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Registered Number: 14739805
England and Wales

 

 

 

PENROSE REAL ESTATE LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 17 March 2023

End date: 31 March 2024
Director Mr C S Buckley
Registered Number 14739805
Registered Office 6 Fusion Court
Aberford Road
Leeds
West Yorkshire
LS25 2GH
Accountants UWM Accountants Limited
UWM House
6 Fusion Court
Leeds
LS25 2GH
1
 
 
Notes
 
2024
£
Fixed assets    
Tangible fixed assets 3 153,740 
153,740 
Current assets    
Debtors 4 415 
Cash at bank and in hand 136,723 
137,138 
Creditors: amount falling due within one year 5 (200,825)
Net current assets (63,687)
 
Total assets less current liabilities 90,053 
Creditors: amount falling due after more than one year 6 (89,980)
Net assets 73 
 

Capital and reserves
   
Called up share capital 1 
Fair Value Reserves 7 (1,131)
Profit and loss account 1,203 
Shareholders' funds 73 
 


For the period ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 19 August 2024 and were signed by:


-------------------------------
Mr C S Buckley
Director
2
General Information
Penrose Real Estate Ltd is a private company, limited by shares, registered in England and Wales, registration number 14739805, registration address 6 Fusion Court, Aberford Road, Leeds, West Yorkshire, LS25 2GH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery etc 0%
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the period was 0.
3.

Tangible fixed assets

Cost or valuation Investment properties   Plant and machinery etc   Total
  £   £   £
At 17 March 2023    
Additions 141,646    13,225    154,871 
Disposals    
Revaluations (1,131)     (1,131)
At 31 March 2024 140,515    13,225    153,740 
Depreciation
At 17 March 2023    
Charge for period    
On disposals    
At 31 March 2024    
Net book values
Closing balance as at 31 March 2024 140,515    13,225    153,740 
Opening balance as at 17 March 2023    


4.

Debtors: amounts falling due within one year

2024
£
Other Debtors 415 
415 

5.

Creditors: amount falling due within one year

2024
£
Trade Creditors 3,000 
Taxation and Social Security 282 
Other Creditors 197,543 
200,825 

6.

Creditors: amount falling due after more than one year

2024
£
Bank Loans & Overdrafts 89,980 
89,980 

7.

Fair Value Reserves

2024
£
Fair Value Reserve (1,131)
(1,131)

3