2023-03-012024-02-282024-02-28false11183070Pen Mill Storage 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Pen Mill Storage Limited

Registered Number
11183070
(England and Wales)

Unaudited Financial Statements for the Period ended
28 February 2024

Pen Mill Storage Limited
Company Information
for the period from 1 March 2023 to 28 February 2024

Directors

Conlin, Ian
Frost, Colin Brice

Registered Address

9c Oxford Road Oxford Road
Pen Mill Trading Estate
Yeovil
BA21 5HR

Registered Number

11183070 (England and Wales)
Pen Mill Storage Limited
Balance Sheet as at
28 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets320,53223,284
20,53223,284
Current assets
Debtors82246
Cash at bank and on hand11,6034,702
11,6854,948
Creditors amounts falling due within one year4(7,043)(6,308)
Net current assets (liabilities)4,642(1,360)
Total assets less current liabilities25,17421,924
Provisions for liabilities(3,901)(5,687)
Net assets21,27316,237
Capital and reserves
Called up share capital100100
Profit and loss account21,17316,137
Shareholders' funds21,27316,237
The financial statements were approved and authorised for issue by the Board of Directors on 25 November 2024, and are signed on its behalf by:
Conlin, Ian
Director
Registered Company No. 11183070
Pen Mill Storage Limited
Notes to the Financial Statements
for the period ended 28 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Land and buildings10
Plant and machinery10
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Land & buildings

Plant & machinery

Total

£££
Cost or valuation
At 01 March 234,02623,48827,514
At 28 February 244,02623,48827,514
Depreciation and impairment
At 01 March 232,0162,2144,230
Charge for year4032,3492,752
At 28 February 242,4194,5636,982
Net book value
At 28 February 241,60718,92520,532
At 28 February 232,01021,27423,284
4.Creditors: amounts due within one year

2024

2023

££
Amounts owed to related parties6,3295,618
Accrued liabilities and deferred income714690
Total7,0436,308
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.