2022-04-012023-03-312023-03-31false11114490PENNY ROSE INVESTMENTS 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PENNY ROSE INVESTMENTS LIMITED

Registered Number
11114490
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

PENNY ROSE INVESTMENTS LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

PENNELL, Ian David
TOMLINSON, Robert Anthony

Registered Address

10 Parsonage Street
Dursley
GL11 4EA

Registered Number

11114490 (England and Wales)
PENNY ROSE INVESTMENTS LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investments267,074244,041
267,074244,041
Current assets
Debtors7-31,350
Cash at bank and on hand37,50813,818
37,50845,168
Creditors amounts falling due within one year8(55,870)(27,061)
Net current assets (liabilities)(18,362)18,107
Total assets less current liabilities248,712262,148
Creditors amounts falling due after one year9(341,605)(341,605)
Net assets(92,893)(79,457)
Capital and reserves
Called up share capital100100
Share premium139,900139,900
Profit and loss account(232,893)(219,457)
Shareholders' funds(92,893)(79,457)
The financial statements were approved and authorised for issue by the Board of Directors on 21 December 2023, and are signed on its behalf by:
PENNELL, Ian David
Director
TOMLINSON, Robert Anthony
Director

Registered Company No. 11114490
PENNY ROSE INVESTMENTS LIMITED
Notes to the Financial Statements
for the year ended 31 March 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.Principal activities
The principal activity of the company and group continued to be that of independent financial advisors.
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
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:
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.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
6.Employee information

20232022
Average number of employees during the year00
7.Debtors

2023

2022

££
Trade debtors / trade receivables-31,350
Total-31,350
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.
8.Creditors within one year

2023

2022

££
Taxation and social security10,73510,697
Other creditors44,106-
Accrued liabilities and deferred income1,02916,364
Total55,87027,061
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.
9.Creditors after one year

2023

2022

££
Amounts owed to related parties255,690255,690
Other creditors85,91585,915
Total341,605341,605