IRIS Accounts Production v24.2.0.383 01659990 Board of Directors 1.2.23 31.1.24 31.1.24 0 0 true false true false false true false Ordinary A 1.00000 Ordinary B 1.00000 Ordinary C 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh016599902023-01-31016599902024-01-31016599902023-02-012024-01-31016599902022-01-31016599902022-02-012023-01-31016599902023-01-3101659990ns15:EnglandWales2023-02-012024-01-3101659990ns14:PoundSterling2023-02-012024-01-3101659990ns10:Director12023-02-012024-01-3101659990ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3101659990ns10:SmallEntities2023-02-012024-01-3101659990ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3101659990ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3101659990ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3101659990ns10:FullAccounts2023-02-012024-01-3101659990ns10:OrdinaryShareClass22023-02-012024-01-3101659990ns10:OrdinaryShareClass32023-02-012024-01-3101659990ns10:OrdinaryShareClass42023-02-012024-01-3101659990ns10:Director22023-02-012024-01-3101659990ns10:Director32023-02-012024-01-3101659990ns10:CompanySecretary12023-02-012024-01-3101659990ns10:RegisteredOffice2023-02-012024-01-3101659990ns5:CurrentFinancialInstruments2024-01-3101659990ns5:CurrentFinancialInstruments2023-01-3101659990ns5:Non-currentFinancialInstruments2024-01-3101659990ns5:Non-currentFinancialInstruments2023-01-3101659990ns5:ShareCapital2024-01-3101659990ns5:ShareCapital2023-01-3101659990ns5:RevaluationReserve2024-01-3101659990ns5:RevaluationReserve2023-01-3101659990ns5:RetainedEarningsAccumulatedLosses2024-01-3101659990ns5:RetainedEarningsAccumulatedLosses2023-01-3101659990ns5:FurnitureFittings2023-02-012024-01-3101659990ns5:MotorVehicles2023-02-012024-01-3101659990ns5:ComputerEquipment2023-02-012024-01-3101659990ns5:LandBuildings2023-01-3101659990ns5:ShortLeaseholdAssetsns5:LandBuildings2023-01-3101659990ns5:FurnitureFittings2023-01-3101659990ns5:LandBuildings2023-02-012024-01-3101659990ns5:ShortLeaseholdAssetsns5:LandBuildings2023-02-012024-01-3101659990ns5:LandBuildings2024-01-3101659990ns5:ShortLeaseholdAssetsns5:LandBuildings2024-01-3101659990ns5:FurnitureFittings2024-01-3101659990ns5:LandBuildings2023-01-3101659990ns5:ShortLeaseholdAssetsns5:LandBuildings2023-01-3101659990ns5:FurnitureFittings2023-01-3101659990ns5:MotorVehicles2023-01-3101659990ns5:ComputerEquipment2023-01-3101659990ns5:MotorVehicles2024-01-3101659990ns5:ComputerEquipment2024-01-3101659990ns5:MotorVehicles2023-01-3101659990ns5:ComputerEquipment2023-01-3101659990ns5:CostValuation2023-01-3101659990ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3101659990ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3101659990ns5:Secured2024-01-3101659990ns5:Secured2023-01-3101659990ns10:OrdinaryShareClass22024-01-3101659990ns10:OrdinaryShareClass32024-01-3101659990ns10:OrdinaryShareClass42024-01-3101659990ns5:RevaluationReserve2023-01-31016599901ns10:Director12023-01-31016599901ns10:Director12022-01-31016599901ns10:Director12023-02-012024-01-31016599901ns10:Director12022-02-012023-01-31016599901ns10:Director12024-01-31016599901ns10:Director12023-01-3101659990ns10:Director222023-01-3101659990ns10:Director222022-01-3101659990ns10:Director222023-02-012024-01-3101659990ns10:Director222022-02-012023-01-3101659990ns10:Director222024-01-3101659990ns10:Director222023-01-31
REGISTERED NUMBER: 01659990 (England and Wales)














Financial Statements

for the Year Ended 31 January 2024

for

Penny Lane Estates Ltd

Penny Lane Estates Ltd (Registered number: 01659990)

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Penny Lane Estates Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: J B Kaitiff
Mrs S S Kaitiff
Ms G S Stone





SECRETARY: Mrs S S Kaitiff





REGISTERED OFFICE: Oriel House
2 - 8 Oriel Road
Bootle
Merseyside
L20 7EP





REGISTERED NUMBER: 01659990 (England and Wales)





