Registered number
10627294
Penny de Valk Growth Advisor Limited
Unaudited Filleted Accounts
28 February 2025
Penny de Valk Growth Advisor Limited
Company Information
Director
Ms P de Valk
Accountants
Keith Graham
Chartered Accountants
Suite 2 Wesley Chambers
Queens Road
Aldershot
Hampshire
GU11 3JD
Registered office
Suite 2, Wesley Chambers
Queens Road
Aldershot
Hampshire
GU11 3JD
Registered number
10627294
Penny de Valk Growth Advisor Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Penny de Valk Growth Advisor Limited for the year ended 28 February 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Penny de Valk Growth Advisor Limited for the year ended 28 February 2025 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/ members/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of Penny de Valk Growth Advisor Limited, as a body, in accordance with the terms of our engagement letter dated 15 April 2025. Our work has been undertaken solely to prepare for your approval the accounts of Penny de Valk Growth Advisor Limited and state those matters that we have agreed to state to the Board of Directors of Penny de Valk Growth Advisor Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Penny de Valk Growth Advisor Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Penny de Valk Growth Advisor Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Penny de Valk Growth Advisor Limited. You consider that Penny de Valk Growth Advisor Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Penny de Valk Growth Advisor Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Keith Graham
Chartered Accountants
Suite 2 Wesley Chambers
Queens Road
Aldershot
Hampshire
GU11 3JD
3 June 2025
Penny de Valk Growth Advisor Limited
Registered number: 10627294
Balance Sheet
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 4 863 1,572
Current assets
Debtors 5 10,683 21,838
Cash at bank and in hand - 7,523
10,683 29,361
Creditors: amounts falling due within one year 6 (9,611) (9,587)
Net current assets 1,072 19,774
Total assets less current liabilities 1,935 21,346
Creditors: amounts falling due after more than one year 7 (999) (3,999)
Provisions for liabilities (216) (393)
Net assets 720 16,954
Capital and reserves
Called up share capital 1 1
Profit and loss account 719 16,953
Shareholder's funds 720 16,954
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 her 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.
Ms P de Valk
Director
Approved by the board on 3 June 2025
Penny de Valk Growth Advisor Limited
Notes to the Accounts
for the year ended 28 February 2025
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 rendering of business growth advisory services. Turnover from the rendering of these 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Office equipment over 4 years
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Website costs:
Cost
At 1 March 2024 8,300
At 28 February 2025 8,300
Amortisation
At 1 March 2024 8,300
At 28 February 2025 8,300
Net book value
At 28 February 2025 -
Website costs have been written off over the expected useful life of the website of 4 years.
4 Tangible fixed assets
Office equipment
£
Cost
At 1 March 2024 6,886
At 28 February 2025 6,886
Depreciation
At 1 March 2024 5,314
Charge for the year 709
At 28 February 2025 6,023
Net book value
At 28 February 2025 863
At 29 February 2024 1,572
5 Debtors 2025 2024
£ £
Trade debtors 6,837 19,299
Other debtors 3,846 2,539
10,683 21,838
6 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 4,072 3,000
Trade creditors 356 574
Taxation and social security costs 753 4,322
Other creditors 4,430 1,691
9,611 9,587
7 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 999 3,999
8 Loans 2025 2024
£ £
Creditors include:
Secured bank loans 3,999 6,999
The loan is a Bounce Back Loan from Lloyds Bank plc and is guaranteed by the UK Government. The loan has a fixed rate of interest at 2.5% and the interest due in the first 12 months will be covered by a Business Interruption Payment.
9 Other information
Penny de Valk Growth Advisor Limited is a private company limited by shares and incorporated in England. Its registered office is:
Suite 2, Wesley Chambers
Queens Road
Aldershot
Hampshire
GU11 3JD
The financial statements are presented in Sterling, which is the functional currency of the company.
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