Registration number:
for the Year Ended
Pages for filing with Registrar
Pendennis Holdings Limited
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Pendennis Holdings Limited
Company Information
Directors |
R P Jupp J J Jupp |
Registered office |
|
Registered number |
10801105 |
Accountant |
|
Pendennis Holdings Limited
(Registration number: 10801105)
Balance Sheet as at 31 October 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Investments |
1,564,904 |
1,564,904 |
|
Current assets |
|||
Debtors |
11,847 |
11,847 |
|
Cash at bank and in hand |
- |
3,684 |
|
11,847 |
15,531 |
||
Creditors: Amounts falling due within one year |
(661,889) |
(71,771) |
|
Net current liabilities |
(650,042) |
(56,240) |
|
Total assets less current liabilities |
914,862 |
1,508,664 |
|
Creditors: Amounts falling due after more than one year |
(646,195) |
(1,276,890) |
|
Net assets |
268,667 |
231,774 |
|
Capital and reserves |
|||
Called up share capital |
300 |
300 |
|
Profit and loss account |
268,367 |
231,474 |
|
Total equity |
268,667 |
231,774 |
Pendennis Holdings Limited
(Registration number: 10801105)
Balance Sheet as at 31 October 2023
For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised for issue by the
.........................................
J J Jupp
Director
Pendennis Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
Accounting policies |
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Group accounts not prepared
Investments
Investments in subsidiaries are measured at cost less impairment.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Pendennis Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Financial instruments
contractual arrangements entered into. An equity instrument is any contract that gives a residual
interest in the assets of the company after deducting all of its liabilities. Instruments issued by
the company are recorded at the proceeds received, net of direct issue costs.
Compound financial instruments include liability and equity components. The equity component is
assigned the residual of the proceeds of issue after deducting the fair value of the liability
component. All premiums or fees, paid or received, in respect of a financial instrument are
accounted for over the life of the matched underlying asset, liability or cost.
Staff numbers |
The average number of persons employed by the company during the year, was
Investments |
2023 |
2022 |
|
Investments in subsidiaries |
1,564,904 |
|
Pendennis Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Debtors: amounts falling due within one year |
2023 |
2022 |
|
Other debtors |
4,000 |
4,000 |
Directors' loan accounts |
7,847 |
7,847 |
|
11,847 |
Creditors |
2023 |
2022 |
|
Amounts falling due within one year |
||
Bank borrowings |
|
62,502 |
Trade creditors |
|
4,194 |
Accruals |
|
5,075 |
661,889 |
71,771 |
|
Due after one year |
||
Bank borrowings |
- |
636,839 |
Owed to group undertakings |
346,195 |
340,051 |
Other creditors |
300,000 |
300,000 |
646,195 |
1,276,890 |
Pendennis Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
200 |
|
200 |
|
|
100 |
|
100 |
|
|
|
|
Related party transactions |
Transactions with directors |
2023 |
At 1 November 2022 |
Advances to director |
Repayments by director |
At 31 October 2023 |
Director |
( |
- |
- |
( |
2022 |
At 1 November 2021 |
Advances to director |
Repayments by director |
At 31 October 2022 |
Director |
( |
- |
- |
( |
Post balance sheet event |
In November 2023, the bank overdraft of £698,000, was converted into a long term loan. The new loan is repayable over 5 years, with the final repayment date being 23 November 2028 with interest charged at 3.25% above the Bank of England Base Rate.