1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,225 973 365 1,338 887 1,252 xbrli:pure xbrli:shares iso4217:GBP 04206104 2023-02-01 2024-03-31 04206104 2024-03-31 04206104 2023-01-31 04206104 2022-02-01 2023-01-31 04206104 2023-01-31 04206104 2022-01-31 04206104 bus:Director4 2023-02-01 2024-03-31 04206104 core:WithinOneYear 2024-03-31 04206104 core:WithinOneYear 2023-01-31 04206104 core:RetainedEarningsAccumulatedLosses 2024-03-31 04206104 core:RetainedEarningsAccumulatedLosses 2023-01-31 04206104 bus:SmallEntities 2023-02-01 2024-03-31 04206104 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-03-31 04206104 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-03-31 04206104 bus:CompanyLimitedByGuarantee 2023-02-01 2024-03-31 04206104 bus:FullAccounts 2023-02-01 2024-03-31 04206104 core:ComputerEquipment 2023-02-01 2024-03-31 04206104 core:ComputerEquipment 2024-03-31 04206104 core:ComputerEquipment 2023-01-31
COMPANY REGISTRATION NUMBER: 04206104
PENISTONE LINE PARTNERSHIP
Company Limited by Guarantee
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
PENISTONE LINE PARTNERSHIP
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
31 March 2024
31 Mar 24
31 Jan 23
Note
£
£
£
£
FIXED ASSETS
Tangible assets
6
887
1,252
CURRENT ASSETS
Debtors
7
3,462
2,427
Cash at bank and in hand
44,333
72,391
---------
---------
47,795
74,818
CREDITORS: amounts falling due within one year
8
13,450
37,413
---------
---------
NET CURRENT ASSETS
34,345
37,405
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
35,232
38,657
PROVISIONS
Taxation including deferred tax
168
238
---------
---------
NET ASSETS
35,064
38,419
---------
---------
PENISTONE LINE PARTNERSHIP
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
31 Mar 24
31 Jan 23
Note
£
£
£
£
CAPITAL AND RESERVES
Profit and loss account
35,064
38,419
---------
---------
MEMBERS FUNDS
35,064
38,419
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 August 2024 , and are signed on behalf of the board by:
Mr N A Bentley
Director
Company registration number: 04206104
PENISTONE LINE PARTNERSHIP
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 1 FEBRUARY 2023 TO 31 MARCH 2024
1. GENERAL INFORMATION
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Unit 4, Rear 11 Church Street, Penistone, South Yorkshire, S36 6AR.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.
Current and deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment
-
25% reducing balance
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. COMPANY LIMITED BY GUARANTEE
The company is limited by guarantee. The liability of each member shall not exceed £1.
5. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 1 (2023: 1 ).
The directors are unpaid, the work they carry out is on a voluntary basis.
6. TANGIBLE ASSETS
Equipment
Total
£
£
Cost
At 1 February 2023 and 31 March 2024
2,225
2,225
-------
-------
Depreciation
At 1 February 2023
973
973
Charge for the period
365
365
-------
-------
At 31 March 2024
1,338
1,338
-------
-------
Carrying amount
At 31 March 2024
887
887
-------
-------
At 31 January 2023
1,252
1,252
-------
-------
7. DEBTORS
31 Mar 24
31 Jan 23
£
£
Other debtors
3,462
2,427
-------
-------
8. CREDITORS: amounts falling due within one year
31 Mar 24
31 Jan 23
£
£
Corporation tax
173
Pension Creditor
193
Grants received in advance
12,367
36,454
Other creditors
890
786
---------
---------
13,450
37,413
---------
---------
Grants carried forward
2024 2023
£ £
TPE CEP 1,719
Sheffield station 51
Penistone shelter improvement 9,760 10,000
Shepley Station improvements 837 898
Core funding 25,556
--------- ---------
12,367 36,454
--------- ---------