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REGISTERED NUMBER: 10811173 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Penncroft Estates Limited

Penncroft Estates Limited (Registered number: 10811173)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Penncroft Estates Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: C Collins





REGISTERED OFFICE: 4 Yorke Street
Hucknall
Nottingham
NG15 7BT





REGISTERED NUMBER: 10811173 (England and Wales)





ACCOUNTANTS: Smith Cookson
Chartered Accountants
4 Yorke Street
Hucknall
Nottinghamshire
NG15 7BT

Penncroft Estates Limited (Registered number: 10811173)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 307,732 307,732

CURRENT ASSETS
Debtors 5 398 -
Cash at bank 20,624 10,068
21,022 10,068
CREDITORS
Amounts falling due within one year 6 2,256 1,870
NET CURRENT ASSETS 18,766 8,198
TOTAL ASSETS LESS CURRENT
LIABILITIES

326,498

315,930

CREDITORS
Amounts falling due after more than one
year

7

(320,050

)

(320,050

)

PROVISIONS FOR LIABILITIES 8 (926 ) -
NET ASSETS/(LIABILITIES) 5,522 (4,120 )

CAPITAL AND RESERVES
Called up share capital 9 2 2
Non-Distributable Reserves 10 3,950 4,876
Retained earnings 10 1,570 (8,998 )
SHAREHOLDERS' FUNDS 5,522 (4,120 )

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

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

The director acknowledges his 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.

Penncroft Estates Limited (Registered number: 10811173)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 February 2024 and were signed by:





C Collins - Director


Penncroft Estates Limited (Registered number: 10811173)

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

1. STATUTORY INFORMATION

Penncroft Estates 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year 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 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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 307,732
NET BOOK VALUE
At 30 June 2023 307,732
At 30 June 2022 307,732

Penncroft Estates Limited (Registered number: 10811173)

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

4. INVESTMENT PROPERTY - continued

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2020 376
Valuation in 2022 4,500
Cost 302,856
307,732

If investment property had not been revalued it would have been included at the following historical cost:

30.6.23 30.6.22
£    £   
Cost 130,124 130,124

Investment property was valued on an open market basis on 30 June 2022 by the director. .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Prepayments 398 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 170 163
Corporation tax 368 -
Directors' current accounts 458 459
Accruals and deferred income 1,260 1,248
2,256 1,870

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Other loans - 1-2 years 320,050 320,050

8. PROVISIONS FOR LIABILITIES
30.6.23 30.6.22
£    £   
Deferred tax 926 -

Deferred
tax
£   
Provided during year 926
Balance at 30 June 2023 926

Penncroft Estates Limited (Registered number: 10811173)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
2 Ordinary £1 2 2

10. RESERVES
Retained Non-Distributable
earnings Reserves Totals
£    £    £   

At 1 July 2022 (8,998 ) 4,876 (4,122 )
Profit for the year 9,642 9,642
Revalue investment property 926 (926 ) -
At 30 June 2023 1,570 3,950 5,520