Silverfin false false 29/02/2024 01/03/2023 29/02/2024 J Caunter 20 November 2024 The principal activity of the Company during the financial year was development of building projects 08814642 2024-02-29 08814642 2023-02-28 08814642 core:CurrentFinancialInstruments 2024-02-29 08814642 core:CurrentFinancialInstruments 2023-02-28 08814642 core:Non-currentFinancialInstruments 2024-02-29 08814642 core:Non-currentFinancialInstruments 2023-02-28 08814642 core:ShareCapital 2024-02-29 08814642 core:ShareCapital 2023-02-28 08814642 core:OtherCapitalReserve 2024-02-29 08814642 core:OtherCapitalReserve 2023-02-28 08814642 core:RetainedEarningsAccumulatedLosses 2024-02-29 08814642 core:RetainedEarningsAccumulatedLosses 2023-02-28 08814642 core:Vehicles 2023-02-28 08814642 core:Vehicles 2024-02-29 08814642 2023-03-01 2024-02-29 08814642 bus:FilletedAccounts 2023-03-01 2024-02-29 08814642 bus:SmallEntities 2023-03-01 2024-02-29 08814642 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 08814642 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08814642 bus:Director1 2023-03-01 2024-02-29 08814642 core:Vehicles 2023-03-01 2024-02-29 08814642 2022-03-01 2023-02-28 08814642 core:Non-currentFinancialInstruments 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Company No: 08814642 (England and Wales)

PENN DEVELOPMENTS (UK) LIMITED

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

PENN DEVELOPMENTS (UK) LIMITED

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

PENN DEVELOPMENTS (UK) LIMITED

BALANCE SHEET

As at 29 February 2024
PENN DEVELOPMENTS (UK) LIMITED

BALANCE SHEET (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 3,624 4,832
3,624 4,832
Current assets
Debtors 4 3,585 3,585
Cash at bank and in hand 0 86
3,585 3,671
Creditors: amounts falling due within one year 5 ( 23,002) ( 22,068)
Net current liabilities (19,417) (18,397)
Total assets less current liabilities (15,793) (13,565)
Creditors: amounts falling due after more than one year 6 ( 19,085) ( 19,085)
Net liabilities ( 34,878) ( 32,650)
Capital and reserves
Called-up share capital 100 100
Other reserves ( 385 ) ( 385 )
Profit and loss account ( 34,593 ) ( 32,365 )
Total shareholder's deficit ( 34,878) ( 32,650)

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Penn Developments (UK) Limited (registered number: 08814642) were approved and authorised for issue by the Director on 20 November 2024. They were signed on its behalf by:

J Caunter
Director
PENN DEVELOPMENTS (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
PENN DEVELOPMENTS (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Penn Developments (UK) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Flat 11 Heathside Court, 28 Avalon , Poole, BH14 8HT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Vehicles Total
£ £
Cost
At 01 March 2023 25,492 25,492
At 29 February 2024 25,492 25,492
Accumulated depreciation
At 01 March 2023 20,660 20,660
Charge for the financial year 1,208 1,208
At 29 February 2024 21,868 21,868
Net book value
At 29 February 2024 3,624 3,624
At 28 February 2023 4,832 4,832

4. Debtors

2024 2023
£ £
Other debtors 3,585 3,585

5. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 23,002 22,068

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 19,085 19,085

There are no amounts included above in respect of which any security has been given by the small entity.