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Company Registration No. 12615710 (England and Wales)
PENALTY 2 LIMITED Unaudited accounts for the year ended 31 May 2024
PENALTY 2 LIMITED Unaudited accounts Contents
Page
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PENALTY 2 LIMITED Company Information for the year ended 31 May 2024
Director
Fathima Ilma Najeeb
Company Number
12615710 (England and Wales)
Registered Office
15 Ellenbrook Green Ipswich Suffolk IP2 9RR United Kingdom
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PENALTY 2 LIMITED Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
19,737 
- 
Current assets
Inventories
21,422 
4,152 
Debtors
19,637 
1,763 
Cash at bank and in hand
1,761 
23,584 
42,820 
29,499 
Creditors: amounts falling due within one year
(21,297)
(26,765)
Net current assets
21,523 
2,734 
Net assets
41,260 
2,734 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
41,160 
2,634 
Shareholders' funds
41,260 
2,734 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 May 2025 and were signed on its behalf by
Fathima Ilma Najeeb Director Company Registration No. 12615710
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PENALTY 2 LIMITED Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
PENALTY 2 LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12615710. The registered office is 15 Ellenbrook Green, Ipswich, Suffolk, IP2 9RR, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25 % on RBM
Fixtures & fittings
25 % on RBM
Presentation currency
The accounts are presented in £ sterling.
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2023
- 
- 
- 
Additions
6,200 
20,116 
26,316 
At 31 May 2024
6,200 
20,116 
26,316 
Depreciation
Charge for the year
1,550 
5,029 
6,579 
At 31 May 2024
1,550 
5,029 
6,579 
Net book value
At 31 May 2024
4,650 
15,087 
19,737 
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PENALTY 2 LIMITED Notes to the Accounts for the year ended 31 May 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,637 
1,763 
Other debtors
18,000 
- 
19,637 
1,763 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
2,358 
3,102 
Trade creditors
9,526 
18,898 
Taxes and social security
5,251 
2,020 
Other creditors
142 
- 
Loans from directors
320 
(55)
Accruals
3,700 
2,800 
21,297 
26,765 
7
Average number of employees
During the year the average number of employees was 4 (2023: 4).
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