1 March 2023 false No description of principal activity Taxfiler 2024.6 10495962business:PrivateLimitedCompanyLtd2023-03-012024-02-28 104959622023-02-28 104959622023-03-012024-02-28 10495962business:AuditExemptWithAccountantsReport2023-03-012024-02-28 10495962business:FilletedAccounts2023-03-012024-02-28 104959622024-02-28 10495962business:Director12023-03-012024-02-28 10495962business:Director22023-03-012024-02-28 10495962business:Director32023-03-012024-02-28 10495962business:Director42023-03-012024-02-28 10495962business:Director52023-03-012024-02-28 10495962business:Director62023-03-012024-02-28 10495962business:Director72023-03-012024-02-28 10495962business:RegisteredOffice2023-03-012024-02-28 104959622023-02-28 10495962core:WithinOneYear2024-02-28 10495962core:WithinOneYear2023-02-28 10495962core:ShareCapitalcore:PreviouslyStatedAmount2024-02-28 10495962core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 10495962core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-02-28 10495962core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 10495962core:PreviouslyStatedAmount2024-02-28 10495962core:PreviouslyStatedAmount2023-02-28 10495962business:SmallEntities2023-03-012024-02-28 10495962countries:EnglandWales2023-03-012024-02-28 10495962core:PlantMachinery2023-03-012024-02-28 10495962core:PlantMachinery2023-02-28 10495962core:PlantMachinery2024-02-28 10495962business:OrdinaryShareClass12023-03-012024-02-28 10495962business:OrdinaryShareClass12022-03-012023-02-28 104959622022-03-012023-02-28 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 10495962 (England and Wales)
The Penny Tap Ltd Unaudited accounts for the period from 1 March 2023 to 28 February 2024
The Penny Tap Ltd Unaudited accounts Contents
Page
- 2 -
The Penny Tap Ltd Company Information for the period from 1 March 2023 to 28 February 2024
Directors
Stuart Allen Richard Jesse Bill Meaden Simon Meaden Barry Mitchell Nigel Turton Simon Wallworth
Company Number
10495962 (England and Wales)
Registered Office
LOWER FARM MINCHINGTON BLANDFORD FORUM DORSET DT11 8DH UNITED KINGDOM
Accountants
Sarah Allen Sarah Allen Accountancy Waverley, Petworth Road Milford, Godalming Surrey GU8 5BY
- 3 -
The Penny Tap Ltd Statement of financial position as at 28 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,937 
581 
Current assets
Inventories
2,772 
2,454 
Cash at bank and in hand
4,802 
10,273 
7,574 
12,727 
Creditors: amounts falling due within one year
(4,480)
(5,991)
Net current assets
3,094 
6,736 
Net assets
6,031 
7,317 
Capital and reserves
Called up share capital
7 
7 
Profit and loss account
6,024 
7,310 
Shareholders' funds
6,031 
7,317 
For the period ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 November 2024 and were signed on its behalf by
Stuart Allen Director Company Registration No. 10495962
- 4 -
The Penny Tap Ltd Notes to the Accounts for the period from 1 March 2023 to 28 February 2024
1
Statutory information
The Penny Tap Ltd is a private company, limited by shares, registered in England and Wales, registration number 10495962. The registered office is LOWER FARM, MINCHINGTON, BLANDFORD FORUM, DORSET, DT11 8DH, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on Reducing Balance
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss. The accounting policy adopted for grants is accrual model. Grants received as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, are recognised in income in the period in which it becomes receivable.
- 5 -
The Penny Tap Ltd Notes to the Accounts for the period from 1 March 2023 to 28 February 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 March 2023
2,222 
Additions
3,090 
At 28 February 2024
5,312 
Depreciation
At 1 March 2023
1,641 
Charge for the period
734 
At 28 February 2024
2,375 
Net book value
At 28 February 2024
2,937 
At 28 February 2023
581 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
1,500 
2,000 
Taxes and social security
2,430 
2,499 
Accruals
550 
1,492 
4,480 
5,991 
6
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
7 Ordinary shares of £1 each
7 
7 
7
Average number of employees
During the period the average number of employees was 0 (2023: 0).
- 6 -