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REGISTERED NUMBER: 04151961 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PENTEL LIMITED

PENTEL LIMITED (REGISTERED NUMBER: 04151961)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PENTEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Ms E C Turner
Miss L C Turner
E M Turner





REGISTERED OFFICE: 61 Station Road
Sudbury
Suffolk
CO10 2SP





REGISTERED NUMBER: 04151961 (England and Wales)





ACCOUNTANTS: Seago and Stopps
Chartered Certified Accountants
61 Station Road
Sudbury
Suffolk
CO10 2SP

PENTEL LIMITED (REGISTERED NUMBER: 04151961)

BALANCE SHEET
31 DECEMBER 2023

31.12.22 31.12.23
£    £    Notes £    £   
FIXED ASSETS
5,052,078 Tangible assets 4 -
523,090 Investments 5 611,644
- Investment property 6 5,050,000
5,575,168 5,661,644

CURRENT ASSETS
4,447 Debtors 7 2,985
16,729 Cash at bank 4,014
21,176 6,999
CREDITORS
1,448,591 Amounts falling due within one year 8 1,189,080
(1,427,415 ) NET CURRENT LIABILITIES (1,182,081 )
4,147,753 TOTAL ASSETS LESS CURRENT
LIABILITIES

4,479,563

CREDITORS
(1,388,124 ) Amounts falling due after more than one
year

9

(1,362,538

)

(484,686 ) PROVISIONS FOR LIABILITIES (596,443 )
2,274,943 NET ASSETS 2,520,582

PENTEL LIMITED (REGISTERED NUMBER: 04151961)

BALANCE SHEET - continued
31 DECEMBER 2023

31.12.22 31.12.23
£    £    Notes £    £   
CAPITAL AND RESERVES
120 Called up share capital 171
517,930 Share premium 602,029
1,436,880 Property revaluation 11 -
- Fair value reserve 11 1,436,880
320,013 Retained earnings 481,502
2,274,943 SHAREHOLDERS' FUNDS 2,520,582

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 24 September 2024 and were signed on its behalf by:





Ms E C Turner - Director


PENTEL LIMITED (REGISTERED NUMBER: 04151961)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Pentel 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 as modified by the revaluation of certain assets.

Turnover
The company derives its income from rents receivable, which are accounted for under the accruals basis.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at its most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised within the profit and loss account.

Financial instruments
The company enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statemernts such as trade and other accounts receivable and payable, bank loans and hire purchase and lease contracts.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 1 ) .

PENTEL LIMITED (REGISTERED NUMBER: 04151961)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
Totals property fittings
£    £    £   
COST OR VALUATION
At 1 January 2023 5,109,776 5,050,000 59,776
Disposals (59,776 ) - (59,776 )
Reclassification/transfer (5,050,000 ) (5,050,000 ) -
At 31 December 2023 - - -
DEPRECIATION
At 1 January 2023 57,698 - 57,698
Eliminated on disposal (57,698 ) - (57,698 )
At 31 December 2023 - - -
NET BOOK VALUE
At 31 December 2023 - - -
At 31 December 2022 5,052,078 5,050,000 2,078

Cost or valuation at 31 December 2023 is represented by:

Freehold
property
£   
Valuation in 2009 488,615
Valuation in 2010 160,000
Valuation in 2011 85,000
Valuation in 2012 500,000
Valuation in 2013 290,000
Valuation in 2015 385,000
Valuation in 2016 166,500
Valuation in 2019 473,785
Valuation in 2023 (5,050,000 )
Cost 2,501,100

PENTEL LIMITED (REGISTERED NUMBER: 04151961)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 523,090
Additions 88,554
At 31 December 2023 611,644
NET BOOK VALUE
At 31 December 2023 611,644
At 31 December 2022 523,090

During the year the company acquired 51 Ordinary £1 shares previously held by the director in another trading company in a share for share exchange.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Reclassification/transfer 5,050,000
At 31 December 2023 5,050,000
NET BOOK VALUE
At 31 December 2023 5,050,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 2,548,900
Cost 2,501,100
5,050,000

Investment property was valued on an open market basis on 31 December 2023 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 2,985 4,447

PENTEL LIMITED (REGISTERED NUMBER: 04151961)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 30,908 35,126
Taxation and social security 17,622 17,220
Other creditors 1,140,550 1,396,245
1,189,080 1,448,591

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 1,362,538 1,388,124

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,238,906 1,247,620

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 1,393,446 1,423,250

Lloyds Bank and Paratus Amc Limited hold fixed and floating charges over the company's assets.

11. RESERVES

Included within reserves is a fair value reserve, which has been created through the process of revaluing the investment property held to its open market value each year. The reserve is also adjusted annually for any movements in deferred tax.

In accordance with FRS 102, the fair value reserve is a 'non-distributable' reserve and is separately disclosed in the balance sheet.