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REGISTERED NUMBER: 08367713 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

PENNINGTON BUILDING CONTRACTORS LIMITED

PENNINGTON BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 08367713)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PENNINGTON BUILDING CONTRACTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: Mrs L A Pennington
Mr D J Pennington





REGISTERED OFFICE: Carlyle House
Ramsdell Road
Monk Sherborne
Tadley
Hampshire
RG26 5HS





REGISTERED NUMBER: 08367713 (England and Wales)






PENNINGTON BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 08367713)

BALANCE SHEET
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 187,755 257,678
187,755 257,678

CURRENT ASSETS
Debtors 7 1,451,782 1,461,634
Cash at bank 2,513,213 2,786,770
3,964,995 4,248,404
CREDITORS
Amounts falling due within one year 8 1,030,973 1,480,943
NET CURRENT ASSETS 2,934,022 2,767,461
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,121,777

3,025,139

CREDITORS
Amounts falling due after more than one
year

9

(9,458

)

(47,291

)

PROVISIONS FOR LIABILITIES (52,478 ) (48,959 )
NET ASSETS 3,059,841 2,928,889

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,059,741 2,928,789
SHAREHOLDERS' FUNDS 3,059,841 2,928,889

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

PENNINGTON BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 08367713)

BALANCE SHEET - continued
30 APRIL 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 April 2024 and were signed on its behalf by:





Mr D J Pennington - Director


PENNINGTON BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 08367713)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. STATUTORY INFORMATION

Pennington Building Contractors 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.

This is the first year that the company has presented its financial statements under Section 1A "Small Entities" of Financial Reporting Standard 102 (FRS 102 Section 1A) issued by the Financial Reporting Council. The last financial statements, for the year ended 30th April 2016, were prepared under previous UK GAAP. The transition date to FRS 102 Section 1A is therefore 1st May 2015.

Adopting FRS 102 Section 1A has not resulted in any changes to the company's existing accounting policies which were being applied prior to transition. There was no change to the reported profit and loss account or closing equity position of the business for the year ended 30th April 2016 as a result of the transition, nor to opening equity position at the date of transition.

Turnover
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

All fixed assets are initially recorded at cost.

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.


PENNINGTON BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 08367713)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


3. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 192,220
AMORTISATION
At 1 May 2022
and 30 April 2023 192,220
NET BOOK VALUE
At 30 April 2023 -
At 30 April 2022 -

PENNINGTON BUILDING CONTRACTORS LIMITED (REGISTERED NUMBER: 08367713)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2022 135,326 775 302,044 10,876 449,021
Additions 10,000 - 25,500 2,450 37,950
Disposals (21,826 ) - (38,000 ) - (59,826 )
At 30 April 2023 123,500 775 289,544 13,326 427,145
DEPRECIATION
At 1 May 2022 62,234 228 122,997 5,884 191,343
Charge for year 19,727 137 64,995 1,594 86,453
Eliminated on disposal (18,255 ) - (20,151 ) - (38,406 )
At 30 April 2023 63,706 365 167,841 7,478 239,390
NET BOOK VALUE
At 30 April 2023 59,794 410 121,703 5,848 187,755
At 30 April 2022 73,092 547 179,047 4,992 257,678

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 67,791 429,285
Amounts owed by group undertakings 452,669 400,875
Other debtors 931,322 631,474
1,451,782 1,461,634

Included in other debtors is £nil (2022: £nil) in relation to prepayments and accrued income.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 37,833 37,834
Trade creditors 111,092 280,765
Taxation and social security 168,419 160,603
Other creditors 713,629 1,001,741
1,030,973 1,480,943

Included in other creditors is £633,365 (2022: £811,002) in relation to accruals and deferred income.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 9,458 47,291