Registration number: 12664815

Penfold (Bristol) Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 7

Penfold (Bristol) Limited

Company Information

Directors

Dr A M Cox Dr G L Cox

Registered office

Spencer House Morston Court Aisecome Way Weston-super-Mare North Somerset BS22 8NG

Accountants

Burton Sweet Limited Chartered Accountants Spencer House Morston Court Aisecome Way Weston-super-Mare North Somerset BS22 8NG

Penfold (Bristol) Limited

(Registration number: 12664815)
Balance Sheet
31 August 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	18,644	11,854
Current assets
Debtors	5	46,608	14,274
Cash at bank and in hand		7,632	27,196
		54,240	41,470
Creditors: Amounts falling due within one year	6	(8,422)	(6,418)
Net current assets		45,818	35,052
Net assets		64,462	46,906
Capital and reserves
Called up share capital		140	140
Retained earnings		64,322	46,766
Shareholders' funds		64,462	46,906

Penfold (Bristol) Limited

(Registration number: 12664815)
Balance Sheet
31 August 2024

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

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 April 2025 and signed on its behalf by:
 

......................................... Dr A M Cox Director

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Penfold (Bristol) Limited

Notes to the Unaudited Financial Statements
Year Ended 31 August 2024

1	General information

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

The address of its registered office is:
Spencer House
Morston Court
Aisecome Way
Weston-super-Mare
North Somerset
BS22 8NG

These financial statements were authorised for issue by the Board on 7 April 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Penfold (Bristol) Limited

Notes to the Unaudited Financial Statements
Year Ended 31 August 2024

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 corporation 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.

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
Office equipment	25% straight line
Furniture and fittings	25% straight line

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.

Penfold (Bristol) Limited

Notes to the Unaudited Financial Statements
Year Ended 31 August 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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 2).

4	Tangible assets

	Land and buildings £	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
At 1 September 2023	14,309	1,625	713	16,647
Additions	11,858	-	-	11,858
At 31 August 2024	26,167	1,625	713	28,505
Depreciation
At 1 September 2023	2,862	1,218	713	4,793
Charge for the year	4,661	407	-	5,068
At 31 August 2024	7,523	1,625	713	9,861
Carrying amount
At 31 August 2024	18,644	-	-	18,644
At 31 August 2023	11,447	407	-	11,854

Included within the net book value of land and buildings above is £18,644 (2023 - £11,447) in respect of freehold land and buildings.
 

Penfold (Bristol) Limited

Notes to the Unaudited Financial Statements
Year Ended 31 August 2024

5

Debtors

	2024 £	2023 £
Other debtors	45,608	14,274
Prepayments	1,000	-
	46,608	14,274

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Taxation and social security	4,812	5,266
Accruals and deferred income	3,610	1,152
	8,422	6,418