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
Tangible assets
121,057
106,529
Cash at bank and in hand
945
398
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)
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
Penney Property Limited
Notes to the Accounts
for the year ended 30 September 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
Revaluations
13,950
-
13,950
At 30 September 2023
119,950
1,533
121,483
At 1 October 2022
-
530
530
Charge for the year
-
384
384
At 30 September 2023
-
426
426
At 30 September 2023
119,950
1,107
121,057
At 30 September 2022
106,000
529
106,529
Penney Property Limited
Notes to the Accounts
for the year ended 30 September 2023
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
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).