IRIS Accounts Production v24.2.0.383 06847343 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh068473432023-03-31068473432024-03-31068473432023-04-012024-03-31068473432022-03-31068473432022-04-012023-03-31068473432023-03-3106847343ns15:EnglandWales2023-04-012024-03-3106847343ns14:PoundSterling2023-04-012024-03-3106847343ns10:Director12023-04-012024-03-3106847343ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3106847343ns10:SmallEntities2023-04-012024-03-3106847343ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3106847343ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3106847343ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3106847343ns10:FullAccounts2023-04-012024-03-3106847343ns10:Director22023-04-012024-03-3106847343ns10:RegisteredOffice2023-04-012024-03-3106847343ns5:CurrentFinancialInstruments2024-03-3106847343ns5:CurrentFinancialInstruments2023-03-3106847343ns5:Non-currentFinancialInstruments2024-03-3106847343ns5:Non-currentFinancialInstruments2023-03-3106847343ns5:ShareCapital2024-03-3106847343ns5:ShareCapital2023-03-3106847343ns5:RetainedEarningsAccumulatedLosses2024-03-3106847343ns5:RetainedEarningsAccumulatedLosses2023-03-3106847343ns5:PlantMachinery2023-04-012024-03-3106847343ns5:MotorVehicles2023-04-012024-03-3106847343ns5:ComputerEquipment2023-04-012024-03-3106847343ns5:PlantMachinery2023-03-3106847343ns5:MotorVehicles2023-03-3106847343ns5:ComputerEquipment2023-03-3106847343ns5:PlantMachinery2024-03-3106847343ns5:MotorVehicles2024-03-3106847343ns5:ComputerEquipment2024-03-3106847343ns5:PlantMachinery2023-03-3106847343ns5:MotorVehicles2023-03-3106847343ns5:ComputerEquipment2023-03-3106847343ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3106847343ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31
REGISTERED NUMBER: 06847343 (England and Wales)












PENNINGTON, JONES (H.I.) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






PENNINGTON, JONES (H.I.) LIMITED (REGISTERED NUMBER: 06847343)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PENNINGTON, JONES (H.I.) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: K J Pennington
Mrs S G Jones





REGISTERED OFFICE: 36 Straight Mile
Ampfield
Romsey
Hampshire
SO51 9BB





REGISTERED NUMBER: 06847343 (England and Wales)

PENNINGTON, JONES (H.I.) LIMITED (REGISTERED NUMBER: 06847343)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 30,385 25,298

CURRENT ASSETS
Stocks 23,018 23,980
Debtors 5 69,711 33,320
Cash at bank 9,594 5,815
102,323 63,115
CREDITORS
Amounts falling due within one year 6 (104,442 ) (66,300 )
NET CURRENT LIABILITIES (2,119 ) (3,185 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,266

22,113

CREDITORS
Amounts falling due after more than one
year

7

(23,781

)

(17,997

)

PROVISIONS FOR LIABILITIES (7,596 ) (6,325 )
NET LIABILITIES (3,111 ) (2,209 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (4,111 ) (3,209 )
SHAREHOLDERS' FUNDS (3,111 ) (2,209 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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, JONES (H.I.) LIMITED (REGISTERED NUMBER: 06847343)

BALANCE SHEET - continued
31 MARCH 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





K J Pennington - Director


PENNINGTON, JONES (H.I.) LIMITED (REGISTERED NUMBER: 06847343)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Pennington, Jones (H.I.) 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 FRS102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and far view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Going concern
At the balance sheet date the company has net liabilities, and is dependent upon the support of its directors to continue trading. The directors have indicated that their support will continue for a period of at least 12 months from the date of signing these financial statements, and as such the going concern basis has been used.

Turnover
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically dispatched to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% Reducing balance
Motor vehicles - 25% Reducing balance
Computer equipment - Straight line over 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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, JONES (H.I.) LIMITED (REGISTERED NUMBER: 06847343)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Financial assets
The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables 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 financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividend's payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

PENNINGTON, JONES (H.I.) LIMITED (REGISTERED NUMBER: 06847343)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£ £ £ £
COST
At 1 April 2023 1,924 41,890 2,309 46,123
Additions - 17,675 423 18,098
At 31 March 2024 1,924 59,565 2,732 64,221
DEPRECIATION
At 1 April 2023 1,849 16,997 1,979 20,825
Charge for year 75 12,568 368 13,011
At 31 March 2024 1,924 29,565 2,347 33,836
NET BOOK VALUE
At 31 March 2024 - 30,000 385 30,385
At 31 March 2023 75 24,893 330 25,298

The net book value of tangible fixed assets includes £ 28,253 (2023 - £ 22,496 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 68,115 32,416
Other debtors 1,596 904
69,711 33,320

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts 9,534 5,999
Trade creditors 56,575 32,291
Taxation and social security 11,021 11,520
Other creditors 27,312 16,490
104,442 66,300

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Hire purchase contracts 23,781 17,997