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Company registration number: 12057871
Pentagon Wealth Ltd
Unaudited filleted financial statements
30 June 2024
Pentagon Wealth Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Pentagon Wealth Ltd
Directors and other information
Directors Mr William Barr
Mr Alexander Henry
Mr Jonathan Rowe
Company number 12057871
Registered office 5th Floor The Grange
100 High Street
London
N14 6BN
Pentagon Wealth Ltd
Statement of financial position
30 June 2024
2024 2023
Note £ £ £ £
Current assets
Debtors 4 - 359
Cash at bank and in hand 4,162 1,936
_______ _______
4,162 2,295
Creditors: amounts falling due
within one year 5 ( 1,517) ( 600)
_______ _______
Net current assets 2,645 1,695
_______ _______
Total assets less current liabilities 2,645 1,695
_______ _______
Net assets 2,645 1,695
_______ _______
Capital and reserves
Called up share capital 900 900
Profit and loss account 1,745 795
_______ _______
Shareholders funds 2,645 1,695
_______ _______
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 March 2025 , and are signed on behalf of the board by:
Mr Jonathan Rowe
Director
Company registration number: 12057871
Pentagon Wealth Ltd
Notes to the financial statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 5th Floor The Grange, 100 High Street, London, N14 6BN.
2. Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ('FRS 102') and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a fair view. The financial statements are prepared in Sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
4. Debtors
2024 2023
£ £
Other debtors - 359
_______ _______
5. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax 317 -
Other creditors 1,200 600
_______ _______
1,517 600
_______ _______
6. Related party
At the financial year end the director Mr William Barr has a common interest in William Barr Consulting Ltd in which he has 90% shareholdings. During the year the amount received from connected company was £11,000. At the financial year end the director Mr Jonathan Rowe has a common interest in Jonathan Rowe Consulting Ltd in which he has 51% shareholdings. During the year the amount received from connected company was £10,000. At the financial year end the director Mr Alexander Henry has a common interest in Henry Wealth Management Ltd in which he has 95% shareholdings. During the year the amount received from connected company was £5,500.