Registered number
02936854
Penrose Trading Limited
30 June 2024
Penrose Trading Limited
Registered number: 02936854
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,288 1,931
Current assets
Cash at bank and in hand 6,608 8,422
Creditors: amounts falling due within one year 4 (77,141) (66,890)
Net current liabilities (70,533) (58,468)
Total assets less current liabilities (69,245) (56,537)
Provisions for liabilities - (367)
Net liabilities (69,245) (56,904)
Capital and reserves
Called up share capital 2 2
Profit and loss account (69,247) (56,906)
Shareholder's funds (69,245) (56,904)
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 member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
M Roberton
Director
Approved by the board on 28 March 2025
Penrose Trading Limited
Notes to the Accounts
for the year ended 30 June 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 33.33% RBM
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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 35,419
At 30 June 2024 35,419
Depreciation
At 1 July 2023 33,488
Charge for the year 643
At 30 June 2024 34,131
Net book value
At 30 June 2024 1,288
At 30 June 2023 1,931
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 780 -
Other creditors 76,361 66,890
77,141 66,890
5 Other information
Penrose Trading Limited is a private company limited by shares and incorporated in England. Its registered office is:
Building 18, Gateway 1000
Whittle Way, Arlington Business Park
Stevenage
Hertfordshire
SG1 2FP
Penrose Trading Limited 02936854 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts July 2024 M Roberton No description of principal activity 02936854 2022-07-01 2023-06-30 02936854 core:WithinOneYear 2023-06-30 02936854 core:ShareCapital 2023-06-30 02936854 core:RetainedEarningsAccumulatedLosses 2023-06-30 02936854 2023-07-01 2024-06-30 02936854 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02936854 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 02936854 bus:Director40 2023-07-01 2024-06-30 02936854 1 2023-07-01 2024-06-30 02936854 2 2023-07-01 2024-06-30 02936854 core:PlantMachinery 2023-07-01 2024-06-30 02936854 countries:England 2023-07-01 2024-06-30 02936854 bus:FRS102 2023-07-01 2024-06-30 02936854 bus:FilletedAccounts 2023-07-01 2024-06-30 02936854 2024-06-30 02936854 core:WithinOneYear 2024-06-30 02936854 core:ShareCapital 2024-06-30 02936854 core:RetainedEarningsAccumulatedLosses 2024-06-30 02936854 core:PlantMachinery 2024-06-30 02936854 2023-06-30 02936854 core:PlantMachinery 2023-06-30 iso4217:GBP xbrli:pure