ACCOUNTANTS: SB&P
Chartered Accountants
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

Penny Lane Estates Ltd (Registered number: 01659990)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,950,204 1,950,271
Investments 5 25,000 25,000
1,975,204 1,975,271

CURRENT ASSETS
Debtors 6 269,661 330,557
Cash at bank 58,317 59,609
327,978 390,166
CREDITORS
Amounts falling due within one year 7 882,239 834,840
NET CURRENT LIABILITIES (554,261 ) (444,674 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,420,943 1,530,597

CREDITORS
Amounts falling due after more than one year 8 (643,641 ) (693,449 )

PROVISIONS FOR LIABILITIES (50,170 ) (50,170 )
NET ASSETS 727,132 786,978

CAPITAL AND RESERVES
Called up share capital 10 300 300
Revaluation reserve 11 435,635 435,635
Retained earnings 291,197 351,043
SHAREHOLDERS' FUNDS 727,132 786,978

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

Penny Lane Estates Ltd (Registered number: 01659990)

Balance Sheet - continued
31 January 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:





J B Kaitiff - Director


Penny Lane Estates Ltd (Registered number: 01659990)

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. STATUTORY INFORMATION

Penny Lane Estates Ltd 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Land and Buildings consist of investment properties which were revalued on an open market basis in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3. EMPLOYEES AND DIRECTORS

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

Penny Lane Estates Ltd (Registered number: 01659990)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Short and
property leasehold fittings
£    £    £   
COST OR VALUATION
At 1 February 2023
and 31 January 2024 1,725,000 225,000 4,711
DEPRECIATION
At 1 February 2023 - - 4,661
Charge for year - - 12
At 31 January 2024 - - 4,673
NET BOOK VALUE
At 31 January 2024 1,725,000 225,000 38
At 31 January 2023 1,725,000 225,000 50

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 February 2023
and 31 January 2024 2,000 2,276 1,958,987
DEPRECIATION
At 1 February 2023 1,845 2,210 8,716
Charge for year 38 17 67
At 31 January 2024 1,883 2,227 8,783
NET BOOK VALUE
At 31 January 2024 117 49 1,950,204
At 31 January 2023 155 66 1,950,271

Cost or valuation at 31 January 2024 is represented by:

Fixtures
Freehold Short and
property leasehold fittings
£    £    £   
Valuation in 1999 47,354 68,489 -
Valuation in 2014 114,109 37,500 -
Valuation in 2021 124,408 39,000 -
Cost 1,439,129 80,011 4,711
1,725,000 225,000 4,711

Penny Lane Estates Ltd (Registered number: 01659990)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 1999 - - 115,843
Valuation in 2014 - - 151,609
Valuation in 2021 - - 163,408
Cost 2,000 2,276 1,528,127
2,000 2,276 1,958,987

If land and buildings had not been revalued they would have been included at the following historical cost:

31.1.24 31.1.23
£    £   
Cost 1,519,140 1,519,140

Freehold property was valued on an open market basis on 31 January 2021 by the directors .

Freehold property consists of investment properties.

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2023
and 31 January 2024 25,000
NET BOOK VALUE
At 31 January 2024 25,000
At 31 January 2023 25,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 36 36
Other debtors 12,144 12,144
Directors' current accounts 232,545 293,441
Tax 24,936 24,936
269,661 330,557

Penny Lane Estates Ltd (Registered number: 01659990)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 24,897 -
Amounts owed to group undertakings 84,736 75,621
Taxation and social security 26,306 46,767
Other creditors 746,300 712,452
882,239 834,840

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 293,641 343,449
Other creditors 350,000 350,000
643,641 693,449

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 133,313 133,326
Other loans more 5yrs instal 350,000 350,000
483,313 483,326

9. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 318,538 343,449

The bank loans are secured on the properties held in the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
225 Ordinary A £1 225 225
50 Ordinary B £1 50 50
25 Ordinary C £1 25 25
300 300

Penny Lane Estates Ltd (Registered number: 01659990)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


11. RESERVES
Revaluation
reserve
£   
At 1 February 2023
and 31 January 2024 435,635

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
J B Kaitiff
Balance outstanding at start of year 225,284 120,505
Amounts advanced 64,732 254,279
Amounts repaid (78,378 ) (149,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 211,638 225,284

Mrs S S Kaitiff
Balance outstanding at start of year 68,156 42,906
Amounts advanced 17,500 50,000
Amounts repaid (64,750 ) (24,750 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 20,906 68,156