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REGISTERED NUMBER: 03612664 (England and Wales)



















Financial Statements

for the Year Ended 31 August 2023

for

Penmark Limited

Penmark Limited (Registered number: 03612664)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Penmark Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: V M Young
G C Young





SECRETARY: G C Young





REGISTERED OFFICE: The Mills
Canal Street
Derby
DE1 2RJ





REGISTERED NUMBER: 03612664 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Penmark Limited (Registered number: 03612664)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 - 269
- 269

CURRENT ASSETS
Debtors 6 314,179 120,474
Cash at bank 37,285 230,355
351,464 350,829
CREDITORS
Amounts falling due within one year 7 160,280 157,133
NET CURRENT ASSETS 191,184 193,696
TOTAL ASSETS LESS CURRENT
LIABILITIES

191,184

193,965

CREDITORS
Amounts falling due after more than one
year

8

17,500

27,500
NET ASSETS 173,684 166,465

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 173,583 166,364
SHAREHOLDERS' FUNDS 173,684 166,465

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Penmark Limited (Registered number: 03612664)

Balance Sheet - continued
31 August 2023


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 1 March 2024 and were signed on its behalf by:





G C Young - Director


Penmark Limited (Registered number: 03612664)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Penmark 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.

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.

Turnover
Turnover represents the value of services performed during the year excluding value added tax. Turnover is recognised in the year in which the service is provided.

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.

Invoice discounting
The debts factored are included within trade debtors with a financing limit relating to proceeds received from the debt factor included within creditors.

The interest element and other factoring charges are recognised within the profit and loss account as they accrue.

Leasing commitments
Rentals paid under operating leases are charged to profit and loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Domain
names
£   
COST
At 1 September 2022
and 31 August 2023 3,000
AMORTISATION
At 1 September 2022
and 31 August 2023 3,000
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

Penmark Limited (Registered number: 03612664)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

5. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 September 2022
and 31 August 2023 40,437
DEPRECIATION
At 1 September 2022 40,168
Charge for year 269
At 31 August 2023 40,437
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 269

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 170,494 113,929
Directors' loan account 137,944 -
Prepayments 5,741 6,545
314,179 120,474

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 20,937 10,000
Trade creditors 62,900 58,972
Tax 36,229 42,681
Social security and other taxes 38,066 33,328
Other creditors 528 129
Directors' loan account - 10,543
Accruals and deferred income 1,620 1,480
160,280 157,133

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loan 17,500 27,500

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 9,004 -
Between one and five years 31,515 -
40,519 -

Penmark Limited (Registered number: 03612664)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 10,937 -

The bank overdraft is secured on trade debtors.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Net advances of £137,944 were made to directors during the year. Interest of £2,330 was charged and the balance is repayable on demand.