0
false
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2023-04-01
Sage Accounts Production Advanced 2024 - FRS102_2024
1,101
657
111
768
333
444
xbrli:pure
xbrli:shares
iso4217:GBP
03276162
2023-04-01
2024-03-31
03276162
2024-03-31
03276162
2023-03-31
03276162
2022-04-01
2023-03-31
03276162
2023-03-31
03276162
2022-03-31
03276162
bus:Director1
2023-04-01
2024-03-31
03276162
core:WithinOneYear
2024-03-31
03276162
core:WithinOneYear
2023-03-31
03276162
core:ShareCapital
2024-03-31
03276162
core:ShareCapital
2023-03-31
03276162
core:OtherReservesSubtotal
2024-03-31
03276162
core:OtherReservesSubtotal
2023-03-31
03276162
core:RetainedEarningsAccumulatedLosses
2024-03-31
03276162
core:RetainedEarningsAccumulatedLosses
2023-03-31
03276162
bus:SmallEntities
2023-04-01
2024-03-31
03276162
bus:AuditExemptWithAccountantsReport
2023-04-01
2024-03-31
03276162
bus:SmallCompaniesRegimeForAccounts
2023-04-01
2024-03-31
03276162
bus:PrivateLimitedCompanyLtd
2023-04-01
2024-03-31
03276162
bus:FullAccounts
2023-04-01
2024-03-31
03276162
core:OfficeEquipment
2023-04-01
2024-03-31
03276162
core:OfficeEquipment
2024-03-31
03276162
core:OfficeEquipment
2023-03-31
COMPANY REGISTRATION NUMBER:
03276162
PENTARA DEVELOPMENTS LIMITED |
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
PENTARA DEVELOPMENTS LIMITED |
|
STATEMENT OF FINANCIAL POSITION |
|
31 March 2024
FIXED ASSETS
Tangible assets |
5 |
|
333 |
|
444 |
|
|
|
|
|
|
CURRENT ASSETS
Stocks |
232,202 |
|
101,025 |
|
Debtors |
6 |
3,919 |
|
3,907 |
|
Investments |
7 |
17,738 |
|
17,359 |
|
Cash at bank and in hand |
398,647 |
|
404,603 |
|
|
---------- |
|
---------- |
|
|
652,506 |
|
526,894 |
|
|
|
|
|
|
|
CREDITORS: amounts falling due within one year |
8 |
155,479 |
|
12,136 |
|
|
---------- |
|
---------- |
|
NET CURRENT ASSETS |
|
497,027 |
|
514,758 |
|
|
---------- |
|
---------- |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
497,360 |
|
515,202 |
|
|
---------- |
|
---------- |
NET ASSETS |
|
497,360 |
|
515,202 |
|
|
---------- |
|
---------- |
|
|
|
|
|
|
PENTARA DEVELOPMENTS LIMITED |
|
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 March 2024
CAPITAL AND RESERVES
Called up share capital |
|
500,000 |
|
500,000 |
Other reserves |
|
(
32,914) |
|
(
32,914) |
Profit and loss account |
|
30,274 |
|
48,116 |
|
|
---------- |
|
---------- |
SHAREHOLDERS FUNDS |
|
497,360 |
|
515,202 |
|
|
---------- |
|
---------- |
|
|
|
|
|
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
.
These financial statements were approved by the
board of directors
and authorised for issue on
14 January 2025
, and are signed on behalf of the board by:
Company registration number:
03276162
PENTARA DEVELOPMENTS 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 England and Wales. The address of the registered office is Colenso House, Omega 1 Monks Cross Drive, Huntington, York, YO32 9GZ.
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
(a)
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of 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.
(b)
Joint arrangements
The company develops sites under joint arrangements with other companies through Corporate Partnership Agreements set up for this purpose. The directors are of the opinion that these arrangements are an extension of the company business and hence are accounted for under the provisions of FRS 102 Section 15 'Investments in Joint Ventures', as jointly controlled operations which are not an entity. The company accounts for its proportion of the turnover, profits , losses, assets, liabilities and cash flows measured in accordance with the terms governing the arrangement.
(c)
Going concern
In March 2020, the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. More latterly, the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(d)
Revenue recognition
Profit shares from joint ventures are recognised as the profit accrues.
Income from rents receivable is recognised in accordance with the agreed terms of the relevant lease agreements'.
(e)
Current tax
The taxation expense represents the aggregate amount of current 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.
(f)
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
(g)
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment |
- |
25% reducing balance |
|
|
|
|
(h)
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
(i)
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.
(j)
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2021: 2).
5.
TANGIBLE ASSETS
|
Equipment |
Total |
|
£ |
£ |
Cost |
|
|
At 1 April 2023 and 31 March 2024 |
1,101 |
1,101 |
|
------- |
------- |
Depreciation |
|
|
At 1 April 2023 |
657 |
657 |
Charge for the year |
111 |
111 |
|
------- |
------- |
At 31 March 2024 |
768 |
768 |
|
------- |
------- |
Carrying amount |
|
|
At 31 March 2024 |
333 |
333 |
|
------- |
------- |
At 31 March 2023 |
444 |
444 |
|
------- |
------- |
|
|
|
Tangible assets held at valuation
This represents a 6.5827% share in Gateway Venture's investment property. The valuation of the investment property was made as at 31 March 2018 by the partners who have experience in the location and category of the investment property being valued.
6.
DEBTORS
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
1,924 |
2,641 |
Other debtors |
1,995 |
1,266 |
|
------- |
------- |
|
3,919 |
3,907 |
|
------- |
------- |
|
|
|
7.
INVESTMENTS
|
2024 |
2023 |
|
£ |
£ |
Listed investments |
17,738 |
17,359 |
|
-------- |
-------- |
|
|
|
8.
CREDITORS:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Accruals |
153,993 |
10,649 |
Directors current accounts |
|
|
|
---------- |
-------- |
|
155,479 |
12,136 |
|
---------- |
-------- |
|
|
|
9.
RELATED PARTY TRANSACTIONS
In accordance with note 3(b), the company accounts for its proportion of jointly controlled operations measure in accordance with the terms governing the arrangements. In the director's opinion the portion of these joint arrangements outside the company's control is defined as a related party under Financial Reporting Standard 8. Set out below are the company's share of turnover, profits, losses, assets and liabilities of these joint arrangements recognised in the company's financial statements. Holgate Villas and Gateway Venture 2023 2022 Other operating income (12,575) (6,322) Interest receivable and other income 17 24 Stock 232,202 101,025 Fixed assets - - Debtors 1,924 2,641 Cash at Bank 685 331 Creditors due within one year (163,993) (5,883) The directors made available loans to the company throughout the year. These loans are interest free and repayable on demand. At the year end the balance of the loan accounts was £1,487 (2023: £1,487).