Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-282024-02-28No description of principal activity2023-03-01false64falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08897880 2023-03-01 2024-02-28 08897880 2022-03-01 2023-02-28 08897880 2024-02-28 08897880 c:Director1 2023-03-01 2024-02-28 08897880 2023-02-28 08897880 d:OfficeEquipment 2023-03-01 2024-02-28 08897880 d:OfficeEquipment 2024-02-28 08897880 d:OfficeEquipment 2023-02-28 08897880 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 08897880 d:CurrentFinancialInstruments 2024-02-28 08897880 d:CurrentFinancialInstruments 2023-02-28 08897880 d:Non-currentFinancialInstruments 2024-02-28 08897880 d:Non-currentFinancialInstruments 2023-02-28 08897880 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-28 08897880 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 08897880 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-28 08897880 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 08897880 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-28 08897880 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 08897880 d:ShareCapital 2024-02-28 08897880 d:ShareCapital 2023-02-28 08897880 d:RetainedEarningsAccumulatedLosses 2024-02-28 08897880 d:RetainedEarningsAccumulatedLosses 2023-02-28 08897880 c:FRS102 2023-03-01 2024-02-28 08897880 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 08897880 c:FullAccounts 2023-03-01 2024-02-28 08897880 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 08897880 e:PoundSterling 2023-03-01 2024-02-28 iso4217:GBP xbrli:pure
Company registration number: 08897880











PENNY HAMILTON INTERIORS LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 28 FEBRUARY 2024

















Coveney Nicholls Limited
Chartered Accountants
The Old Wheel House
31/37 Church Street
Reigate
Surrey
UK

RH2 0AD

 
PENNY HAMILTON INTERIORS LTD
REGISTERED NUMBER:08897880

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
162
323

  
162
323

Current assets
  

Stocks
  
69,859
68,324

Debtors: amounts falling due within one year
 5 
395
-

Cash at bank and in hand
  
1,809
7,441

  
72,063
75,765

Creditors: amounts falling due within one year
 6 
(30,022)
(25,894)

Net current assets
  
 
 
42,041
 
 
49,871

Total assets less current liabilities
  
42,203
50,194

Creditors: amounts falling due after more than one year
 7 
(9,795)
(15,478)

  

Net assets
  
32,408
34,716


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
32,308
34,616

  
32,408
34,716


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 November 2024.

Page 1

 
PENNY HAMILTON INTERIORS LTD
REGISTERED NUMBER:08897880
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2024




P J Eunson
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
PENNY HAMILTON INTERIORS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2024

1.


General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 Alma Road, Reigate, Surrey, RH2 0DH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied via the retail sale of home furnishings and accessories, stated net of discounts and of Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
PENNY HAMILTON INTERIORS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2024

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are
Page 4

 
PENNY HAMILTON INTERIORS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 4).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 March 2023
1,228



At 28 February 2024

1,228



Depreciation


At 1 March 2023
905


Charge for the year on owned assets
161



At 28 February 2024

1,066



Net book value



At 28 February 2024
162



At 28 February 2023
323

Page 5

 
PENNY HAMILTON INTERIORS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2024

5.


Debtors

2024
2023
£
£


Other debtors
395
-

395
-



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
546
-

Bank loans
5,684
5,543

Trade creditors
13,676
9,646

Corporation tax
-
475

Other taxation and social security
2,250
2,182

Other creditors
6,491
6,491

Accruals and deferred income
1,375
1,557

30,022
25,894


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
9,795
15,478

9,795
15,478


Page 6

 
PENNY HAMILTON INTERIORS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2024

8.
Director's advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:


2024

Balance brought forward 
Amounts repaid
Balance outstanding

£
£
£

P J Eunson
(6,491)
-
(6,491)

2023

Balance brought forward 
Amounts repaid
Balance outstanding

£
£
£

P J Eunson
(14,491)
8,000
(6,491)


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
5,684
5,543


5,684
5,543

Amounts falling due 1-2 years

Bank loans
9,795
15,478


9,795
15,478



15,479
21,021


Page 7