REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 30 August 2022 to 30 June 2023 |
for |
Pendulum Management Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 30 August 2022 to 30 June 2023 |
for |
Pendulum Management Limited |
Pendulum Management Limited (Registered number: NI609800) |
Contents of the Financial Statements |
for the Period 30 August 2022 to 30 June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Pendulum Management Limited |
Company Information |
for the Period 30 August 2022 to 30 June 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
5 Westbrook Court |
Sharrowvale Road |
Sheffield |
S11 8YZ |
Pendulum Management Limited (Registered number: NI609800) |
Balance Sheet |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 6 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
Pendulum Management Limited (Registered number: NI609800) |
Balance Sheet - continued |
30 June 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Pendulum Management Limited (Registered number: NI609800) |
Notes to the Financial Statements |
for the Period 30 August 2022 to 30 June 2023 |
1. | STATUTORY INFORMATION |
Pendulum Management Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Government grants |
Grants are recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. |
Taxation |
Taxation for the period 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 balance sheet date. |
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 period 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. |
Going concern |
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore adopts the going concern basis in preparing its financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
Pendulum Management Limited (Registered number: NI609800) |
Notes to the Financial Statements - continued |
for the Period 30 August 2022 to 30 June 2023 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Other loans more 5yrs instal | 321,462 | 353,608 |
Pendulum Management Limited (Registered number: NI609800) |
Notes to the Financial Statements - continued |
for the Period 30 August 2022 to 30 June 2023 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
Other loans |
Included in bank loans is the amount borrowed under the Government's Bounce Back Loan scheme. The amount is repayable by installments over 6 years with interest charged at 2.5% monthly. The Government acts as guarantor to the lender of this loan. |
Included in other loans is the amount borrowed from The Secretary of State for the Department for Digital, Culture, Media and Sport. This loan is secured by floating charges on the company's assets. The amount is repayable by installments with interest charged at 2%. |