PENWOOD SYSTEMS LTD

Company Registration Number:
03669010 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

PENWOOD SYSTEMS LTD

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

PENWOOD SYSTEMS LTD

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 103,139 124,714
Total fixed assets: 103,139 124,714
Current assets
Debtors: 4 1,406,143 603,072
Cash at bank and in hand: 79,996 738,765
Total current assets: 1,486,139 1,341,837
Creditors: amounts falling due within one year: 5 (113,037) (105,842)
Net current assets (liabilities): 1,373,102 1,235,995
Total assets less current liabilities: 1,476,241 1,360,709
Creditors: amounts falling due after more than one year: 6 (33,999) (51,693)
Total net assets (liabilities): 1,442,242 1,309,016
Capital and reserves
Called up share capital: 1 1
Other reserves: 1 1
Profit and loss account: 1,442,240 1,309,014
Shareholders funds: 1,442,242 1,309,016

The notes form part of these financial statements

PENWOOD SYSTEMS LTD

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 20 September 2024
and signed on behalf of the board by:

Name: Mr Matthew J. Campling
Status: Director

The notes form part of these financial statements

PENWOOD SYSTEMS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

PENWOOD SYSTEMS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 3 2

PENWOOD SYSTEMS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 276,099
Additions 37,300
Disposals (45,205)
At 31 December 2023 268,194
Depreciation
At 01 January 2023 151,385
Charge for year 58,874
On disposals (45,204)
At 31 December 2023 165,055
Net book value
At 31 December 2023 103,139
At 31 December 2022 124,714

PENWOOD SYSTEMS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Debtors

2023 2022
££
Debtors due after more than one year: 1,402,482 585,433

PENWOOD SYSTEMS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due within one year note

2023 £ Bank loans and overdrafts 10,667 Trade creditors 13,352 Corporation tax 65,036 Social security and other taxes 21,843 Other creditors 2,139 Total 113,037 2022 £ Bank loans and overdrafts 12,230 Trade creditors 9,746 Corporation tax 55,217 Social security and other taxes 26,679 Other creditors 1,970 Total 105,842

PENWOOD SYSTEMS LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Creditors: amounts falling due after more than one year note

2023 £ Bank loans and overdrafts 23,333 Other creditors 10,666 Total 33,999 2022 £ Bank loans and overdrafts 30,360 Other creditors 21,333 Total 51,693