Registration number: 06384285

Peniche Ventures Ltd

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 6

Peniche Ventures Ltd

(Registration number: 06384285)
Balance Sheet as at 30 September 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	5,778	7,062
Investment property	5	165,000	165,000
		170,778	172,062
Current assets
Debtors	6	15,599	18,200
Cash at bank and in hand		402	477
		16,001	18,677
Creditors: Amounts falling due within one year	7	(264,571)	(4,831)
Net current (liabilities)/assets		(248,570)	13,846
Total assets less current liabilities		(77,792)	185,908
Creditors: Amounts falling due after more than one year	7	-	(274,341)
Net liabilities		(77,792)	(88,433)
Capital and reserves
Called up share capital		2	2
Retained earnings		(77,794)	(88,435)
Shareholders' deficit		(77,792)	(88,433)

Peniche Ventures Ltd

(Registration number: 06384285)
Balance Sheet as at 30 September 2024

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 June 2025 and signed on its behalf by:
 

......................................... Mr S R Marsh Director

Peniche Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1	General information

The company is a private company limited by share capital, incorporated in England and ales.

The address of its registered office is:
Greta House
156 Chester Road
Hazel Grove
Stockport
SK7 6NE

These financial statements were authorised for issue by the Board on 4 June 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' 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

At the balance sheet date, the company had net liabilities. The company has received assurances from the director that he will continue to give financial support to the company for the foreseeable future and for a period not less than 12 months from the date of signing these financial statements.

On this basis, the director considers it appropriate to prepare the accounts on the going concern basis. However, should the financial support mentioned above not be forthcoming the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be be necessary should this basis not continue to be appropriate.

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.

Peniche Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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
Plant and machinery	10% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. Changes in fair value are recognised in profit or loss.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

Peniche Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4	Tangible assets

	Plant and machinery £	Total £
Cost or valuation
At 1 October 2023	12,840	12,840
At 30 September 2024	12,840	12,840
Depreciation
At 1 October 2023	5,778	5,778
Charge for the year	1,284	1,284
At 30 September 2024	7,062	7,062
Carrying amount
At 30 September 2024	5,778	5,778
At 30 September 2023	7,062	7,062

5	Investment properties

	2024 £
At 1 October	165,000
At 30 September	165,000

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current	2024 £	2023 £
Other debtors	15,599	18,200
	15,599	18,200

Peniche Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings		263,941	-
Accruals and deferred income		630	630
Other creditors		-	4,201
		264,571	4,831

Creditors include loans which are secured on the assets of the company of £263,941 (2023 - £Nil).

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings		-	274,341

Creditors falling due after more than one year include loans which are secured on the assets of the company of £Nil (2023 - £274,341).

8	Related party transactions

Summary of transactions with other related parties

Included within Creditors due within one year is £263,941 (2023: £Nil) owed to Peniche Limited, a company registered in England and Wales, which is under common control. The loan is interest free and repayable on demand.