Company Registration No. 08268493 (England and Wales)
Penny Black Construction Limited
Unaudited accounts
for the year ended 30 October 2024
Penny Black Construction Limited
Unaudited accounts
Contents
Penny Black Construction Limited
Company Information
for the year ended 30 October 2024
Company Number
08268493 (England and Wales)
Registered Office
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ
United Kingdom
Accountants
RFM Associates
10 Carew Way
Watford
WD19 5GB
Penny Black Construction Limited
Statement of financial position
as at 30 October 2024
Tangible assets
14,278
28,556
Cash at bank and in hand
20,503
29,498
Creditors: amounts falling due within one year
(133,128)
(116,940)
Net current assets
26,261
8,096
Total assets less current liabilities
40,539
36,652
Creditors: amounts falling due after more than one year
(29,943)
(36,248)
Called up share capital
1
1
Profit and loss account
10,595
403
Shareholders' funds
10,596
404
For the year ending 30 October 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 his 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 18 July 2025 and were signed on its behalf by
David Holden
Director
Company Registration No. 08268493
Penny Black Construction Limited
Notes to the Accounts
for the year ended 30 October 2024
Penny Black Construction Limited is a private company, limited by shares, registered in England and Wales, registration number 08268493. The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised in the period when projects are completed.
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:
Motor vehicles
25% straight line
The Company only enters into basic financial instruments transactions that results in the recognition of financial assets and liabilities like trade and other debtors and creditors and other creditors and loans to related parties.
The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measures at the present value of the future payments/receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised costs using the effect interest method less any impairment. An impairment review is undertaken annually at the balance sheet date
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Penny Black Construction Limited
Notes to the Accounts
for the year ended 30 October 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Motor vehicles
Charge for the year
14,278
Amounts falling due within one year
Accrued income and prepayments
104,217
50,182
Other debtors
34,669
45,356
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
6,305
6,305
Trade creditors
44,224
30,899
Taxes and social security
33,810
37,899
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
29,943
36,248
Penny Black Construction Limited
Notes to the Accounts
for the year ended 30 October 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Amounts advanced
45,356
105,333
118,000
32,689
45,356
105,333
118,000
32,689
Directors' loan cleared with a dividend of £33,000 on 10 April 2025.
9
Average number of employees
During the year the average number of employees was 3 (2023: 2).