REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024 |
FOR |
PENSARA GROUP LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024 |
FOR |
PENSARA GROUP LTD |
PENSARA GROUP LTD (REGISTERED NUMBER: 08887951) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 29 February 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PENSARA GROUP LTD |
COMPANY INFORMATION |
for the Year Ended 29 February 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
10 London Mews |
Paddington |
LONDON |
W2 1HY |
PENSARA GROUP LTD (REGISTERED NUMBER: 08887951) |
BALANCE SHEET |
29 February 2024 |
29.2.24 | 28.2.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
PENSARA GROUP LTD (REGISTERED NUMBER: 08887951) |
BALANCE SHEET - continued |
29 February 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
PENSARA GROUP LTD (REGISTERED NUMBER: 08887951) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 29 February 2024 |
1. | STATUTORY INFORMATION |
Pensara Group Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced services, excluding value added tax. |
Rendering of services |
Revenue for providing services are recognised when the service has been completed. |
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 |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Financial instruments |
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and other creditors. |
The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments / receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current taxation is not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
PENSARA GROUP LTD (REGISTERED NUMBER: 08887951) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 29 February 2024 |
4. | INTANGIBLE FIXED ASSETS |
Computer |
software |
£ |
COST |
At 1 March 2023 |
and 29 February 2024 |
AMORTISATION |
At 1 March 2023 |
Amortisation for year |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings | Totals |
£ | £ | £ | £ |
COST |
At 1 March 2023 |
Additions |
At 29 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for year |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Trade debtors |
Other debtors |
PENSARA GROUP LTD (REGISTERED NUMBER: 08887951) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 29 February 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Bank loans |
9. | OTHER FINANCIAL COMMITMENTS |
Operating lease commitments not included in the balance sheet amount to £96,835. |
10. | RELATED PARTY DISCLOSURES |
During the year, the company paid final dividends to the shareholders in the sum of £80,000 (2023: £16,000). |
Included in the other creditors are loans totalling £40,000 (2023: £7,958) made to the company by the directors. |
Included in other debtors are amounts owed by a shareholder totalling £1,193 (2023: £Nil) to the company. |
On 10 August 2023 Pensara LLC was formed in the United States of America. The LLC is owned 100% by Pensara Group Limited. |
11. | RESERVES |
Dividends voted in the year are in the sum of £80,000 (2023: £19,536). The only other movement in retained earnings is the profit for the year. |