2023-02-012024-01-312024-01-31false11765006PENDEFORDS 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PENDEFORDS LTD

Registered Number
11765006
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

PENDEFORDS LTD
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

HEADLAND, Gareth John
HEADLAND, Lucy Christina

Registered Address

Hardwick House
2 Agricultural Hall Plain
Norwich
NR1 3FS

Registered Number

11765006 (England and Wales)
PENDEFORDS LTD
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets45,2012,404
5,2012,404
Current assets
Debtors5,3188,030
Cash at bank and on hand20,9432,321
26,26110,351
Creditors amounts falling due within one year5(12,928)(11,191)
Net current assets (liabilities)13,333(840)
Total assets less current liabilities18,5341,564
Creditors amounts falling due after one year6(1,927)(3,269)
Provisions for liabilities7(988)-
Net assets15,619(1,705)
Capital and reserves
Called up share capital22
Profit and loss account15,617(1,707)
Shareholders' funds15,619(1,705)
The financial statements were approved and authorised for issue by the Board of Directors on 11 March 2024, and are signed on its behalf by:
HEADLAND, Gareth John
Director
HEADLAND, Lucy Christina
Director

Registered Company No. 11765006
PENDEFORDS LTD
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
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.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-4
Fixtures and fittings25-
Office Equipment-3
2.Average number of employees

20242023
Average number of employees during the year22
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 February 232084918,5989,297
Additions1,062-4,0655,127
Disposals--(1,713)(1,713)
At 31 January 241,27049110,95012,711
Depreciation and impairment
At 01 February 23144516,6986,893
Charge for year741101,8862,070
On disposals--(1,453)(1,453)
At 31 January 242181617,1317,510
Net book value
At 31 January 241,0523303,8195,201
At 31 January 23644401,9002,404
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables3,7865,882
Bank borrowings and overdrafts1,3431,343
Amounts owed to related parties162-
Taxation and social security7,637876
Other creditors-3,090
Total12,92811,191
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts1,9273,269
Total1,9273,269
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)988-
Total988-
8.Related party transactions
At the balance sheet date the company owed the directors £162.00.