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REGISTERED NUMBER: 03385044 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 AUGUST 2022

FOR

PENTAGON HOMES LTD

PENTAGON HOMES LTD (REGISTERED NUMBER: 03385044)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 AUGUST 2022










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PENTAGON HOMES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 AUGUST 2022







DIRECTOR: Mr L T Lucas





REGISTERED OFFICE: 36 A West Street
Reigate
Surrey
RH2 9BX





REGISTERED NUMBER: 03385044 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

PENTAGON HOMES LTD (REGISTERED NUMBER: 03385044)

STATEMENT OF FINANCIAL POSITION
29 AUGUST 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,050,000 1,050,000

CURRENT ASSETS
Stocks - 250,000
Debtors 5 425,432 687,845
Cash at bank 513,723 109,796
939,155 1,047,641
CREDITORS
Amounts falling due within one year 6 1,036,032 1,150,570
NET CURRENT LIABILITIES (96,877 ) (102,929 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

953,123

947,071

CREDITORS
Amounts falling due after more than one year 7 (45,316 ) (48,302 )

PROVISIONS FOR LIABILITIES 9 (84,159 ) (84,159 )
NET ASSETS 823,648 814,610

CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 741,081 741,081
Retained earnings 82,467 73,429
SHAREHOLDERS' FUNDS 823,648 814,610

PENTAGON HOMES LTD (REGISTERED NUMBER: 03385044)

STATEMENT OF FINANCIAL POSITION - continued
29 AUGUST 2022


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 August 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 November 2023 and were signed by:





Mr L T Lucas - Director


PENTAGON HOMES LTD (REGISTERED NUMBER: 03385044)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 AUGUST 2022


1. STATUTORY INFORMATION

Pentagon Homes Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Land is not depreciated.
Land and buildings is revalued annually by the directors and derived from the current market value.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FINANCIAL INSTRUMENTS
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.

Financial assets that are measured at cost and amortized cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognized in profit or loss.

For financial assets measured at amortized cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability


PENTAGON HOMES LTD (REGISTERED NUMBER: 03385044)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 AUGUST 2022


2. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
Cost or valuation
At 30 August 2021
and 29 August 2022 1,050,000
Net book value
At 29 August 2022 1,050,000
At 29 August 2021 1,050,000

Cost or valuation at 29 August 2022 is represented by:

Land and
buildings
£   
Valuation in 1999 330,240
Valuation in 2002 195,000
Valuation in 2010 250,000
Valuation in 2013 50,000
Cost 224,760
1,050,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 425,432 687,549
Directors' current accounts - 296
425,432 687,845

PENTAGON HOMES LTD (REGISTERED NUMBER: 03385044)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 AUGUST 2022


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts - 689,035
Trade creditors (225 ) 1,540
Taxation and social security 788 -
Other creditors 1,035,469 459,995
1,036,032 1,150,570

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Other creditors 45,316 48,302

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 45,316 48,302

8. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans - 689,035

The bank loan is secured by a fixed charge over the company's assets in favour of National Westminster Bank PLC.

9. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 84,159 84,159

Deferred
tax
£   
Balance at 30 August 2021 84,159
Balance at 29 August 2022 84,159

PENTAGON HOMES LTD (REGISTERED NUMBER: 03385044)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 AUGUST 2022


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100

11. RESERVES

Revaluation reserve
The revaluation reserve comprise the balance of revaluations relating to the freehold property net of deferred tax on the gain. This reserve is non-distributable.

Retained earnings
The retained earnings comprise the balance of profits accumulated over the life of the company. This reserve is distributable.