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Registered Number: 04640074
England and Wales

 

 

 

PENWAY DEVELOPMENTS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 31 December 2022

End date: 30 December 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 2    2 
2    2 
Current assets      
Debtors 4 40,796    40,383 
Cash at bank and in hand 20,699    60,421 
61,495    100,804 
Creditors: amount falling due within one year 5 (49,006)   (65,968)
Net current assets 12,489    34,836 
 
Total assets less current liabilities 12,491    34,838 
Net assets 12,491    34,838 
 

Capital and reserves
     
Called up share capital 6 1,000    1,000 
Profit and loss account 11,491    33,838 
Shareholders' funds 12,491    34,838 
 


For the year ended 30 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 26 September 2024 and were signed by:


-------------------------------
P K Betts
Director
1
General Information
Penway Developments Ltd is a private company, limited by shares, registered in England and Wales, registration number 04640074, registration address 2nd Floor, 56 Hamilton Square, Birkenhead, Wirral, CH41 5AS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation for the year comprises current tax and 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 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.

Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Straight Line
Fixtures and Fittings 25% Straight Line
2.

Average number of employees


Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 31 December 2022 8,461    683    9,144 
Additions    
Disposals    
At 30 December 2023 8,461    683    9,144 
Depreciation
At 31 December 2022 8,460    682    9,142 
Charge for year    
On disposals    
At 30 December 2023 8,460    682    9,142 
Net book values
Closing balance as at 30 December 2023 1    1    2 
Opening balance as at 31 December 2022 1    1    2 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Prepayments & Accrued Income 40,000    40,000 
VAT 796    383 
40,796    40,383 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 2,900   
Accrued Expenses 1,553    2,381 
Other Creditors 28,961    35,688 
Director: P K Betts 15,592    27,899 
49,006    65,968 

6.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
500 Ordinary A shares of £1.00 each 500    500 
500 Ordinary B shares of £1.00 each 500    500 
1,000    1,000 

2