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Penelope Allen Design Limited

Financial Statements for the Year Ended 31 August 2023






Penelope Allen Design Limited

Company Information
for the Year Ended 31 August 2023







DIRECTOR: P L Allen-Roberts





REGISTERED OFFICE: 10 Henfold Cottages
Henfold Lane
Newdigate
Surrey
RH5 5AG





REGISTERED NUMBER: 08182626 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Penelope Allen Design Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Penelope Allen Design Limited for the year ended 31 August 2023 which comprise the Profit & Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Penelope Allen Design Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Penelope Allen Design Limited and state those matters that we have agreed to state to the director of Penelope Allen Design Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Penelope Allen Design Limited and its director for our work or for this report.

It is your duty to ensure that Penelope Allen Design Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Penelope Allen Design Limited. You consider that Penelope Allen Design Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Penelope Allen Design Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


23 February 2024

Penelope Allen Design Limited (Registered number: 08182626)

Balance Sheet
31 August 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 2,000 3,000
Debtors 4 14,529 15,540
Cash at bank 4,088 6,760
20,617 25,300
CREDITORS
Amounts falling due within one year 5 79,713 69,293
NET CURRENT LIABILITIES (59,096 ) (43,993 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(59,096

)

(43,993

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (59,196 ) (44,093 )
SHAREHOLDERS' FUNDS (59,096 ) (43,993 )

Penelope Allen Design Limited (Registered number: 08182626)

Balance Sheet - continued
31 August 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 February 2024 and were signed by:





P L Allen-Roberts - Director


Penelope Allen Design Limited (Registered number: 08182626)

Notes to the Financial Statements
for the Year Ended 31 August 2023


1. 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.

The accounts have been prepared on the going concern basis as the company has the ongoing support of the Director, who is the main creditor of the company.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax. Turnover in respect of ongoing contracts for uninvoiced goods and services is recognised by reference to the stage of completion of the contact at the year end.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% straight line

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 Profit & Loss Account, 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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Penelope Allen Design Limited (Registered number: 08182626)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


3. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 September 2022
and 31 August 2023 1,650
DEPRECIATION
At 1 September 2022
and 31 August 2023 1,650
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors & prepayments 14,529 15,147
VAT - 268
Prepayments - 125
14,529 15,540

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,583 162
Taxes & social security costs 365 766
Other creditors & accruals 75,765 68,365
79,713 69,293