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REGISTERED NUMBER: 07893348 (England and Wales)















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 4 131,018 130,888
Investment property 5 - 140,648
131,018 271,536

CURRENT ASSETS
Debtors 6 867,756 978,320
Cash at bank 264,615 38,137
1,132,371 1,016,457
CREDITORS
Amounts falling due within one year 7 610,065 608,719
NET CURRENT ASSETS 522,306 407,738
TOTAL ASSETS LESS CURRENT
LIABILITIES

653,324

679,274

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 653,323 679,273
SHAREHOLDERS' FUNDS 653,324 679,274

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 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 September 2024 and were signed by:



R W H Taylor - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07893348

Registered office: 3rd Floor
3-5 Rathbone Place
London
W1T 1HJ

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.

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 480,757 181 480,938
Additions 100 30 130
At 31 December 2023 480,857 211 481,068
PROVISIONS
At 1 January 2023
and 31 December 2023 350,050 - 350,050
NET BOOK VALUE
At 31 December 2023 130,807 211 131,018
At 31 December 2022 130,707 181 130,888

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:

Vengrove Group Limited
Registered office: 3rd Floor, 3-5 Rathbone Place, London, United Kingdom, W1T 1HJ
Nature of business: Holding company
%
Class of shares: holding
Ordinary 100.00

The company also has an indirect interest in the following companies.

Vengrove Real Estate Management Limited
Registered office: 3rd Floor, 3-5 Rathbone Place, London, United Kingdom, W1T 1HJ
Nature of business: Property management
%
Class of shares: holding
Ordinary 100.00

Vengrove Real Estate Investment Limited
Registered office: 3rd Floor, 3-5 Rathbone Place, London, United Kingdom, W1T 1HJ
Nature of business: Holding company
%
Class of shares: holding
Ordinary 100.00

Vengrove Real Estate Developers Limited
Registered office: 3rd Floor, 3-5 Rathbone Place, London, United Kingdom, W1T 1HJ
Nature of business: Property management
%
Class of shares: holding
Ordinary 100.00

Vengrove Si-Reit Advisors Limited
Registered office: 3rd Floor, 3-5 Rathbone Place, London, United Kingdom, W1T 1HJ
Nature of business: Consultancy
%
Class of shares: holding
Ordinary 100.00

Hyperion Housing Limited
Registered office: 3rd Floor, 3-5 Rathbone Place, London, United Kingdom, W1T 1HJ
Nature of business: Real estate rental
%
Class of shares: holding
Ordinary 100.00

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 140,648
Disposals (140,648 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 140,648

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 615,223 668,899
Other debtors 2,000 -
Amounts owed by associated
companies 250,000 250,000
VAT - 59,219
Prepayments 533 202
867,756 978,320

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 240 -
Amounts owed to group undertakings 7,441 7,341
Tax 32,313 -
VAT 7,080 -
Other creditors 211 181
Directors' current accounts 562,714 601,043
Accruals and deferred income 66 154
610,065 608,719

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
99 A Ordinary 0.01 1 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 R W H Taylor.