2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 13,341 831 1,395 12,777 4,593 2,391 852 6,132 6,645 8,748 xbrli:pure xbrli:shares iso4217:GBP 09859937 2023-04-01 2024-03-31 09859937 2024-03-31 09859937 2023-03-31 09859937 2022-11-01 2023-03-31 09859937 2023-03-31 09859937 2022-10-31 09859937 core:FurnitureFittings 2023-04-01 2024-03-31 09859937 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 09859937 bus:Director1 2023-04-01 2024-03-31 09859937 core:FurnitureFittings 2023-03-31 09859937 core:FurnitureFittings 2024-03-31 09859937 core:WithinOneYear 2024-03-31 09859937 core:WithinOneYear 2023-03-31 09859937 core:ShareCapital 2024-03-31 09859937 core:ShareCapital 2023-03-31 09859937 core:RetainedEarningsAccumulatedLosses 2024-03-31 09859937 core:RetainedEarningsAccumulatedLosses 2023-03-31 09859937 core:FurnitureFittings 2023-03-31 09859937 bus:Director1 2023-03-31 09859937 bus:Director1 2024-03-31 09859937 bus:Director1 2022-10-31 09859937 bus:Director1 2023-03-31 09859937 bus:Director1 2022-11-01 2023-03-31 09859937 bus:SmallEntities 2023-04-01 2024-03-31 09859937 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09859937 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09859937 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09859937 bus:FullAccounts 2023-04-01 2024-03-31 09859937 bus:OrdinaryShareClass1 2024-03-31 09859937 bus:OrdinaryShareClass1 2023-03-31
COMPANY REGISTRATION NUMBER: 09859937
Pengwern Land Limited
Filleted Unaudited Financial Statements
31 March 2024
Pengwern Land Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
6,645
8,748
Current assets
Debtors
6
1,226,965
1,148,137
Cash at bank and in hand
164,862
312,564
-------------
-------------
1,391,827
1,460,701
Creditors: amounts falling due within one year
7
354,875
436,370
-------------
-------------
Net current assets
1,036,952
1,024,331
-------------
-------------
Total assets less current liabilities
1,043,597
1,033,079
-------------
-------------
Net assets
1,043,597
1,033,079
-------------
-------------
Capital and reserves
Called up share capital
8
500
500
Profit and loss account
1,043,097
1,032,579
-------------
-------------
Shareholders funds
1,043,597
1,033,079
-------------
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Pengwern Land Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 6 August 2024 , and are signed on behalf of the board by:
Mr B A Boutwood
Director
Company registration number: 09859937
Pengwern Land Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kenneth Lodge, Kenneth Court, Dogpole, Shrewsbury, Shropshire, SY1 1ET.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% straight line
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, which the transaction is measured at the present value of the future receipts discounted at market rate of interest. Financial assets classified as receivable within one year are not amortised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Fixtures and fittings
£
Cost
At 1 April 2023
13,341
Additions
831
Disposals
( 1,395)
---------
At 31 March 2024
12,777
---------
Depreciation
At 1 April 2023
4,593
Charge for the year
2,391
Disposals
( 852)
---------
At 31 March 2024
6,132
---------
Carrying amount
At 31 March 2024
6,645
---------
At 31 March 2023
8,748
---------
6. Debtors
2024
2023
£
£
Trade debtors
80,884
217,928
Other debtors
1,146,081
930,209
-------------
-------------
1,226,965
1,148,137
-------------
-------------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
93
Social security and other taxes
38,243
48,420
Other creditors
316,632
387,857
----------
----------
354,875
436,370
----------
----------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
500
500
500
500
----
----
----
----
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr B A Boutwood
697,356
161,710
( 382)
858,684
----------
----------
----
----------
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr B A Boutwood
650,968
46,518
( 130)
697,356
----------
---------
----
----------
The non-interest bearing loan is repayable on demand.
10. Related party transactions
Included in creditors due within one year is a loan of £243,364 (2023 - £243,364) from Pengwern Estates Limited, a company under common control. The non-interest bearing loan is repayable on demand.