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REGISTERED NUMBER: 00602566 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Cecil Penney Limited

Cecil Penney Limited (Registered number: 00602566)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cecil Penney Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Mrs E Gregory
Mr D Gregory
Mr P Gregory





SECRETARY: Mr D Gregory





REGISTERED OFFICE: Sheffield Road Garage
Sheffield Road
Penistone
Sheffield
South Yorkshire
S36 6HF





REGISTERED NUMBER: 00602566 (England and Wales)





ACCOUNTANTS: Harris & Co Limited
Chartered Accountants
Marland House
13 Huddersfield Road
Barnsley
South Yorkshire
S70 2LW

Cecil Penney Limited (Registered number: 00602566)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 15,741 21,098
Investments 6 297,544 263,507
313,285 284,605

CURRENT ASSETS
Stocks 88,410 70,885
Debtors 7 55,668 57,065
Cash at bank and in hand 711,038 670,506
855,116 798,456
CREDITORS
Amounts falling due within one year 8 303,268 262,102
NET CURRENT ASSETS 551,848 536,354
TOTAL ASSETS LESS CURRENT
LIABILITIES

865,133

820,959

PROVISIONS FOR LIABILITIES 9,364 8,317
NET ASSETS 855,769 812,642

CAPITAL AND RESERVES
Called up share capital 9 5,000 5,000
Retained earnings 850,769 807,642
SHAREHOLDERS' FUNDS 855,769 812,642

Cecil Penney Limited (Registered number: 00602566)

Balance Sheet - continued
30 September 2023


The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 November 2023 and were signed on its behalf by:





Mr D Gregory - Director


Cecil Penney Limited (Registered number: 00602566)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Cecil Penney Limited 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.

The presentation and functional currency of the financial statements is the Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in compliance with FRS 102, 'The Financial Standard Applicable in the UK and the Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

Significant judgements and estimates
The principal accounting policies and significant judgements and estimates applied in the preparation of these financial statements are set out below. These policies, judgements and estimates have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents amounts earned on goods and services provided during the year and derives from the provision of goods and services falling within the company's ordinary activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - in accordance with the property
Plant and machinery - at varying rates on cost
Fixtures and fittings - 10% on cost straight line
Motor vehicles - Straight line over 5 years

All fixed assets are initially recorded at cost.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.


Cecil Penney Limited (Registered number: 00602566)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 15 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2022
and 30 September 2023 59,103 451,253 510,356
DEPRECIATION
At 1 October 2022 52,587 436,671 489,258
Charge for year 476 4,881 5,357
At 30 September 2023 53,063 441,552 494,615
NET BOOK VALUE
At 30 September 2023 6,040 9,701 15,741
At 30 September 2022 6,516 14,582 21,098

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 October 2022 263,507
Additions 209,739
Disposals (198,838 )
Revaluations 23,136
At 30 September 2023 297,544
NET BOOK VALUE
At 30 September 2023 297,544
At 30 September 2022 263,507

Cecil Penney Limited (Registered number: 00602566)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

6. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30 September 2023 is represented by:

Other
investments
£   
Valuation in 2019 47,703
Valuation in 2020 (8,187 )
Valuation in 2021 24,471
Valuation in 2022 (36,921 )
Valuation in 2023 23,136
Cost 247,342
297,544

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 38,942 42,309
Other debtors 16,726 14,756
55,668 57,065

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 142,917 147,186
Taxation and social security 30,048 55,075
Other creditors 130,303 59,841
303,268 262,102

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
5,000 Ordinary £1 5,000 5,000