Registered number
09836993
Pendennis House Ltd
Filleted Accounts
30 September 2024
Pendennis House Ltd
Registered number: 09836993
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 347,891 48,403
Current assets
Debtors 4 218,082 513,750
Cash at bank and in hand 168,854 107,299
386,936 621,049
Creditors: amounts falling due within one year 5 (376,145) (154,383)
Net current assets 10,791 466,666
Total assets less current liabilities 358,682 515,069
Creditors: amounts falling due after more than one year 6 (64,628) (76,569)
Provisions for liabilities (4,295) (9,197)
Net assets 289,759 429,303
Capital and reserves
Called up share capital 12 12
Profit and loss account 289,747 429,291
Shareholders' funds 289,759 429,303
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Claire May Grimsey
Director
Approved by the board on 1 March 2025
Pendennis House Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 39 36
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 - 17,457 80,894 98,351
Additions 275,000 2,019 48,000 325,019
Disposals - - (5,200) (5,200)
At 30 September 2024 275,000 19,476 123,694 418,170
Depreciation
At 1 October 2023 - 11,040 38,908 49,948
Charge for the year - 2,109 22,188 24,297
On disposals - - (3,966) (3,966)
At 30 September 2024 - 13,149 57,130 70,279
Net book value
At 30 September 2024 275,000 6,327 66,564 347,891
At 30 September 2023 - 6,417 41,986 48,403
4 Debtors 2024 2023
£ £
Trade debtors 46,097 145,824
Other debtors 171,985 367,926
218,082 513,750
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,556 3,704
Obligations under finance lease and hire purchase contracts 42,086 9,736
Taxation and social security costs 87,730 117,620
Other creditors 240,773 23,323
376,145 154,383
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 28,906 34,483
Obligations under finance lease and hire purchase contracts 35,722 42,086
64,628 76,569
7 Related party transactions
At the period end the company was owed £132,015 (2023: £260,289) by Miss Claire May Grimsey, director. The loan is interest free and repayable on demand.
8 Controlling party
The company is ultimately controlled by Miss Claire May Grimsey who controls 100% of the voting share capital.
9 Other information
Pendennis House Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Tre-Ru House
The Leats
Truro
Cornwall
TR1 3AG
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