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REGISTERED NUMBER: 08299027 (England and Wales)















PORT PENLEE WATERSIDE DEVELOPMENTS
LIMITED

Financial Statements for the Year Ended 31 December 2023






PORT PENLEE WATERSIDE DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 08299027)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PORT PENLEE WATERSIDE DEVELOPMENTS
LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R Iliffe
P J Kelly
Mrs S A O'Donnell
D N Kelly
Ms K G Roger
S P Welch





REGISTERED OFFICE: The Mill
One High Street
Henley-in-Arden
Warwickshire
B95 5AA





REGISTERED NUMBER: 08299027 (England and Wales)





ACCOUNTANTS: Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB

PORT PENLEE WATERSIDE DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 08299027)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
CURRENT ASSETS
Stocks 500,050 500,050
Debtors 4 6,884 1,910
Cash at bank 359 -
507,293 501,960
CREDITORS
Amounts falling due within one year 5 514,859 511,042
NET CURRENT LIABILITIES (7,566 ) (9,082 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(7,566

)

(9,082

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (7,666 ) (9,182 )
SHAREHOLDERS' FUNDS (7,566 ) (9,082 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2024 and were signed on its behalf by:





P J Kelly - Director


PORT PENLEE WATERSIDE DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 08299027)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Port Penlee Waterside Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

PORT PENLEE WATERSIDE DEVELOPMENTS
LIMITED (REGISTERED NUMBER: 08299027)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Going concern
The directors have considered the period ending 12 months after approving these financial statements. They are prepared to fully support the company financially, their loan account balances will not be withdrawn to the detriment of other creditor's. For this reason the directors continues to adopt the going concern basis of accounting in preparing these financial statements.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference shares or non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 5,000 -
Other debtors 1,884 1,910
6,884 1,910

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed to group undertakings 413,575 410,542
Taxation and social security 783 -
Other creditors 100,501 100,500
514,859 511,042

6. SECURED DEBTS

A legal mortgage over all of the property at and comprising Penlee Quarry, Newlyn, Cornwall is held by MDL Development Company Number 2 Limited, who hold 50% shares in the company.