Registered number
09309047
Penguin Properties (Lettings & Management) Ltd
Filleted Accounts
30 November 2023
Penguin Properties (Lettings & Management) Ltd
Registered number: 09309047
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 319 425
Current assets
Cash at bank and in hand 13,512 20,949
Creditors: amounts falling due within one year 5 (12,817) (16,516)
Net current assets 695 4,433
Net assets 1,014 4,858
Capital and reserves
Called up share capital 1 1
Profit and loss account 1,013 4,857
Shareholder's funds 1,014 4,858
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 her 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.
Mrs Sharon Phillips
Director
Approved by the board on 30 January 2024
Penguin Properties (Lettings & Management) Ltd
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 rendering of services. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 over 5 years
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 44,000
At 30 November 2023 44,000
Amortisation
At 1 December 2022 44,000
At 30 November 2023 44,000
Net book value
At 30 November 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
Cost £
At 1 December 2022 7,494
At 30 November 2023 7,494
Depreciation
At 1 December 2022 7,069
Charge for the year 106
At 30 November 2023 7,175
Net book value
At 30 November 2023 319
At 30 November 2022 425
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 1,533 3,079
Other creditors 11,284 13,437
12,817 16,516
6 Other information
Penguin Properties (Lettings & Management) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Longacre
6 Queens Close
Northill
Biggleswade
SG18 9AR
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