REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
PENSWICK INVESTMENTS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
PENSWICK INVESTMENTS LIMITED |
PENSWICK INVESTMENTS LIMITED (REGISTERED NUMBER: 07893348) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
PENSWICK INVESTMENTS LIMITED (REGISTERED NUMBER: 07893348) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
PENSWICK INVESTMENTS LIMITED (REGISTERED NUMBER: 07893348) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Penswick Investments Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The results are presented for the company as a single entity only. |
Preparation of consolidated financial statements |
The financial statements contain information about Penswick Investments Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost less any provision for impairment. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
PENSWICK INVESTMENTS LIMITED (REGISTERED NUMBER: 07893348) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 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. |
Going concern |
Based on current trading and future expectations, the director is confident the company will continue to trade profitably in future periods and will generate sufficient cash flows to meet its obligations as they fall due for payment. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Interest |
Shares in | in other |
group | participating |
undertakings | interests | Totals |
£ | £ | £ |
COST |
At 1 January 2023 | 181 | 480,938 |
Additions | 30 | 130 |
At 31 December 2023 | 211 | 481,068 |
PROVISIONS |
At 1 January 2023 |
and 31 December 2023 | 350,050 | - | 350,050 |
NET BOOK VALUE |
At 31 December 2023 | 211 | 131,018 |
At 31 December 2022 | 181 | 130,888 |
PENSWICK INVESTMENTS LIMITED (REGISTERED NUMBER: 07893348) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
4. | FIXED ASSET INVESTMENTS - continued |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: 3rd Floor, 3-5 Rathbone Place, London, United Kingdom, W1T 1HJ |
Nature of business: |
% |
Class of shares: | holding |
The company also has an indirect interest in the following companies. |
Registered office: 3rd Floor, 3-5 Rathbone Place, London, United Kingdom, W1T 1HJ |
Nature of business: |
% |
Class of shares: | holding |
Registered office: 3rd Floor, 3-5 Rathbone Place, London, United Kingdom, W1T 1HJ |
Nature of business: |
% |
Class of shares: | holding |
Registered office: 3rd Floor, 3-5 Rathbone Place, London, United Kingdom, W1T 1HJ |
Nature of business: |
% |
Class of shares: | holding |
Registered office: 3rd Floor, 3-5 Rathbone Place, London, United Kingdom, W1T 1HJ |
Nature of business: |
% |
Class of shares: | holding |
Registered office: 3rd Floor, 3-5 Rathbone Place, London, United Kingdom, W1T 1HJ |
Nature of business: |
% |
Class of shares: | holding |
PENSWICK INVESTMENTS LIMITED (REGISTERED NUMBER: 07893348) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2023 |
Disposals | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
Amounts owed by associated |
companies |
VAT |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax |
VAT |
Other creditors |
Directors' current accounts |
Accruals and deferred income |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
A Ordinary | 0.01 | 1 | 1 |
B Ordinary | 0.01 | - | - |
1 | 1 |
PENSWICK INVESTMENTS LIMITED (REGISTERED NUMBER: 07893348) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
9. | RELATED PARTY DISCLOSURES |
At the year end, within creditors, is a balance of £552,821 (2022: £601,043) due to the director, Mr R Taylor. |
At the year end, the company owed £7,186 to (2022: £7,186) from Vengrove Real Estate Management Limited, a company of which Mr R Taylor is a director. |
At the year end, the company owed Vengrove Real Estate Investment Limited £155 (2022: £155), a company of which Mr R Taylor is a director. |
At the year end, the company was owed £626,139 (2022: £668,899) from Vengrove Group Limited, a subsidiary company of which Mr R Taylor is also a director. |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |