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REGISTERED NUMBER: 04893056 (England and Wales)















Unaudited Financial Statements for the Year Ended 5 April 2024

for

Pensarn Properties Limited

Pensarn Properties Limited (Registered number: 04893056)






Contents of the Financial Statements
for the Year Ended 5 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Pensarn Properties Limited

Company Information
for the Year Ended 5 April 2024







DIRECTOR: Mr W M Hammond





REGISTERED OFFICE: Unit 4
Bydwynn
Llanbedr
Gwynedd
LL45 2LP





REGISTERED NUMBER: 04893056 (England and Wales)





ACCOUNTANTS: Dunn & Ellis Cyf
Chartered Accountants
Adeilad St David's Building
Stryd Lombard Street
Porthmadog
Gwynedd
LL49 9AP

Pensarn Properties Limited (Registered number: 04893056)

Balance Sheet
5 April 2024

5.4.24 5.4.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 300,000 350,000

CURRENT ASSETS
Cash at bank 802 3,273

CREDITORS
Amounts falling due within one year 5 64,048 65,565
NET CURRENT LIABILITIES (63,246 ) (62,292 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

236,754

287,708

PROVISIONS FOR LIABILITIES 19,000 28,500
NET ASSETS 217,754 259,208

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 6 81,000 121,500
Retained earnings 136,752 137,706
SHAREHOLDERS' FUNDS 217,754 259,208

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2024 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 October 2024 and were signed by:




Mr W M Hammond - Director


Pensarn Properties Limited (Registered number: 04893056)

Notes to the Financial Statements
for the Year Ended 5 April 2024

1. STATUTORY INFORMATION

Pensarn Properties 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.

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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

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.

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
The accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company for at least 12 months from the date of signature.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Pensarn Properties Limited (Registered number: 04893056)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 6 April 2023 350,000
Revaluations (50,000 )
At 5 April 2024 300,000
NET BOOK VALUE
At 5 April 2024 300,000
At 5 April 2023 350,000

The Property was measured using the fair value basis on 5th April by the Director and is valued at £300,000.

Fair value at 5 April 2024 is represented by:
£   
Valuation in 2018 140,000
Valuation in 2023 150,000
Valuation in 2024 (50,000 )
Cost 60,000
300,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.24 5.4.23
£    £   
Trade creditors 8 8
Amounts owed to associates 63,380 64,952
Taxation and social security 158 158
Other creditors 502 447
64,048 65,565

6. RESERVES
Revaluation
reserve
£   
At 6 April 2023 121,500
Revaluation (40,500 )

At 5 April 2024 81,000

7. RELATED PARTY DISCLOSURES

The Directors current account was in credit throughout the year.

Mr W Hammond owns 100% of the shares of Pensarn Properties Limited and Knightmovers Removal & Storage Limited.

The balance of the loan from Knightmovers Limited was £63,380 at the balance sheet date (2023: £64,952). Interest was charged on this loan at a rate of 2.25% on the average balance during the year.