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REGISTERED NUMBER: 04662380 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Pencrest Investments Limited

Pencrest Investments Limited (Registered number: 04662380)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pencrest Investments Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: P A Louka
G T Georgiou





SECRETARY: G T Georgiou





REGISTERED OFFICE: 67 Westow Street
Upper Norwood
London
SE19 3RW





REGISTERED NUMBER: 04662380 (England and Wales)





ACCOUNTANTS: CWF & Partners Ltd
Chartered Accountants
67 Westow Street
Upper Norwood
London
SE19 3RW

Pencrest Investments Limited (Registered number: 04662380)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Investments 5 36 36
Investment property 6 700,000 690,000
700,036 690,036

CURRENT ASSETS
Stocks 99,893 99,893
Debtors 7 347,333 495,869
Cash at bank 34,933 13,444
482,159 609,206
CREDITORS
Amounts falling due within one year 8 44,758 104,269
NET CURRENT ASSETS 437,401 504,937
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,137,437

1,194,973

CREDITORS
Amounts falling due after more than one
year

9

(500,000

)

(482,634

)

PROVISIONS FOR LIABILITIES 12 (68,669 ) (50,288 )
NET ASSETS 568,768 662,051

CAPITAL AND RESERVES
Called up share capital 13 100 100
Fair value reserve 14 249,531 257,912
Retained earnings 14 319,137 404,039
SHAREHOLDERS' FUNDS 568,768 662,051

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Pencrest Investments Limited (Registered number: 04662380)

Balance Sheet - continued
29 February 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 April 2024 and were signed on its behalf by:





G T Georgiou - Director


Pencrest Investments Limited (Registered number: 04662380)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Pencrest Investments 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the recognition of certain financial assets and liabilities measured at fair value.

Turnover
Turnover represents rent receivable, sale of property and other property related income.

Turnover relating to the sale of property is recognised at the date of an unconditional exchange of contracts.

Investment properties
Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure. Investment properties are measured at fair value. The surplus or deficit arising on the revaluation of investment properties at their fair values are recognised in the income statement.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Pencrest Investments Limited (Registered number: 04662380)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 March 2023
and 29 February 2024 36
NET BOOK VALUE
At 29 February 2024 36
At 28 February 2023 36

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 690,000
Revaluations 10,000
At 29 February 2024 700,000
NET BOOK VALUE
At 29 February 2024 700,000
At 28 February 2023 690,000

The investment properties are valued annually by the directors on a fair value basis.

The historical cost of the investment property amounts to £381,800 (2023 - £381,800).


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors - 5,432
Amounts owed by connected companies 347,333 476,379
Other debtors - 14,058
347,333 495,869

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts (see note 10) - 36,783
Amounts owed to connected companies - 16,874
Tax 14,070 10,184
VAT 985 1,260
Other creditors 18,869 33,869
Directors' current accounts 1,205 -
Accruals and deferred income 9,629 5,299
44,758 104,269

Pencrest Investments Limited (Registered number: 04662380)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans (see note 10) 500,000 437,832
Amounts owed to connected companies - 44,802
500,000 482,634

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years by instalments - 301,772

10. LOANS

An analysis of the maturity of loans is given below:

29.2.24 28.2.23
£    £   
Amounts falling due within one year or on demand:
Bank loans - 36,783

Amounts falling due between one and two years:
Bank loans - 40,734

Amounts falling due between two and five years:
Bank loans 500,000 95,326

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years by instalments - 301,772

11. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 500,000 474,615

12. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax 68,669 50,288

Pencrest Investments Limited (Registered number: 04662380)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

12. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 March 2023 50,288
Provided during year 18,381
Balance at 29 February 2024 68,669

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100

14. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 March 2023 404,039 257,912 661,951
Profit for the year 44,717 - 44,717
Dividends (138,000 ) - (138,000 )
Deferred tax 18,381 - 18,381
Revaluation of property (10,000 ) 10,000 -
Deferred tax provision - (18,381 ) (18,381 )
At 29 February 2024 319,137 249,531 568,668