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REGISTERED NUMBER: 08505939 (England and Wales)














Financial Statements for the Year Ended 30 April 2024

for

Pennlands Limited

Pennlands Limited (Registered number: 08505939)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pennlands Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: Mrs R D Isaacs





REGISTERED OFFICE: 1C Amberside
Wood Lane
Hemel Hempstead
Hertfordshire
HP2 4TP





REGISTERED NUMBER: 08505939 (England and Wales)





ACCOUNTANTS: Farrell & Co
1C Amberside
Wood Lane
Hemel Hempstead
Hertfordshire
HP2 4TP

Pennlands Limited (Registered number: 08505939)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,768 2,685
Investment property 5 1,500,000 1,500,000
1,503,768 1,502,685

CURRENT ASSETS
Cash at bank 1 283

CREDITORS
Amounts falling due within one year 6 67,486 80,588
NET CURRENT LIABILITIES (67,485 ) (80,305 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,436,283

1,422,380

CREDITORS
Amounts falling due after more than one year 7 (795,000 ) (795,000 )

PROVISIONS FOR LIABILITIES (113,570 ) (113,318 )
NET ASSETS 527,713 514,062

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9 527,712 514,061
SHAREHOLDERS' FUNDS 527,713 514,062

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Pennlands Limited (Registered number: 08505939)

Balance Sheet - continued
30 April 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 January 2025 and were signed by:





Mrs R D Isaacs - Director


Pennlands Limited (Registered number: 08505939)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Pennlands Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 or deferred taxation assets and liabilities are 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

Pennlands Limited (Registered number: 08505939)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 9,124 15,871 5,660 2,049 32,704
Additions 1,482 758 - - 2,240
At 30 April 2024 10,606 16,629 5,660 2,049 34,944
DEPRECIATION
At 1 May 2023 9,124 14,477 4,369 2,049 30,019
Charge for year 296 538 323 - 1,157
At 30 April 2024 9,420 15,015 4,692 2,049 31,176
NET BOOK VALUE
At 30 April 2024 1,186 1,614 968 - 3,768
At 30 April 2023 - 1,394 1,291 - 2,685

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 1,500,000
NET BOOK VALUE
At 30 April 2024 1,500,000
At 30 April 2023 1,500,000

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2024 1,500,000

Pennlands Limited (Registered number: 08505939)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 2,717 -
Tax 3,184 4,001
Directors' current accounts 59,665 74,937
Accrued expenses 1,920 1,650
67,486 80,588

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Directors' loan accounts 795,000 795,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
1 Ordinary £1.00 1 1

9. RESERVES
Retained
earnings
£   

At 1 May 2023 514,061
Profit for the year 14,651
Dividends (1,000 )
At 30 April 2024 527,712