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REGISTERED NUMBER: 05000454 (England and Wales)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

PENTAGON PAINT & BODY LIMITED

PENTAGON PAINT & BODY LIMITED (REGISTERED NUMBER: 05000454)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PENTAGON PAINT & BODY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Mr P Smith
Mr D J Rollo





REGISTERED OFFICE: 495 Green Lanes
London
N13 4BS





REGISTERED NUMBER: 05000454 (England and Wales)





ACCOUNTANTS: Avraam Associates Limited
Chartered Accountants
495 Green Lanes
London
N13 4BS

PENTAGON PAINT & BODY LIMITED (REGISTERED NUMBER: 05000454)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 421,519 443,965
421,520 443,966

CURRENT ASSETS
Debtors 6 806,079 913,032
Cash at bank and in hand 238,906 418,627
1,044,985 1,331,659
CREDITORS
Amounts falling due within one year 7 1,114,330 1,015,850
NET CURRENT (LIABILITIES)/ASSETS (69,345 ) 315,809
TOTAL ASSETS LESS CURRENT LIABILITIES 352,175 759,775

CREDITORS
Amounts falling due after more than one
year

8

(224,397

)

(269,787

)

PROVISIONS FOR LIABILITIES 11 - (936 )
NET ASSETS 127,778 489,052

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 127,678 488,952
SHAREHOLDERS' FUNDS 127,778 489,052

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

PENTAGON PAINT & BODY LIMITED (REGISTERED NUMBER: 05000454)

BALANCE SHEET - continued
31ST MARCH 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 20th November 2024 and were signed on its behalf by:




Mr D J Rollo - Director



Mr P Smith - Director


PENTAGON PAINT & BODY LIMITED (REGISTERED NUMBER: 05000454)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Pentagon Paint & Body 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents net invoiced provision of services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of fifteen years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 25% on reducing balance and over period of lease

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 32 ) .

PENTAGON PAINT & BODY LIMITED (REGISTERED NUMBER: 05000454)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 527,700
AMORTISATION
At 1st April 2023
and 31st March 2024 527,699
NET BOOK VALUE
At 31st March 2024 1
At 31st March 2023 1

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023 1,293,922
Additions 145,789
Disposals (103,918 )
At 31st March 2024 1,335,793
DEPRECIATION
At 1st April 2023 849,957
Charge for year 110,311
Eliminated on disposal (45,994 )
At 31st March 2024 914,274
NET BOOK VALUE
At 31st March 2024 421,519
At 31st March 2023 443,965

PENTAGON PAINT & BODY LIMITED (REGISTERED NUMBER: 05000454)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st April 2023 468,393
Additions 109,767
Disposals (75,252 )
At 31st March 2024 502,908
DEPRECIATION
At 1st April 2023 139,168
Charge for year 76,045
Eliminated on disposal (19,989 )
At 31st March 2024 195,224
NET BOOK VALUE
At 31st March 2024 307,684
At 31st March 2023 329,225

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 712,509 863,913
Other debtors 93,570 49,119
806,079 913,032

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 105,787 76,152
Trade creditors 385,209 399,919
Taxation and social security 499,556 454,179
Other creditors 123,778 85,600
1,114,330 1,015,850

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 224,397 269,787

PENTAGON PAINT & BODY LIMITED (REGISTERED NUMBER: 05000454)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 128,618 95,606
Between one and five years 247,670 298,616
376,288 394,222

Finance charges repayable:
Within one year 22,831 19,454
Between one and five years 23,273 28,829
46,104 48,283

Net obligations repayable:
Within one year 105,787 76,152
Between one and five years 224,397 269,787
330,184 345,939

Non-cancellable operating leases
2024 2023
£    £   
Within one year 65,090 78,776
Between one and five years 13,847 47,546
78,937 126,322

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 330,184 345,939

The bank has a mortgage debenture incorporating a fixed and floating charge over all the property and undertakings of the company.

11. PROVISIONS FOR LIABILITIES
2023
£   
Deferred tax 936

PENTAGON PAINT & BODY LIMITED (REGISTERED NUMBER: 05000454)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st April 2023 936
Credit to Income Statement during year (10,935 )
Balance at 31st March 2024 (9,999 )

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

The Ordinary shares are non redeemable voting shares. They are entitled to receive such dividends as are declared and participate in a distribution of capital on liquidation or otherwise.

13. RELATED PARTY DISCLOSURES

Included in debtors is an amount of £1,338 (2023 - £1,338) due from Jetof Limited, the ultimate parent company.

During the year £300,000 (2023 - £240,000) was paid to Gullwing Securities Limited in rent.

During the year £1,329,467 (2023 - £1,096,995) was paid to Jetof Limited in dividends.

14. ULTIMATE CONTROLLING PARTY

The directors are the ultimate controlling party by virtue of their shareholding in Jetof Limited, the ultimate parent company.