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Registration number: 06330852

Pennine Rail Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Pennine Rail Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Pennine Rail Limited

Company Information

Director

Mr Martin John Tonge

Company secretary

Mr Nicholas Andrew Tonge

Registered office

213 Derbyshire Lane
Norton Lees
Sheffield
South Yorkshire
S8 8SA

Accountants

Thorntons Accountants Limited
Chartered Certified Accountants
213 Derbyshire Lane
Norton Lees
Sheffield
South Yorkshire
S8 8SA

 

Pennine Rail Limited

(Registration number: 06330852)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3

4

Current assets

 

Stocks

5

563

602

Debtors

6

7

7

Cash at bank and in hand

 

389

775

 

959

1,384

Creditors: Amounts falling due within one year

7

(14,600)

(10,092)

Net current liabilities

 

(13,641)

(8,708)

Net liabilities

 

(13,638)

(8,704)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(13,738)

(8,804)

Shareholders' deficit

 

(13,638)

(8,704)

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.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 May 2025
 

 

Pennine Rail Limited

(Registration number: 06330852)
Balance Sheet as at 31 August 2024

.........................................
Mr Martin John Tonge
Director

 

Pennine Rail Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

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

The address of its registered office is:
213 Derbyshire Lane
Norton Lees
Sheffield
South Yorkshire
S8 8SA

The principal place of business is:
16 Meadowfield Close
Hadfield
Glossop
Derbyshire
SK13 2BL

These financial statements were authorised for issue by the director on 27 May 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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

 

Pennine Rail Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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.

Tax

The tax expense for the period comprises 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 income 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

Fixtures and fittings

33% on cost and 25% on reducing balance

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.

 

Pennine Rail Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Pennine Rail Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 September 2023

8,682

8,682

At 31 August 2024

8,682

8,682

Depreciation

At 1 September 2023

8,678

8,678

Charge for the year

1

1

At 31 August 2024

8,679

8,679

Carrying amount

At 31 August 2024

3

3

At 31 August 2023

4

4

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

563

602

6

Debtors

Note

2024
£

2023
£

Income tax asset

7

7

 

7

7

7

Creditors

Creditors: amounts falling due within one year

 

Pennine Rail Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

2024
£

2023
£

Due within one year

Accruals and deferred income

1,032

1,032

Other creditors

13,568

9,060

14,600

10,092

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary £1 shares of £1 each

100

100

100

100

       

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £Nil per each Ordinary £1 shares

-

-

 

 

10

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

3,056

2,274

Contributions paid to money purchase schemes

1,200

1,200

4,256

3,474