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REGISTERED NUMBER: 06725320 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PENMAN CONSULTING LIMITED

PENMAN CONSULTING LIMITED (REGISTERED NUMBER: 06725320)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PENMAN CONSULTING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M G Penman
S Penman





SECRETARY: S Penman





REGISTERED OFFICE: Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ





REGISTERED NUMBER: 06725320 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

PENMAN CONSULTING LIMITED (REGISTERED NUMBER: 06725320)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 59,140 69,936
Investments 5 876,212 876,212
Investment property 6 287,222 -
1,222,574 946,148

CURRENT ASSETS
Debtors 7 1,177,742 1,096,964
Cash at bank and in hand 645,256 1,383,094
1,822,998 2,480,058
CREDITORS
Amounts falling due within one year 8 310,058 499,259
NET CURRENT ASSETS 1,512,940 1,980,799
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,735,514

2,926,947

PROVISIONS FOR LIABILITIES 14,785 17,484
NET ASSETS 2,720,729 2,909,463

CAPITAL AND RESERVES
Called up share capital 9 250,040 250,000
Share premium 280 -
Retained earnings 2,470,409 2,659,463
SHAREHOLDERS' FUNDS 2,720,729 2,909,463

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

PENMAN CONSULTING LIMITED (REGISTERED NUMBER: 06725320)

BALANCE SHEET - continued
31 DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 April 2024 and were signed on its behalf by:





M G Penman - Director


PENMAN CONSULTING LIMITED (REGISTERED NUMBER: 06725320)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Penman Consulting 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.

Turnover
Turnover represents net invoiced sale of services being consultancy and product stewardship, excluding value added tax.

Revenue is calculated on a time spent or contract basis and invoiced at the stage of completion, with accrued income adjusted as necessary.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - over the lease term
Fixtures & equipment - Straight line over 5 years
Computer equipment - Straight line (over 3 years)

Investment property
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 Statement of Income and Retained Earnings, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

PENMAN CONSULTING LIMITED (REGISTERED NUMBER: 06725320)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Investments
Fixed asset investments in subsidiaries are stated at cost less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2022 - 37 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 331,088
Additions 39,722
At 31 December 2023 370,810
DEPRECIATION
At 1 January 2023 261,152
Charge for year 50,518
At 31 December 2023 311,670
NET BOOK VALUE
At 31 December 2023 59,140
At 31 December 2022 69,936

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 876,212
NET BOOK VALUE
At 31 December 2023 876,212
At 31 December 2022 876,212

PENMAN CONSULTING LIMITED (REGISTERED NUMBER: 06725320)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Penman Consultancy BVBA
Registered office: Avenue des Arts 10,1210 Brussels, Belgium
Nature of business: Consultants
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 866,110 770,405
Profit for the year 95,705 35,056

Active Steward Limited
Registered office: Medina House, 2 Station Avenue, Bridlington, YO16 4LZ, United Kingdom
Nature of business: Software
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 699,383 610,422
Profit for the year 88,961 130,944

Penman Consulting NL BV
Registered office: Weena-zuid 130,3012 NC Rotterdam, The Netherlands
Nature of business: Consulting
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves (178,718 ) (194,297 )
Profit/(loss) for the year 15,579 (196,030 )

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 287,222
At 31 December 2023 287,222
NET BOOK VALUE
At 31 December 2023 287,222

PENMAN CONSULTING LIMITED (REGISTERED NUMBER: 06725320)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 132,602 125,462
Amounts owed by group undertakings 965,665 783,696
Other debtors 79,475 187,806
1,177,742 1,096,964

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 39,327 13,774
Amounts owed to group undertakings 44,429 35,880
Taxation and social security 96,885 85,435
Other creditors 129,417 364,170
310,058 499,259

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
94,985 Ordinary A £1 94,985 94,985
94,985 Ordinary B £1 94,985 94,985
10,000 Ordinary C £1 10,000 10,000
10,000 Ordinary D £1 10,000 10,000
20,000 Ordinary E £1 20,000 20,000
20,000 Ordinary F £1 20,000 20,000
10 Ordinary G £1 10 10
10 Ordinary H £1 10 10
10 Ordinary I £1 10 10
10 Ordinary J £1 10 -
10 Ordinary K £1 10 -
10 Ordinary L £1 10 -
10 Ordinary M £1 10 -
250,040 250,000

The following shares were issued during the year:

10 Ordinary J shares of £1 for cash of £80
10 Ordinary K shares of £1 for cash of £80
10 Ordinary L shares of £1 for cash of £80
10 Ordinary M shares of £1 for cash of £80

10. CAPITAL COMMITMENTS
31.12.23 31.12.22
£    £   
Contracted but not provided for in the
financial statements - 286,295