Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-31No description of principal activityfalsefalsetrue2023-09-0111trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10347460 2023-09-01 2024-08-31 10347460 2022-09-01 2023-08-31 10347460 2024-08-31 10347460 2023-08-31 10347460 c:Director1 2023-09-01 2024-08-31 10347460 d:CurrentFinancialInstruments 2024-08-31 10347460 d:CurrentFinancialInstruments 2023-08-31 10347460 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 10347460 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 10347460 d:ShareCapital 2024-08-31 10347460 d:ShareCapital 2023-08-31 10347460 d:RetainedEarningsAccumulatedLosses 2024-08-31 10347460 d:RetainedEarningsAccumulatedLosses 2023-08-31 10347460 c:OrdinaryShareClass1 2023-09-01 2024-08-31 10347460 c:OrdinaryShareClass1 2024-08-31 10347460 c:OrdinaryShareClass1 2023-08-31 10347460 c:FRS102 2023-09-01 2024-08-31 10347460 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 10347460 c:FullAccounts 2023-09-01 2024-08-31 10347460 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10347460 2 2023-09-01 2024-08-31 10347460 e:PoundSterling 2023-09-01 2024-08-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 10347460









PENNYGATE PROPERTIES LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
PENNYGATE PROPERTIES LIMITED
REGISTERED NUMBER: 10347460

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
 5 
91,645
91,206

Debtors: amounts falling due within one year
 6 
59
24

Cash at bank and in hand
 7 
423
367

  
92,127
91,597

Creditors: amounts falling due within one year
 8 
(103,327)
(101,183)

Net current liabilities
  
 
 
(11,200)
 
 
(9,586)

Total assets less current liabilities
  
(11,200)
(9,586)

  

Net liabilities
  
(11,200)
(9,586)


Capital and reserves
  

Called up share capital 
 9 
360
360

Profit and loss account
  
(11,560)
(9,946)

  
(11,200)
(9,586)


Page 1

 
PENNYGATE PROPERTIES LIMITED
REGISTERED NUMBER: 10347460

BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 March 2025.




Mrs P London
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
PENNYGATE PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Pennygate Properties Limited is a private company limited by shares, incorporated in England and Wales, with a company registration number of 10347460. The address of the registered office is Anglia House, 6 Central Avenue, St Andrews Business Park, Thorpe St Andrew, Norwich, Norfolk, NR7 0HR.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis, which assumes the continued support of the company director.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


 
2.6

Stocks and work in progress

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase. Work in progress and finished goods may include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment.

Page 3

 
PENNYGATE PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
PENNYGATE PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Taxation

The company has tax losses of £10,942 (2023 £9,328) available for set-off against future trading profits.


5.


Work in progress

2024
2023
£
£

Work in progress
91,645
91,206



6.


Debtors

2024
2023
£
£


Other debtors
59
24



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
423
367



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
6,000
6,000

Other creditors
96,210
94,215

Accruals
1,117
968

103,327
101,183



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



360 (2023 - 360) Ordinary Shares shares of £1.00 each
360
360


Page 5

 
PENNYGATE PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

10.


Related party transactions

At 1 September 2023 Mrs P London's directors current account was a credit balance of £94,215, during the year monies were introduced of £1,995, leaving a credit balance of £96,210 as at 31 August 2024. The loan is interest free and repayable on demand.
At the year end the Company owed two of the shareholders £6,000 (2023 £6,000). The loan is interest free and repayable on demand.

Page 6