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REGISTERED NUMBER: 04900988 (England and Wales)














Financial Statements

for the Year Ended 31 January 2024

for

Penny Lane 2001 Ltd

Penny Lane 2001 Ltd (Registered number: 04900988)

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 2001 Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: J B Kaitiff
Ms G Stone





SECRETARY: Mrs S S Kaitiff





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





REGISTERED NUMBER: 04900988 (England and Wales)





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

Penny Lane 2001 Ltd (Registered number: 04900988)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 300,000 300,000

CURRENT ASSETS
Debtors 5 89,935 88,320
Cash at bank 10,304 9,869
100,239 98,189
CREDITORS
Amounts falling due within one year 6 18,358 30,643
NET CURRENT ASSETS 81,881 67,546
TOTAL ASSETS LESS CURRENT LIABILITIES 381,881 367,546

CREDITORS
Amounts falling due after more than one year 7 (158,257 ) (154,331 )

PROVISIONS FOR LIABILITIES (7,914 ) (7,914 )
NET ASSETS 215,710 205,301

CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 128,890 128,890
Retained earnings 86,720 76,311
SHAREHOLDERS' FUNDS 215,710 205,301

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 2001 Ltd (Registered number: 04900988)

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 2001 Ltd (Registered number: 04900988)

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


1. STATUTORY INFORMATION

Penny Lane 2001 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
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".

Going concern
The company meets its day to day working capital requirements by support from its parent company. No adjustments have been made to reflect the position if such support was withdrawn. This support is expected to continue for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1 February 2023
and 31 January 2024 300,000
NET BOOK VALUE
At 31 January 2024 300,000
At 31 January 2023 300,000

Penny Lane 2001 Ltd (Registered number: 04900988)

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


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 January 2024 is represented by:

Land and
buildings
£   
2017
Valuation in 2021 52,250
Cost 171,110
300,000

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

31.1.24 31.1.23
£    £   
Cost 171,110 171,110

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

Freehold property consists of investment properties.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 585 585
Amounts owed by group undertakings 84,736 75,621
Other debtors 4,614 12,114
89,935 88,320

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 6,971 17,868
Trade creditors - (1 )
Taxation and social security 2,466 4,089
Other creditors 8,921 8,687
18,358 30,643

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 158,257 154,331

Penny Lane 2001 Ltd (Registered number: 04900988)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.1.24 31.1.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 137,344 82,860

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 165,228 172,199

The bank loan is secured by way of a mortgage over the property to which it relates.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Revaluation
reserve
£   
At 1 February 2023
and 31 January 2024 128,890