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Filleted
Registration number: 15066201

Penbryn Park Ltd

Unaudited Filleted Financial Statements

for the Period from 11 August 2023 to 31 December 2024

 

Penbryn Park Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Penbryn Park Ltd

Company Information

Director

Mr H R Davies

Registered office

Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

 

Penbryn Park Ltd

(Registration number: 15066201)
Balance Sheet as at 31 December 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

46,339

Current assets

 

Stocks

5

14,000

Debtors

6

6,174

Cash at bank and in hand

 

37,672

 

57,846

Creditors: Amounts falling due within one year

7

(31,063)

Net current assets

 

26,783

Net assets

 

73,122

Capital and reserves

 

Called up share capital

8

103

Retained earnings

73,019

Shareholders' funds

 

73,122

For the financial period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 June 2025
 

.........................................
Mr H R Davies
Director

   
     
 

Penbryn Park Ltd

Notes to the Unaudited Financial Statements for the Period from 11 August 2023 to 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

These financial statements were authorised for issue by the director on 2 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

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Penbryn Park Ltd

Notes to the Unaudited Financial Statements for the Period from 11 August 2023 to 31 December 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

20% Reducing Balance

Motor vehicles

25% Reducing Balance

Long leasehold property

5% Straight Line

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Penbryn Park Ltd

Notes to the Unaudited Financial Statements for the Period from 11 August 2023 to 31 December 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Tangible assets

Long leasehold land and buildings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

Additions

25,912

19,337

8,197

53,446

At 31 December 2024

25,912

19,337

8,197

53,446

Depreciation

Charge for the period

1,296

3,762

2,049

7,107

At 31 December 2024

1,296

3,762

2,049

7,107

Carrying amount

At 31 December 2024

24,616

15,575

6,148

46,339

Included within the net book value of land and buildings above is £24,617 in respect of long leasehold land and buildings.
 

5

Stocks

2024
£

Other inventories

14,000

 

Penbryn Park Ltd

Notes to the Unaudited Financial Statements for the Period from 11 August 2023 to 31 December 2024

6

Debtors

Current

2024
£

Trade debtors

2,174

Other debtors

4,000

 

6,174

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Trade creditors

 

9,311

Taxation and social security

 

510

Directors' loan accounts

 

295

Other creditors

 

4,786

Corporation tax liability

 

16,161

 

31,063

 

Penbryn Park Ltd

Notes to the Unaudited Financial Statements for the Period from 11 August 2023 to 31 December 2024

8

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary of £1 each

100

100

A Ordinary of £1 each

1

1

B Ordinary of £1 each

1

1

C Ordinary of £1 each

1

1

103

103

9

Related party transactions

Transactions with directors

As at the balance sheet date, Mr H Davies was owed £295 from the company. The loan is interest free and repayable on demand.