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Company Registration No. 10985138 (England and Wales)
Penney Property Limited Unaudited accounts for the year ended 30 September 2023
Penney Property Limited Statement of financial position as at 30 September 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
121,057 
106,529 
Current assets
Debtors
250 
250 
Cash at bank and in hand
945 
398 
1,195 
648 
Creditors: amounts falling due within one year
(98,920)
(99,775)
Net current liabilities
(97,725)
(99,127)
Total assets less current liabilities
23,332 
7,402 
Provisions for liabilities
Deferred tax
(2,869)
(1,871)
Net assets
20,463 
5,531 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
20,363 
5,431 
Shareholders' funds
20,463 
5,531 
For the year ending 30 September 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 November 2023 and were signed on its behalf by
David Penney Director Company Registration No. 10985138
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Penney Property Limited Notes to the Accounts for the year ended 30 September 2023
1
Statutory information
Penney Property Limited is a private company, limited by shares, registered in England and Wales, registration number 10985138. The registered office is 5 Herbert Road, Clevedon, BS21 7ND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Market Value
Computer equipment
25% straight line
4
Tangible fixed assets
Land & buildings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At valuation 
At cost 
At 1 October 2022
106,000 
1,059 
107,059 
Additions
- 
1,124 
1,124 
Revaluations
13,950 
- 
13,950 
Disposals
- 
(650)
(650)
At 30 September 2023
119,950 
1,533 
121,483 
Depreciation
At 1 October 2022
- 
530 
530 
Charge for the year
- 
384 
384 
On disposals
- 
(488)
(488)
At 30 September 2023
- 
426 
426 
Net book value
At 30 September 2023
119,950 
1,107 
121,057 
At 30 September 2022
106,000 
529 
106,529 
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Penney Property Limited Notes to the Accounts for the year ended 30 September 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
250 
250 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
291 
458 
Loans from directors
98,229 
98,917 
Accruals
400 
400 
98,920 
99,775 
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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