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REGISTERED NUMBER: 11783813 (England and Wales)









Financial Statements

for the Year Ended 31 January 2024

for

Penway Holdings Ltd

Penway Holdings Ltd (Registered number: 11783813)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Penway Holdings Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: D R Neerkin
Ms S Khan





REGISTERED OFFICE: Cavell House
2a Charing Cross Road
London
WC2H 0HF





REGISTERED NUMBER: 11783813 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Penway Holdings Ltd (Registered number: 11783813)

Balance Sheet
31 January 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 91,667 -
Tangible assets 5 4,289 5,390
95,956 5,390

CURRENT ASSETS
Debtors 6 237,968 100
Cash at bank 280,604 298,202
518,572 298,302
CREDITORS
Amounts falling due within one year 7 (308,117 ) (114,057 )
NET CURRENT ASSETS 210,455 184,245
TOTAL ASSETS LESS CURRENT
LIABILITIES

306,411

189,635

CAPITAL AND RESERVES
Called up share capital 200 100
Retained earnings 306,211 189,535
306,411 189,635

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





D R Neerkin - Director


Penway Holdings Ltd (Registered number: 11783813)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Penway Holdings Ltd 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.

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

Income is recognised when the service is provided.

Goodwill
Goodwill is being amortised evenly over its estimated useful life of 5 years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 2 ) .

Penway Holdings Ltd (Registered number: 11783813)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 100,000
At 31 January 2024 100,000
AMORTISATION
Charge for year 8,333
At 31 January 2024 8,333
NET BOOK VALUE
At 31 January 2024 91,667

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 7,186
Additions 928
At 31 January 2024 8,114
DEPRECIATION
At 1 February 2023 1,796
Charge for year 2,029
At 31 January 2024 3,825
NET BOOK VALUE
At 31 January 2024 4,289
At 31 January 2023 5,390

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 37,768 1
Other debtors 200,200 99
237,968 100

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 12,761 9,375
Taxation and social security 199,341 101,773
Other creditors 96,015 2,909
308,117 114,057

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other debtors at the year end is an amount of £90,015 (2023: £nil) due to the director, D R Neerkin. This amount has been provided unsecured, interest free and is repayable on demand.