IRIS Accounts Production v24.3.0.553 11329879 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh113298792023-04-30113298792024-04-30113298792023-05-012024-04-30113298792022-04-30113298792022-05-012023-04-30113298792023-04-3011329879ns15:EnglandWales2023-05-012024-04-3011329879ns14:PoundSterling2023-05-012024-04-3011329879ns10:Director12023-05-012024-04-3011329879ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3011329879ns10:SmallEntities2023-05-012024-04-3011329879ns10:AuditExemptWithAccountantsReport2023-05-012024-04-3011329879ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3011329879ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3011329879ns10:FullAccounts2023-05-012024-04-3011329879ns10:OrdinaryShareClass12023-05-012024-04-3011329879ns10:Director22023-05-012024-04-3011329879ns10:RegisteredOffice2023-05-012024-04-3011329879ns5:CurrentFinancialInstruments2024-04-3011329879ns5:CurrentFinancialInstruments2023-04-3011329879ns5:Non-currentFinancialInstruments2024-04-3011329879ns5:Non-currentFinancialInstruments2023-04-3011329879ns5:ShareCapital2024-04-3011329879ns5:ShareCapital2023-04-3011329879ns5:RevaluationReserve2024-04-3011329879ns5:RevaluationReserve2023-04-3011329879ns5:RetainedEarningsAccumulatedLosses2024-04-3011329879ns5:RetainedEarningsAccumulatedLosses2023-04-3011329879ns5:FurnitureFittings2023-05-012024-04-3011329879ns5:FurnitureFittings2024-04-3011329879ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-3011329879ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-3011329879ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-04-3011329879ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-04-3011329879ns10:OrdinaryShareClass12024-04-3011329879ns5:RevaluationReserve2023-04-30
REGISTERED NUMBER: 11329879 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Penrose Brown Limited

Penrose Brown Limited (Registered number: 11329879)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

Penrose Brown Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: J Etty
A M Etty





REGISTERED OFFICE: 2 Old Farm Close
Rothley
Leicestershire
LE7 7PQ





REGISTERED NUMBER: 11329879 (England and Wales)





ACCOUNTANTS: Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ

Penrose Brown Limited (Registered number: 11329879)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,841 -
Investment property 5 905,000 750,562
911,841 750,562

CURRENT ASSETS
Debtors 6 - 82,941
Cash at bank 9,167 7,179
9,167 90,120
CREDITORS
Amounts falling due within one year 7 85,765 201,335
NET CURRENT LIABILITIES (76,598 ) (111,215 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

835,243

639,347

CREDITORS
Amounts falling due after more than one
year

8

(678,179

)

(488,040

)

PROVISIONS FOR LIABILITIES (39,087 ) (20,655 )
NET ASSETS 117,977 130,652

CAPITAL AND RESERVES
Called up share capital 10 100 100
Non distributable reserve 11 117,262 88,056
Retained earnings 615 42,496
SHAREHOLDERS' FUNDS 117,977 130,652

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Penrose Brown Limited (Registered number: 11329879)

Balance Sheet - continued
30 April 2024


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 Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:





J Etty - Director


Penrose Brown Limited (Registered number: 11329879)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Penrose Brown 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Penrose Brown Limited (Registered number: 11329879)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
Additions 7,611
At 30 April 2024 7,611
DEPRECIATION
Charge for year 770
At 30 April 2024 770
NET BOOK VALUE
At 30 April 2024 6,841

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 750,562
Additions 106,800
Revaluations 47,638
At 30 April 2024 905,000
NET BOOK VALUE
At 30 April 2024 905,000
At 30 April 2023 750,562

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2021 78,711
Valuation in 2022 (20,000 )
Valuation in 2023 50,000
Valuation in 2024 47,638
Cost 748,651
905,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors - 82,941

Penrose Brown Limited (Registered number: 11329879)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Taxation and social security 2,194 11,186
Other creditors 83,571 190,149
85,765 201,335

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 678,179 488,040

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 678,179 488,040

9. SECURED DEBTS

The above bank loans are secured against the property held in the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary 1 100 100

11. RESERVES
Non
distributable
reserve
£   
At 1 May 2023 88,056
Non-distributable reserve trf 29,206

At 30 April 2024 117,262

12. CONTROLLING PARTY

The controlling party is J Etty and A M Etty.

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Penrose Brown Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Penrose Brown Limited for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Penrose Brown Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Penrose Brown Limited and state those matters that we have agreed to state to the Board of Directors of Penrose Brown Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Penrose Brown Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Penrose Brown Limited. You consider that Penrose Brown Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Penrose Brown Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ


Date: .............................................