Acorah Software Products - Accounts Production 16.3.350 false true true 31 January 2024 20 January 2023 false 1 February 2024 31 January 2025 31 January 2025 14607128 Mrs Julie Penney Mr Stephen Penney iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14607128 2024-01-31 14607128 2025-01-31 14607128 2024-02-01 2025-01-31 14607128 frs-core:CurrentFinancialInstruments 2025-01-31 14607128 frs-core:ComputerEquipment 2025-01-31 14607128 frs-core:ComputerEquipment 2024-02-01 2025-01-31 14607128 frs-core:ComputerEquipment 2024-01-31 14607128 frs-core:FurnitureFittings 2025-01-31 14607128 frs-core:FurnitureFittings 2024-02-01 2025-01-31 14607128 frs-core:FurnitureFittings 2024-01-31 14607128 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2025-01-31 14607128 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-02-01 2025-01-31 14607128 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-31 14607128 frs-core:MotorVehicles 2025-01-31 14607128 frs-core:MotorVehicles 2024-02-01 2025-01-31 14607128 frs-core:MotorVehicles 2024-01-31 14607128 frs-core:PlantMachinery 2025-01-31 14607128 frs-core:PlantMachinery 2024-02-01 2025-01-31 14607128 frs-core:PlantMachinery 2024-01-31 14607128 frs-core:ShareCapital 2025-01-31 14607128 frs-core:RetainedEarningsAccumulatedLosses 2025-01-31 14607128 frs-bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 14607128 frs-bus:FilletedAccounts 2024-02-01 2025-01-31 14607128 frs-bus:SmallEntities 2024-02-01 2025-01-31 14607128 frs-bus:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 14607128 frs-bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 14607128 frs-bus:Director1 2024-02-01 2025-01-31 14607128 frs-bus:Director2 2024-02-01 2025-01-31 14607128 frs-countries:EnglandWales 2024-02-01 2025-01-31 14607128 2023-01-19 14607128 2024-01-31 14607128 2023-01-20 2024-01-31 14607128 frs-core:CurrentFinancialInstruments 2024-01-31 14607128 frs-core:ShareCapital 2024-01-31 14607128 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31
Registered number: 14607128
Penney Inns Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14607128
31 January 2025 31 January 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 38,744 40,695
38,744 40,695
CURRENT ASSETS
Stocks 5 3,000 3,000
Debtors 6 714 505
Cash at bank and in hand 14,910 23,602
18,624 27,107
Creditors: Amounts Falling Due Within One Year 7 (57,965 ) (65,079 )
NET CURRENT ASSETS (LIABILITIES) (39,341 ) (37,972 )
TOTAL ASSETS LESS CURRENT LIABILITIES (597 ) 2,723
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 - (500 )
NET (LIABILITIES)/ASSETS (597 ) 2,223
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (697 ) 2,123
SHAREHOLDERS' FUNDS (597) 2,223
Page 1
Page 2
For the year ending 31 January 2025 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Julie Penney
Director
14th May 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Penney Inns Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14607128 . The registered office is 9 Byford Court, Crockatt Road, Hadleigh, Suffolk, IP7 6RD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The company is loss making this year with a loss of -£2,820 (2024: profit of £2,123).  The company at year-end also has net current liabilities of -£39,341 (2024: -£37,972) and net liabilities of -£597 (2024: net assets of £2,223). The Director has reviewed the company's cash-flows over the next twelve months, and will provide financial support if necessary. As such it has been deemed appropriate to prepare the accounts on a going concern basis.
2.3. Turnover
Turnover represents the sales of goods and services, is recognised on provision of both goods or services and excludes value added tax.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 4% straight line
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 February 2024 5,282 28,082 19,000 417
Additions 4,331 1,291 - 2,065
As at 31 January 2025 9,613 29,373 19,000 2,482
Depreciation
As at 1 February 2024 211 7,021 4,750 104
Provided during the period 385 5,588 3,563 595
As at 31 January 2025 596 12,609 8,313 699
Net Book Value
As at 31 January 2025 9,017 16,764 10,687 1,783
As at 1 February 2024 5,071 21,061 14,250 313
Computer Equipment Total
£ £
Cost
As at 1 February 2024 - 52,781
Additions 657 8,344
As at 31 January 2025 657 61,125
Depreciation
As at 1 February 2024 - 12,086
Provided during the period 164 10,295
As at 31 January 2025 164 22,381
Net Book Value
As at 31 January 2025 493 38,744
As at 1 February 2024 - 40,695
5. Stocks
31 January 2025 31 January 2024
£ £
Stock 3,000 3,000
6. Debtors
31 January 2025 31 January 2024
£ £
Due within one year
Other debtors 714 505
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
31 January 2025 31 January 2024
£ £
Trade creditors 590 39
Other creditors 54,598 64,068
Taxation and social security 2,777 972
57,965 65,079
8. Deferred Taxation
The provision for deferred tax is made up as follows:
31 January 2025 31 January 2024
£ £
Other timing differences - 500
9. Share Capital
31 January 2025 31 January 2024
£ £
Allotted, Called up and fully paid 100 100
Page 5