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Registered Number: 13047617
England and Wales

 

 

 

PENNELL-TUTILL LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 6,000    8,999 
Tangible fixed assets 4 4,895    3,478 
10,895    12,477 
Current assets      
Stocks 5 500    200 
Debtors 6 19,197    2,313 
Cash at bank and in hand 4,345    12,558 
24,042    15,071 
Creditors: amount falling due within one year 7 (28,280)   (21,613)
Net current assets (4,238)   (6,542)
 
Total assets less current liabilities 6,657    5,935 
Creditors: amount falling due after more than one year 8 (5,000)   (5,000)
Net assets 1,657    935 
 

Capital and reserves
     
Called up share capital 9 100    100 
Profit and loss account 1,557    835 
Shareholders' funds 1,657    935 
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge 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 board of directors on 27 August 2024 and were signed on its behalf by:


-------------------------------
J G Pennell-Tutill
Director
-------------------------------
E P Pennell-Tutill
Director
1
General Information
Pennell-Tutill Ltd is a private company, limited by shares, registered in England and Wales, registration number 13047617, registration address 23 Wharmlands Road , Newcastle Upon Tyne, Northumberland, NE15 7UB.

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.
Taxation
Taxation represents the sum of tax currently payable. 
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.

Intangible assets
Intangible assets are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Franchise Fees
Franchise Fees is stated at cost less amortization. Amortization is calculated on a straight line basis over the estimated expected useful economic life of the Franchise Fees of 5 years.
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:
Furniture and Fittings 25% Reducing Balance
Computer Equipment 33% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 13 (2022 : 11).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 December 2022 14,999    14,999 
Additions  
Disposals  
At 30 November 2023 14,999    14,999 
Amortisation
At 01 December 2022 6,000    6,000 
Charge for year 2,999    2,999 
On disposals  
At 30 November 2023 8,999    8,999 
Net book values
At 30 November 2023 6,000    6,000 
At 30 November 2022 8,999    8,999 


4.

Tangible fixed assets

Cost or valuation Furniture and Fittings   Computer Equipment   Total
  £   £   £
At 01 December 2022 991    3,575    4,566 
Additions   3,138    3,138 
Disposals    
At 30 November 2023 991    6,713    7,704 
Depreciation
At 01 December 2022 31    1,057    1,088 
Charge for year 239    1,482    1,721 
On disposals    
At 30 November 2023 270    2,539    2,809 
Net book values
Closing balance as at 30 November 2023 721    4,174    4,895 
Opening balance as at 01 December 2022 960    2,518    3,478 


5.

Stocks

2023
£
  2022
£
Stocks 500    200 
500    200 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Prepayments & Accrued Income   800 
Corporation Tax 61    61 
Directors' Current Accounts 19,136    1,452 
19,197    2,313 
Loans to Directors
As at the year-end the director E Pennell-Tutill owed the company £10,218 (2022 - £1,452). This advance is made up of various and numerous transactions. The loan is unsecured, interest-free with no formal repayment schedule.

As at the year-end the director J Pennell-Tutill owed the company £9,044 (2022 - £0). This advance is made up of various and numerous transactions. The loan is unsecured, interest-free with no formal repayment schedule.

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 1,515   
PAYE & Social Security 986    735 
Accrued Expenses 2,400    5,434 
Other Creditors 3,000    4,000 
Wages & Salaries Control Account 276    4,926 
VAT 20,103    6,518 
28,280    21,613 

8.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Other Creditors 5,000    5,000 
5,000    5,000 

9.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

2