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Registered number: 09540818









PENSIVE ENTERPRISES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
PENSIVE ENTERPRISES LIMITED
 
 
COMPANY INFORMATION


Directors
P R M Bentley 
E S Bentley 




Company secretary
E S Bentley



Registered number
09540818



Registered office
7 Roseacre Gardens
Chilworth

Guildford

Surrey

England

GU4 8RQ




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
PENSIVE ENTERPRISES LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 7

 
PENSIVE ENTERPRISES LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PENSIVE ENTERPRISES LIMITED
FOR THE YEAR ENDED 31 OCTOBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pensive Enterprises Limited for the year ended 31 October 2023 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Pensive Enterprises Limited, as a body, in accordance with the terms of our engagement letter dated 31 January 2022Our work has been undertaken solely to prepare for your approval the financial statements of Pensive Enterprises Limited and state those matters that we have agreed to state to the Board of directors of Pensive Enterprises Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pensive Enterprises Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Pensive Enterprises Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pensive Enterprises Limited. You consider that Pensive Enterprises Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Pensive Enterprises Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  





MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
12 March 2024
Page 1

 
PENSIVE ENTERPRISES LIMITED
REGISTERED NUMBER: 09540818

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
61
91

  
61
91

Current assets
  

Debtors: amounts falling due within one year
 5 
8,933
2,118

Bank and cash balances
  
8,666
3,192

  
17,599
5,310

Creditors: amounts falling due within one year
 6 
(7,758)
(1,618)

Net current assets
  
 
 
9,841
 
 
3,692

Total assets less current liabilities
  
9,902
3,783

Provisions for liabilities
  

Deferred tax
  
(12)
(9)

  
 
 
(12)
 
 
(9)

Net assets
  
9,890
3,774


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
9,790
3,674

  
9,890
3,774


Page 2

 
PENSIVE ENTERPRISES LIMITED
REGISTERED NUMBER: 09540818
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 March 2024.






P R M Bentley
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
PENSIVE ENTERPRISES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

The Company is a private company limited by shares. It is both incorporated and domiciled in England and Wales. The address of its registered office is 7 Roseacre Gardens, Chilworth, Guildford, Surrey, England, GU4 8RQ.
The Company's principal activity is that of providing professional services, and it's activities are undertaken in Surrey.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Current and deferred taxation

The tax charge for the year comprises current and deferred tax. The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates or generates income.

Page 4

 
PENSIVE ENTERPRISES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
33%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Page 5

 
PENSIVE ENTERPRISES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

2023
2022
£
£

Wages and salaries
43,500
13,000

Social security costs
3,574
-

47,074
13,000


The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 November 2022
452



At 31 October 2023

452



Depreciation


At 1 November 2022
361


Charge for the year on owned assets
30



At 31 October 2023

391



Net book value



At 31 October 2023
61



At 31 October 2022
91

Page 6

 
PENSIVE ENTERPRISES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Debtors

2023
2022
£
£


Other debtors
1,733
2,118

Prepayments and accrued income
7,200
-

8,933
2,118



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
1,499
-

Other taxation and social security
4,621
58

Accruals and deferred income
1,638
1,560

7,758
1,618



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1.00 each
100
100



8.


Transactions with directors

At 1 November 2022, the Company was owed by the directors £720. During the year the Company made net advances of £1,773 on behalf of the directors, and repayments of £2,159 were made by the directors.  As at 31 October 2023, the directors owed the Company £334, and this is included within other debtors per note 5 to the financial statements.

 
Page 7