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COMPANY REGISTRATION NUMBER: 05859625
MONEY PENNY HOLDINGS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
MONEY PENNY HOLDINGS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
MONEY PENNY HOLDINGS LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
The board of directors
Mr G P Elliott
Mr D J Phillips
Registered office
168 Church Road
Hove
East Sussex
BN3 2DL
Accountants
UHY Hacker Young
Chartered accountants
168 Church Road
Hove
BN3 2DL
MONEY PENNY HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
Current assets
Stocks
446,858
446,858
Debtors
4
107,834
20,834
Cash at bank and in hand
37,007
97,003
----------
----------
591,699
564,695
Creditors: amounts falling due within one year
5
97,856
97,402
----------
----------
Net current assets
493,843
467,293
----------
----------
Total assets less current liabilities
493,843
467,293
----------
----------
Net assets
493,843
467,293
----------
----------
Capital and reserves
Called up share capital
2
2
Profit and loss account
493,841
467,291
----------
----------
Shareholders funds
493,843
467,293
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MONEY PENNY HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 7 November 2024 , and are signed on behalf of the board by:
Mr D J Phillips
Director
Company registration number: 05859625
MONEY PENNY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. General information
The company is a private company limited by shares, registered in the United Kingdom. The address of the registered office is 168 Church Road, Hove, East Sussex, BN3 2DL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. No significant judgements have had to be made by the directors in preparing these financial statements.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
82,721
Other debtors
25,113
20,834
----------
---------
107,834
20,834
----------
---------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,893
Amounts owed to group undertakings and undertakings in which the company has a participating interest
82,561
84,428
Corporation tax
8,590
6,208
Other creditors
6,705
4,873
---------
---------
97,856
97,402
---------
---------
6. Controlling party
The company regards The Olivia Estate Limited, incorporated in the UK, as it's immediate and ultimate parent undertaking.