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Registered number: 08627782
Penvail Services Ltd
Financial Statements
For The Year Ended 31 July 2024
Shabbir & Co
Chartered Certified Accountants
248 Brockley Road
London
SE4 2SF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08627782
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 23,694 29,618
Investments 5 274,482 253,999
298,176 283,617
CURRENT ASSETS
Debtors 6 14,057 8,056
Cash at bank and in hand 21,467 24,238
35,524 32,294
Creditors: Amounts Falling Due Within One Year 7 (14,833 ) (9,657 )
NET CURRENT ASSETS (LIABILITIES) 20,691 22,637
TOTAL ASSETS LESS CURRENT LIABILITIES 318,867 306,254
NET ASSETS 318,867 306,254
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 318,767 306,154
SHAREHOLDERS' FUNDS 318,867 306,254
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Brendan Connolly
Director
29th October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Penvail Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08627782 . The registered office is 2 Ticehurst Road, Forest Hill, London, SE23 2TJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing Balance Method
Fixtures & Fittings 20% Reducing Balance Method
Computer Equipment 20% Reducing Balance Method
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.4. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 August 2023 39,164 14,740 53,904
As at 31 July 2024 39,164 14,740 53,904
Depreciation
As at 1 August 2023 14,596 9,690 24,286
Provided during the period 4,914 1,010 5,924
As at 31 July 2024 19,510 10,700 30,210
Net Book Value
As at 31 July 2024 19,654 4,040 23,694
As at 1 August 2023 24,568 5,050 29,618
5. Investments
Listed
£
Cost
As at 1 August 2023 253,999
Additions 186,072
Disposals (165,589 )
As at 31 July 2024 274,482
Provision
As at 1 August 2023 -
As at 31 July 2024 -
...CONTINUED
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Net Book Value
As at 31 July 2024 274,482
As at 1 August 2023 253,999
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 14,057 8,056
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,213 4,715
Corporation tax 9,695 -
Other taxes and social security 61 61
VAT 2,454 2,811
Accruals and deferred income 1,410 2,070
14,833 9,657
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5