IRIS Accounts Production v24.1.9.2 03680839 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 generating income from a tearoom, gift shop and other trading activities carried out at Painshill Park. ++ The company gifts all of its taxable profits to its parent Painshill Park Trust Limited, a registered charity. Any losses incurred during the financial year are retained by the company. false true true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh036808392022-12-31036808392023-12-31036808392023-01-012023-12-31036808392021-12-31036808392022-01-012022-12-31036808392022-12-3103680839ns15:EnglandWales2023-01-012023-12-3103680839ns14:PoundSterling2023-01-012023-12-3103680839ns10:Director12023-01-012023-12-3103680839ns10:Director22023-01-012023-12-3103680839ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3103680839ns10:SmallEntities2023-01-012023-12-3103680839ns10:Audited2023-01-012023-12-3103680839ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3103680839ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3103680839ns10:FullAccounts2023-01-012023-12-3103680839ns10:OrdinaryShareClass12023-01-012023-12-3103680839ns10:Director32023-01-012023-12-3103680839ns10:RegisteredOffice2023-01-012023-12-3103680839ns5:CurrentFinancialInstruments2023-12-3103680839ns5:CurrentFinancialInstruments2022-12-3103680839ns5:ShareCapital2023-12-3103680839ns5:ShareCapital2022-12-3103680839ns5:ShareCapital2021-12-3103680839ns5:RetainedEarningsAccumulatedLosses2021-12-3103680839ns5:RetainedEarningsAccumulatedLosses2022-01-012022-12-3103680839ns5:RetainedEarningsAccumulatedLosses2022-12-3103680839ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-3103680839ns5:RetainedEarningsAccumulatedLosses2023-12-3103680839ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3103680839ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3103680839ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 03680839 (England and Wales)















Painshill Enterprises Limited

Report of the Directors and

Audited Financial Statements for the Year Ended 31st December 2023






Painshill Enterprises Limited (Registered number: 03680839)

Contents of the Financial Statements
for the Year Ended 31st December 2023










Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 3

Statement of Comprehensive Income 6

Balance Sheet 7

Statement of Changes in Equity 8

Notes to the Financial Statements 9


Painshill Enterprises Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: Mr Richard Reay-Smith D.L
Mr Ian Sampson J.P
Dr David Taylor MA FSA





REGISTERED OFFICE: Painshill Park
Portsmouth Road
Cobham
Surrey
KT11 1JE





REGISTERED NUMBER: 03680839 (England and Wales)





AUDITORS: Sheen Stickland
Chartered Accountants
Statutory Auditors
7 East Pallant
Chichester
West Sussex
PO19 1TR

Painshill Enterprises Limited (Registered number: 03680839)

Report of the Directors
for the Year Ended 31st December 2023


The directors present their report with the financial statements of the company for the year ended 31st December 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st January 2023 to the date of this report.

Mr Richard Reay-Smith D.L
Mr Ian Sampson J.P
Dr David Taylor MA FSA

Neither of the directors had any shareholding interest in the company during the year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Sheen Stickland, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

BY ORDER OF THE BOARD:





Mr Richard Reay-Smith D.L - Director


24th April 2024

Report of the Independent Auditors to the Members of
Painshill Enterprises Limited


Opinion
We have audited the financial statements of Painshill Enterprises Limited (the 'company') for the year ended 31st December 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31st December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Painshill Enterprises Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Enquiry of management, those charged with governance and the entity's solicitors around actual and potential litigation and claims;
- Enquiry of entity's staff to identify any instances of non-compliance with laws and regulations;
- Reviewing minutes of meetings of those charged with governance;
- Reviewing financial statement disclosures and testing to supporting documentation to assess
compliance with applicable laws and regulations;
- Auditing the risk of management override of controls including through testing journal entries and other
adjustments for appropriateness and evaluating the business rational of significant transactions outside
the normal course of business.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Painshill Enterprises Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Paul Wright FCA DChA (Senior Statutory Auditor)
for and on behalf of Sheen Stickland
Chartered Accountants
Statutory Auditors
7 East Pallant
Chichester
West Sussex
PO19 1TR

24th April 2024

Painshill Enterprises Limited (Registered number: 03680839)

Statement of Comprehensive Income
for the Year Ended 31st December 2023

2023 2022
Notes £    £   

TURNOVER 732,056 878,242

Cost of sales 297,858 253,693
GROSS PROFIT 434,198 624,549

Administrative expenses 277,740 261,425
OPERATING PROFIT and
PROFIT BEFORE TAXATION 156,458 363,124

Tax on profit 5 - -
PROFIT FOR THE FINANCIAL YEAR 156,458 363,124

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

156,458

363,124

Painshill Enterprises Limited (Registered number: 03680839)

Balance Sheet
31st December 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 6 40,298 37,480
Debtors 7 18,153 11,382
Cash at bank and in hand 71,432 287,814
129,883 336,676
CREDITORS
Amounts falling due within one year 8 129,882 336,675
NET CURRENT ASSETS 1 1
TOTAL ASSETS LESS CURRENT
LIABILITIES

1

1

CAPITAL AND RESERVES
Called up share capital 9 1 1
SHAREHOLDERS' FUNDS 1 1

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the board the Board of Directors and authorised for issue on 24th April 2024 and were signed on its behalf by:




Mr Richard Reay-Smith D.L - Director



Mr Ian Sampson J.P - Director


Painshill Enterprises Limited (Registered number: 03680839)

Statement of Changes in Equity
for the Year Ended 31st December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st January 2022 1 - 1

Changes in equity
Total comprehensive income - 363,124 363,124
Deed of covenant - (363,124 ) (363,124 )
Balance at 31st December 2022 1 - 1

Changes in equity
Total comprehensive income - 156,458 156,458
Deed of covenant - (156,458 ) (156,458 )
Balance at 31st December 2023 1 - 1

Painshill Enterprises Limited (Registered number: 03680839)

Notes to the Financial Statements
for the Year Ended 31st December 2023


1. STATUTORY INFORMATION

Painshill Enterprises 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.

2. 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.

Financial reporting standard FRS 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

- the requirements of Section 7 Statement of Cash Flows.

Turnover
Turnover represents sales invoiced during the year and is stated net of Value Added Tax.

Stocks
Stock is stated at the lower of cost and net realisable value.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 17 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Auditors' remuneration 1,763 1,450

5. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 31st December 2023 nor for the year ended 31st December 2022.

6. STOCKS
2023 2022
£    £   
Stocks 40,298 37,480

Painshill Enterprises Limited (Registered number: 03680839)

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


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 17,753 11,382
Prepayments and accrued income 400 -
18,153 11,382

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 18,773 18,507
Amounts owed to group undertakings 95,901 306,649
Accruals and deferred income 15,208 11,519
129,882 336,675

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary 1 1 1

10. RESERVES
Retained
earnings
£   

Profit for the year 156,458
Deed of covenant (156,458 )
At 31st December 2023 -

11. RELATED PARTY DISCLOSURES

In respect of the Company's 100% parent, Painshill Park Trust Limited, the Company has taken advantage of the exemptions offered by FRS102, S33.1A, as it is a wholly owned subsidiary.

12. ULTIMATE CONTROLLING PARTY



The ultimate parent company and controlling party is Painshill Park Trust Limited, a charity incorporated in the United Kingdom.