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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
Page
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Penny Black Construction Limited Company Information for the year ended 30 October 2024
Director
David Holden
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
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Penny Black Construction Limited Statement of financial position as at 30 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
14,278 
28,556 
Current assets
Debtors
138,886 
95,538 
Cash at bank and in hand
20,503 
29,498 
159,389 
125,036 
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)
Net assets
10,596 
404 
Capital and reserves
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
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Penny Black Construction Limited Notes to the Accounts for the year ended 30 October 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
Financial instruments
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
Leased assets
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.
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Penny Black Construction Limited Notes to the Accounts for the year ended 30 October 2024
Pension costs
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 
£ 
Cost or valuation
At cost 
At 31 October 2023
57,112 
At 30 October 2024
57,112 
Depreciation
At 31 October 2023
28,556 
Charge for the year
14,278 
At 30 October 2024
42,834 
Net book value
At 30 October 2024
14,278 
At 30 October 2023
28,556 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
104,217 
50,182 
Other debtors
34,669 
45,356 
138,886 
95,538 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
18,643 
34,089 
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 
Other creditors
- 
3,040 
Accruals
30,146 
4,708 
133,128 
116,940 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
29,943 
36,248 
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Penny Black Construction Limited Notes to the Accounts for the year ended 30 October 2024
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
David Holden
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).
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