Christie

Director

Mr C Whiting

Director

Mr P Harris

Director

Mr P J Murrish

Director

 

Penmellyn Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2023

1

General information

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

The address of its registered office is:
Calyx House
South Road
Taunton
Somerset
TA1 3DU

These financial statements were authorised for issue by the Board on 26 October 2023.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged 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.

Going concern

The financial statements have been prepared on a going concern basis. Of the company's current liabilities at 31 March 2023, an amount is owed to the directors, who have agreed to continue to support the company, and not to demand repayment of this amount to the extent that any such repayment would jeopardise the future of the company.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is carried at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).