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REGISTERED NUMBER: 03612664 (England and Wales)



















Financial Statements

for the Year Ended 31 August 2024

for

Penmark Limited

Penmark Limited (Registered number: 03612664)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Penmark Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: V M Young
G C Young





SECRETARY: G C Young





REGISTERED OFFICE: The Mills
Canal Street
Derby
DE1 2RJ





REGISTERED NUMBER: 03612664 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Penmark Limited (Registered number: 03612664)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,484 -
4,484 -

CURRENT ASSETS
Debtors 6 636,140 314,179
Cash at bank 551,641 37,285
1,187,781 351,464
CREDITORS
Amounts falling due within one year 7 867,463 160,280
NET CURRENT ASSETS 320,318 191,184
TOTAL ASSETS LESS CURRENT
LIABILITIES

324,802

191,184

CREDITORS
Amounts falling due after more than one
year

8

7,500

17,500
NET ASSETS 317,302 173,684

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 317,201 173,583
SHAREHOLDERS' FUNDS 317,302 173,684

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Penmark Limited (Registered number: 03612664)

Balance Sheet - continued
31 August 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 May 2025 and were signed on its behalf by:





G C Young - Director


Penmark Limited (Registered number: 03612664)

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

1. STATUTORY INFORMATION

Penmark Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value of services performed during the year excluding value added tax. Turnover is recognised in the year in which the service is provided.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Invoice discounting
The debts factored are included within trade debtors with a financing limit relating to proceeds received from the debt factor included within creditors.

The interest element and other factoring charges are recognised within the profit and loss account as they accrue.

Leasing commitments
Rentals paid under operating leases are charged to profit and loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Domain
names
£   
COST
At 1 September 2023
and 31 August 2024 3,000
AMORTISATION
At 1 September 2023
and 31 August 2024 3,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

Penmark Limited (Registered number: 03612664)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

5. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 September 2023 40,437
Additions 6,726
At 31 August 2024 47,163
DEPRECIATION
At 1 September 2023 40,437
Charge for year 2,242
At 31 August 2024 42,679
NET BOOK VALUE
At 31 August 2024 4,484
At 31 August 2023 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 402,857 170,494
Other debtors 7,200 -
Directors' loan account 218,222 137,944
Prepayments 7,861 5,741
636,140 314,179

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 20,937
Trade creditors 116,240 62,900
Tax 115,915 36,229
Social security and other taxes 171,735 38,066
Other creditors 846 528
Accruals and deferred income 452,727 1,620
867,463 160,280

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loan 7,500 17,500

Penmark Limited (Registered number: 03612664)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 14,715 9,004
Between one and five years 36,313 31,515
51,028 40,519

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 10,937

The bank overdraft is secured on trade debtors.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The amount due from the directors at the year end is shown in note 6. Interest was charged at the official rate and the balance is repayable on demand.