Penzer Building & Renovation Limited 04818572 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is that of building and renovation Digita Accounts Production Advanced 6.30.9574.0 true 04818572 2023-06-01 2024-05-31 04818572 2024-05-31 04818572 core:RetainedEarningsAccumulatedLosses 2024-05-31 04818572 core:ShareCapital 2024-05-31 04818572 core:CurrentFinancialInstruments 2024-05-31 04818572 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 04818572 core:FurnitureFittingsToolsEquipment 2024-05-31 04818572 core:MotorVehicles 2024-05-31 04818572 core:OtherPropertyPlantEquipment 2024-05-31 04818572 bus:SmallEntities 2023-06-01 2024-05-31 04818572 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 04818572 bus:FullAccounts 2023-06-01 2024-05-31 04818572 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 04818572 bus:RegisteredOffice 2023-06-01 2024-05-31 04818572 bus:Director2 2023-06-01 2024-05-31 04818572 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04818572 core:MotorVehicles 2023-06-01 2024-05-31 04818572 core:OfficeEquipment 2023-06-01 2024-05-31 04818572 core:PlantMachinery 2023-06-01 2024-05-31 04818572 countries:England 2023-06-01 2024-05-31 04818572 2023-05-31 04818572 core:FurnitureFittingsToolsEquipment 2023-05-31 04818572 core:MotorVehicles 2023-05-31 04818572 core:OtherPropertyPlantEquipment 2023-05-31 04818572 2022-06-01 2023-05-31 04818572 2023-05-31 04818572 core:RetainedEarningsAccumulatedLosses 2023-05-31 04818572 core:ShareCapital 2023-05-31 04818572 core:CurrentFinancialInstruments 2023-05-31 04818572 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 04818572

Penzer Building & Renovation Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Penzer Building & Renovation Limited
(Registration number: 04818572)

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Penzer Building & Renovation Limited
(Registration number: 04818572)

Company Information

Director

R I Penzer

Registered office

1 Colleton Crescent
Exeter
Devon
EX2 4DG

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Penzer Building & Renovation Limited
(Registration number: 04818572)

Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Current assets

 

Stocks

5

90

90

Debtors

6

14,793

119,155

Cash at bank and in hand

 

57,499

87,849

 

72,382

207,094

Creditors: Amounts falling due within one year

7

(25,019)

(135,403)

Net assets

 

47,363

71,691

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

47,263

71,591

Total equity

 

47,363

71,691

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 12 March 2025
 

.........................................
R I Penzer
Director

 

Penzer Building & Renovation Limited
(Registration number: 04818572)

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1 Colleton Crescent
Exeter
Devon
EX2 4DG

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Penzer Building & Renovation Limited
(Registration number: 04818572)

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

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line basis

Motor vehicles

20% straight line basis

Office equipment

20% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Penzer Building & Renovation Limited
(Registration number: 04818572)

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Penzer Building & Renovation Limited
(Registration number: 04818572)

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

4

Tangible assets

Office equipment
£

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 June 2023

3,077

13,870

7,076

24,023

At 31 May 2024

3,077

13,870

7,076

24,023

Depreciation

At 1 June 2023

3,077

13,870

7,076

24,023

At 31 May 2024

3,077

13,870

7,076

24,023

Carrying amount

At 31 May 2024

-

-

-

-

5

Stocks

2024
£

2023
£

Other stocks

90

90

6

Debtors

2024
£

2023
£

Trade debtors

14,570

14,570

Other debtors

1

104,210

Prepayments and accrued income

222

375

Total current trade and other debtors

14,793

119,155

7

Creditors

2024
£

2023
£

Due within one year

Trade creditors

160

972

Taxation and social security

20,046

7,987

Other creditors

3,305

124,937

Accrued expenses

1,508

1,507

25,019

135,403