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REGISTERED NUMBER: 03112270 (England and Wales)










The Penpot Quill and Red Ship Trading
Company Limited

Unaudited Financial Statements

for the Year Ended 31 January 2024






The Penpot Quill and Red Ship Trading
Company Limited (Registered number: 03112270)






Contents of the Financial Statements
for the year ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Penpot Quill and Red Ship Trading
Company Limited

Company Information
for the year ended 31 January 2024







DIRECTOR: Mr P H Fowler





SECRETARY: D Crewsdon





REGISTERED OFFICE: Pennant House
Field Street
Llangefni
Gwynedd
LL77 7EH





REGISTERED NUMBER: 03112270 (England and Wales)

The Penpot Quill and Red Ship Trading
Company Limited (Registered number: 03112270)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 50 51
Investments 5 35,180 38,676
35,230 38,727

CURRENT ASSETS
Debtors 6 2,271 485
Cash at bank 114 66
2,385 551
CREDITORS
Amounts falling due within one year 7 2,493 1,370
NET CURRENT LIABILITIES (108 ) (819 )
TOTAL ASSETS LESS CURRENT LIABILITIES 35,122 37,908

CREDITORS
Amounts falling due after more than one year 8 (1,713 ) (3,400 )

PROVISIONS FOR LIABILITIES (1,179 ) (1,047 )
NET ASSETS 32,230 33,461

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Other reserves 9 4,502 4,502
Retained earnings 9 17,728 18,959
32,230 33,461

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 31 October 2024 and were signed by:





Mr P H Fowler - Director


The Penpot Quill and Red Ship Trading
Company Limited (Registered number: 03112270)

Notes to the Financial Statements
for the year ended 31 January 2024

1. STATUTORY INFORMATION

The Penpot Quill and Red Ship Trading Company 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.

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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Formation expenses are being amortised evenly over their estimated useful life of nil years.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

The Penpot Quill and Red Ship Trading
Company Limited (Registered number: 03112270)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2023
and 31 January 2024 78
AMORTISATION
At 1 February 2023 27
Charge for year 1
At 31 January 2024 28
NET BOOK VALUE
At 31 January 2024 50
At 31 January 2023 51

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 February 2023 38,676
Additions 2,802
Disposals (4,277 )
Impairments (2,021 )
At 31 January 2024 35,180
NET BOOK VALUE
At 31 January 2024 35,180
At 31 January 2023 38,676

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,271 485

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,735 -
Other creditors (242 ) 1,370
2,493 1,370

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 201 3,400
Director's loan 1,512 -
1,713 3,400

The Penpot Quill and Red Ship Trading
Company Limited (Registered number: 03112270)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

9. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 February 2023 18,959 4,502 23,461
Deficit for the year (411 ) (411 )
Dividends (820 ) (820 )
At 31 January 2024 17,728 4,502 22,230

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr P H Fowler.