Registered number
06706246
Pengelly Design Limited
Filleted Accounts
30 November 2023
Pengelly Design Limited
Registered number: 06706246
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 433,255 438,048
Current assets
Debtors 4 25,502 16,915
Cash at bank and in hand 481,716 454,609
507,218 471,524
Creditors: amounts falling due within one year 5 (198,910) (229,228)
Net current assets 308,308 242,296
Net assets 741,563 680,344
Capital and reserves
Called up share capital 1 1
Profit and loss account 741,562 680,343
Shareholder's funds 741,563 680,344
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Simon Pengelly
Director
Approved by the board on 4 March 2024
Pengelly Design Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2022 415,716 117,742 533,458
Additions - 1,053 1,053
At 30 November 2023 415,716 118,795 534,511
Depreciation
At 1 December 2022 - 95,410 95,410
Charge for the year - 5,846 5,846
At 30 November 2023 - 101,256 101,256
Net book value
At 30 November 2023 415,716 17,539 433,255
At 30 November 2022 415,716 22,332 438,048
4 Debtors 2023 2022
£ £
Trade debtors 23,890 18,244
Corporation Tax overseas witheld 1,739 -
Other debtors (127) (1,329)
25,502 16,915
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 148,425 173,476
Trade creditors 12,194 7,512
Taxation and social security costs 38,197 47,078
Other creditors 94 1,162
198,910 229,228
6 Controlling party
The controlling party is S Pengelly, by way of his shareholding.
7 Other information
Pengelly Design Limited is a private company limited by shares and incorporated in England. Its registered office is:
366-368 Coldharbour Lane
London
SW9 8PL
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