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Registration number: 13925056

Penrose 273 Limited

Unaudited Filleted Financial Statements

for the Period from 29 February 2024 to 31 August 2024

 

Penrose 273 Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Penrose 273 Limited

Company Information

Directors

Mr Darryl James Penrose

Layne Dudley Penrose

Registered office

Unit 7 Ashford Business Centre
166 Feltham Road
Ashford
Middlesex
TW15 1YQ

Accountants

Blackman Terry Accountants Ltd
Chartered Certified Accountants
Bolney Place
Cowfold Road
Bolney
Haywards Heath
West Sussex
RH17 5QT

 

Penrose 273 Limited

(Registration number: 13925056)
Balance Sheet as at 31 August 2024

Note

2024
£

2024
£

Fixed assets

 

Investments

4

49,233

1,701,019

Current assets

 

Debtors

5

1

1

Cash at bank and in hand

 

1,184,154

-

 

1,184,155

1

Creditors: Amounts falling due within one year

6

(297,389)

-

Net current assets

 

886,766

1

Net assets

 

935,999

1,701,020

Capital and reserves

 

Called up share capital

7

1,701,020

1,701,020

Retained earnings

(765,021)

-

Shareholders' funds

 

935,999

1,701,020

For the financial period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 September 2024 and signed on its behalf by:
 

.........................................
Mr Darryl James Penrose
Director

 

Penrose 273 Limited

Notes to the Unaudited Financial Statements for the Period from 29 February 2024 to 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 7 Ashford Business Centre
166 Feltham Road
Ashford
Middlesex
TW15 1YQ

These financial statements were authorised for issue by the Board on 25 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Penrose 273 Limited

Notes to the Unaudited Financial Statements for the Period from 29 February 2024 to 31 August 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0 (2024 - 0).

4

Investments

2024
£

2024
£

Investments in subsidiaries

49,233

1,701,019

 

Penrose 273 Limited

Notes to the Unaudited Financial Statements for the Period from 29 February 2024 to 31 August 2024

Subsidiaries

£

Cost or valuation

At 29 February 2024

1,701,019

Revaluation

(1,651,786)

At 31 August 2024

49,233

Provision

Carrying amount

At 31 August 2024

49,233

At 28 February 2024

1,701,019

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2024

Subsidiary undertakings

D.C.W. PENROSE & COMPANY LIMITED

Office 3,
Romney Marsh Business Hub,
Mountfield Road,
New Romney,
Kent,
TN28 8LH

England and Wales

Ordinary

100%

100%

5

Debtors

Current

2024
£

2024
£

Other debtors

1

1

 

1

1

 

Penrose 273 Limited

Notes to the Unaudited Financial Statements for the Period from 29 February 2024 to 31 August 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2024
£

Due within one year

Taxation and social security

295,589

-

Accruals and deferred income

1,800

-

297,389

-

7

Share capital

Allotted, called up and fully paid shares

2024

2024

No.

£

No.

£

A Ordinary of £1 each

1,000,000

1,000,000

1,000,000

1,000,000

B Ordinary of £1 each

701,020

701,020

701,020

701,020

1,701,020

1,701,020

1,701,020

1,701,020