REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
FOR |
PENSTONE COMMUNICATIONS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024 |
FOR |
PENSTONE COMMUNICATIONS LIMITED |
PENSTONE COMMUNICATIONS LIMITED (REGISTERED NUMBER: 05246891) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30th September 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PENSTONE COMMUNICATIONS LIMITED |
COMPANY INFORMATION |
for the Year Ended 30th September 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
222 Upper Richmond Road West |
London |
SW14 8AH |
PENSTONE COMMUNICATIONS LIMITED (REGISTERED NUMBER: 05246891) |
BALANCE SHEET |
30th September 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve | 8 |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
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. |
PENSTONE COMMUNICATIONS LIMITED (REGISTERED NUMBER: 05246891) |
BALANCE SHEET - continued |
30th September 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
PENSTONE COMMUNICATIONS LIMITED (REGISTERED NUMBER: 05246891) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30th September 2024 |
1. | STATUTORY INFORMATION |
PENSTONE COMMUNICATIONS LIMITED is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
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 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 |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
PENSTONE COMMUNICATIONS LIMITED (REGISTERED NUMBER: 05246891) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30th September 2024 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company's workplace pension scheme for its employees is provided through automatic enrolment pension scheme in line with Government legislation. |
Under the terms of this scheme, employees make pension contributions out of their salaries, and the company also makes additional contributions. |
Contributions payable for the year are charged to the profit and loss account in the period to which they relate. Staff contribution are charged to wages and salaries and company contribution are charged to pension cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st October 2023 |
Additions |
Disposals | ( |
) |
At 30th September 2024 |
DEPRECIATION |
At 1st October 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30th September 2024 |
NET BOOK VALUE |
At 30th September 2024 |
At 30th September 2023 |
PENSTONE COMMUNICATIONS LIMITED (REGISTERED NUMBER: 05246891) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30th September 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1st October 2023 |
Disposals | ( |
) |
At 30th September 2024 |
DEPRECIATION |
At 1st October 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30th September 2024 |
NET BOOK VALUE |
At 30th September 2024 |
At 30th September 2023 |
5. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
Included in Other debtors are Contract hire lease advance payment and future commitments due to be charged to profit and loss accounts over the duration of the contract term. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
PENSTONE COMMUNICATIONS LIMITED (REGISTERED NUMBER: 05246891) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30th September 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
Other creditors are Contract hire lease commitments due more than 1 year. |
8. | RESERVES |
Capital |
Retained | redemption |
earnings | reserve | Totals |
£ | £ | £ |
At 1st October 2023 | 238,441 |
Profit for the year |
Dividends | ( |
) | ( |
) |
Purchase of own shares | (75,000 | ) | 25 | (74,975 | ) |
At 30th September 2024 | 187,750 |
Share Buyback |
1. Nature and Purpose of the Transaction: |
The company bought back 25 Class B ordinary shares with a nominal value of £1 each for a total consideration of £75,000. The share buyback was for the benefit of the company's trade. These shares were cancelled. |
2. Impact on Financial Statements: |
The share buyback has resulted in a reduction of equity by £75,000. This has been reflected in the company's financial statements. |
3. Compliance with Legal Requirements: |
The company confirms that the share buyback meets the requirements of Companies Act 2006. The necessary shareholder resolutions were passed, and the directors provided statements of solvency. |
Notice of cancellation of the buyback shares have been filed at Companies House. |
9. | GUARANTEES AND OTHER FINANCIAL COMMITMENTS |
The company's bankers has a fixed and floating registered charges secured over the company's assets, for the provision of banking facilities, namely Direct debit mandate holder and other services provided to the company. |
10. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £99,500 (2023 - £52,800) were paid to the directors . |
PENSTONE COMMUNICATIONS LIMITED (REGISTERED NUMBER: 05246891) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30th September 2024 |
10. | RELATED PARTY DISCLOSURES - continued |
At 30th September 2024 the company owed Mr Robinson £259 (2023: £54). |
SHARE BUYBACK |
During the year ended 30 September 2024, the company bought back 25 Class B ordinary shares with a nominal value of £1 each, from its shareholder who is related party due to their shared influence they had over the company. Total consideration involved in the buyback was £75,000. |
There are no outstanding balances related to this buyback transaction. |
The company has met all legal requirements for the share buyback, including obtaining the necessary shareholder resolutions and directors' statements of solvency in compliance with Companies Act 2006. |
11. | ULTIMATE CONTROLLING PARTY |
The directors are the ultimate controlling party. |