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REGISTERED NUMBER: 06193698 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Pennine Cruisers Limited

Pennine Cruisers Limited (Registered number: 06193698)






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


Pennine Cruisers Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mrs P A Clarke
I Clarke
Mrs Z L Venn





REGISTERED OFFICE: 19 Coach Street
Skipton
North Yorkshire
BD23 1LH





REGISTERED NUMBER: 06193698 (England and Wales)





ACCOUNTANTS: DWilkinson&Company
Bank House
27 King Street
Leeds
West Yorkshire
LS1 2HL

Pennine Cruisers Limited (Registered number: 06193698)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 85,428 71,972
85,429 71,973

CURRENT ASSETS
Stocks 36,866 35,792
Debtors 6 215,112 125,117
Cash at bank and in hand 19,198 117,908
271,176 278,817
CREDITORS
Amounts falling due within one year 7 244,516 248,012
NET CURRENT ASSETS 26,660 30,805
TOTAL ASSETS LESS CURRENT
LIABILITIES

112,089

102,778

PROVISIONS FOR LIABILITIES 9 16,231 13,675
NET ASSETS 95,858 89,103

Pennine Cruisers Limited (Registered number: 06193698)

Balance Sheet - continued
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 20,000 20,000
Retained earnings 75,858 69,103
SHAREHOLDERS' FUNDS 95,858 89,103

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.

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 23 August 2024 and were signed on its behalf by:





Mrs Z L Venn - Director


Pennine Cruisers Limited (Registered number: 06193698)

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

1. STATUTORY INFORMATION

Pennine Cruisers 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 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 5% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.


Pennine Cruisers Limited (Registered number: 06193698)

Notes to the Financial Statements - continued
for the Year Ended 31 January 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 80,000
AMORTISATION
At 1 February 2023
and 31 January 2024 79,999
NET BOOK VALUE
At 31 January 2024 1
At 31 January 2023 1

Pennine Cruisers Limited (Registered number: 06193698)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2023 118,182 18,250 30,867 167,299
Additions 19,247 - - 19,247
At 31 January 2024 137,429 18,250 30,867 186,546
DEPRECIATION
At 1 February 2023 53,269 16,428 25,630 95,327
Charge for year 4,208 273 1,310 5,791
At 31 January 2024 57,477 16,701 26,940 101,118
NET BOOK VALUE
At 31 January 2024 79,952 1,549 3,927 85,428
At 31 January 2023 64,913 1,822 5,237 71,972

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 68,202 46,811
Other debtors 145,000 76,248
Prepayments 1,910 2,058
215,112 125,117

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 43,320 54,204
Trade creditors 35,526 31,158
Tax - 5,798
Social security and other taxes 4,568 2,724
VAT 23,995 12,239
Other creditors 134,215 139,029
Accrued expenses 2,892 2,860
244,516 248,012

Loans from directors are provided interest free and are repayable on demand.

Pennine Cruisers Limited (Registered number: 06193698)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank overdrafts 21,271 871
Bank loans 22,049 53,333
43,320 54,204

The bank loan and overdraft are secured by a fixed and floating charge over the company's assets

9. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax 16,231 13,675

Deferred
tax
£   
Balance at 1 February 2023 13,675
Accelerated capital allowances 2,556
Balance at 31 January 2024 16,231

The entire provision of deferred tax is relating to accelerated capital allowances.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
20,000 Ordinary 1 20,000 20,000

11. ULTIMATE CONTROLLING PARTY

The directors control the company due to holding 100% of the company's issued share capital.