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REGISTERED NUMBER: 04749582 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

PENNYROYAL RYE LIMITED

PENNYROYAL RYE LIMITED (REGISTERED NUMBER: 04749582)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 7

PENNYROYAL RYE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: D L Smith
C J Smith





SECRETARY: D L Smith





REGISTERED OFFICE: 20 Havelock Road
Hastings
East Sussex
TN34 1BP





REGISTERED NUMBER: 04749582 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP

PENNYROYAL RYE LIMITED (REGISTERED NUMBER: 04749582)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 25,715 30,635
25,715 30,635

CURRENT ASSETS
Stocks 65,000 80,000
Cash at bank and in hand 38,953 36,233
103,953 116,233
CREDITORS
Amounts falling due within one year 6 82,900 93,240
NET CURRENT ASSETS 21,053 22,993
TOTAL ASSETS LESS CURRENT
LIABILITIES

46,768

53,628

CREDITORS
Amounts falling due after more than one
year

7

(3,963

)

(7,968

)

PROVISIONS FOR LIABILITIES (6,232 ) (5,661 )
NET ASSETS 36,573 39,999

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 36,471 39,897
SHAREHOLDERS' FUNDS 36,573 39,999

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

PENNYROYAL RYE LIMITED (REGISTERED NUMBER: 04749582)

BALANCE SHEET - continued
30 JUNE 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 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 17 January 2025 and were signed on its behalf by:




C J Smith - Director



D L Smith - Director


PENNYROYAL RYE LIMITED (REGISTERED NUMBER: 04749582)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

PennyRoyal Rye 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
The directors have made an assessment about the company's ability to continue as a going concern and they do not consider there to be any material uncertainties. As a result they have adopted the going concern basis of accounting.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax. Turnover is recognised when the company obtains the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty 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.
Short leasehold - over term of lease
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

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

PENNYROYAL RYE LIMITED (REGISTERED NUMBER: 04749582)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 160,000
AMORTISATION
At 1 July 2023
and 30 June 2024 160,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 July 2023 579 36,768 27,195
Additions - - 1,347
At 30 June 2024 579 36,768 28,542
DEPRECIATION
At 1 July 2023 579 23,455 24,569
Charge for year - 1,997 596
At 30 June 2024 579 25,452 25,165
NET BOOK VALUE
At 30 June 2024 - 11,316 3,377
At 30 June 2023 - 13,313 2,626

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 19,595 2,757 86,894
Additions - - 1,347
At 30 June 2024 19,595 2,757 88,241
DEPRECIATION
At 1 July 2023 4,899 2,757 56,259
Charge for year 3,674 - 6,267
At 30 June 2024 8,573 2,757 62,526
NET BOOK VALUE
At 30 June 2024 11,022 - 25,715
At 30 June 2023 14,696 - 30,635

PENNYROYAL RYE LIMITED (REGISTERED NUMBER: 04749582)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 4,006 4,006
Tax 3,014 1,258
Social security and other taxes 4 (213 )
VAT 3,129 4,481
Other creditors 928 1,913
Deposits held 250 250
Directors' current accounts 70,019 80,075
Accrued expenses 1,550 1,470
82,900 93,240

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans - 1-2 years 3,963 4,107
Bank loans - 2-5 years - 3,861
3,963 7,968

8. RELATED PARTY DISCLOSURES

One of the premises from which the company trades is owned by the directors. During the year £10,000 was paid by the company to the directors for the rent of this property.

As at the balance sheet date the company owed an amount as detailed under note 8 to the directors. There are no terms attached to this loan and no interest is charged.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PENNYROYAL RYE LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PennyRoyal Rye Limited for the year ended 30 June 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of PennyRoyal Rye Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of PennyRoyal Rye Limited and state those matters that we have agreed to state to the Board of Directors of PennyRoyal Rye Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PennyRoyal Rye Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that PennyRoyal Rye Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PennyRoyal Rye Limited. You consider that PennyRoyal Rye Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of PennyRoyal Rye Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP


4 February 2025