Registered number
06706246
Pengelly Design Limited
Filleted Accounts
30 November 2024
Pengelly Design Limited
Registered number: 06706246
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 431,601 433,255
Current assets
Debtors 4 28,934 23,763
Cash at bank and in hand 521,477 481,062
550,411 504,825
Creditors: amounts falling due within one year 5 (159,985) (196,744)
Net current assets 390,426 308,081
Net assets 822,027 741,336
Capital and reserves
Called up share capital 1 1
Profit and loss account 822,026 741,335
Shareholder's funds 822,027 741,336
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.
Simon Pengelly
Director
Approved by the board on 12 February 2025
Pengelly Design Limited
Notes to the Accounts
for the year ended 30 November 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 25% reducing balance
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2023 415,716 118,795 534,511
Additions - 3,641 3,641
At 30 November 2024 415,716 122,436 538,152
Depreciation
At 1 December 2023 - 101,256 101,256
Charge for the year - 5,295 5,295
At 30 November 2024 - 106,551 106,551
Net book value
At 30 November 2024 415,716 15,885 431,601
At 30 November 2023 415,716 17,539 433,255
4 Debtors 2024 2023
£ £
Trade debtors 29,061 23,890
Other debtors (127) (127)
28,934 23,763
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 118,942 148,500
Trade creditors 11,963 11,738
Taxation and social security costs 29,042 36,412
Other creditors 38 94
159,985 196,744
6 Controlling party
The controlling party is S Pengelly, by way of his shareholding.
7 Other information
Pengelly Design Limited is a private company limited by shares and incorporated in England. Its registered office is:
366-368 Coldharbour Lane
London
SW9 8PL
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