2022-03-012023-02-282023-02-28false11183070Pen Mill Storage 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Pen Mill Storage Limited

Registered Number
11183070
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

Pen Mill Storage Limited
Company Information
for the year from 1 March 2022 to 28 February 2023

Directors

Conlin, Ian
Frost, Colin Brice

Registered Address

9c Oxford Road Oxford Road
Pen Mill Trading Estate
Yeovil
BA21 5HR

Registered Number

11183070 (England and Wales)
Pen Mill Storage Limited
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets523,2846,646
23,2846,646
Current assets
Debtors624675
Cash at bank and on hand4,70217,162
4,94817,237
Creditors amounts falling due within one year7(6,308)(2,468)
Net current assets (liabilities)(1,360)14,769
Total assets less current liabilities21,92421,415
Provisions for liabilities(5,687)(1,263)
Net assets16,23720,152
Capital and reserves
Called up share capital100100
Profit and loss account16,13720,052
Shareholders' funds16,23720,152
The financial statements were approved and authorised for issue by the Board of Directors on 27 November 2023, and are signed on its behalf by:
Conlin, Ian
Director
Registered Company No. 11183070
Pen Mill Storage Limited
Notes to the Financial Statements
for the year ended 28 February 2023

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.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Land and buildings10
Plant and machinery10
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.
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.
4.Employee information

20232022
Average number of employees during the year00
5.Property, plant and equipment

Land & buildings

Plant & machinery

Total

£££
Cost or valuation
At 01 March 224,0265,3289,354
Additions-18,16018,160
At 28 February 234,02623,48827,514
Depreciation and impairment
At 01 March 221,6111,0972,708
Charge for year4051,1171,522
At 28 February 232,0162,2144,230
Net book value
At 28 February 232,01021,27423,284
At 28 February 222,4154,2316,646
6.Debtors

2023

2022

££
Trade debtors / trade receivables170-
Prepayments and accrued income7675
Total24675
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors within one year

2023

2022

££
Amounts owed to related parties5,6181,808
Accrued liabilities and deferred income690660
Total6,3082,468
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.