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REGISTERED NUMBER: 06855863 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PENNY & SINCLAIR LIMITED

PENNY & SINCLAIR LIMITED (REGISTERED NUMBER: 06855863)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PENNY & SINCLAIR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: O P Hope
J C Penny





REGISTERED OFFICE: Unit 2 Mayfield House
Banbury Road
Oxford
OX2 7DE





REGISTERED NUMBER: 06855863 (England and Wales)





ACCOUNTANTS: Jamesons Limited
Jamesons House
Compton Way
Witney
OX28 3AB

PENNY & SINCLAIR LIMITED (REGISTERED NUMBER: 06855863)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 40,000
Tangible assets 5 10,375 1,845
Investments 6 4,285 4,285
14,660 46,130

CURRENT ASSETS
Debtors 7 662,279 684,523
Cash at bank and in hand 204,108 106,225
866,387 790,748
CREDITORS
Amounts falling due within one year 8 620,505 533,188
NET CURRENT ASSETS 245,882 257,560
TOTAL ASSETS LESS CURRENT LIABILITIES 260,542 303,690

CREDITORS
Amounts falling due after more than one
year

9

(55,091

)

(170,464

)

PROVISIONS FOR LIABILITIES (2,594 ) (461 )
NET ASSETS 202,857 132,765

CAPITAL AND RESERVES
Called up share capital 11 200 200
Retained earnings 202,657 132,565
SHAREHOLDERS' FUNDS 202,857 132,765

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PENNY & SINCLAIR LIMITED (REGISTERED NUMBER: 06855863)

BALANCE SHEET - continued
31 DECEMBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 July 2025 and were signed on its behalf by:




J C Penny - Director



O P Hope - Director


PENNY & SINCLAIR LIMITED (REGISTERED NUMBER: 06855863)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Penny & Sinclair Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
The goodwill arising on the acquisition of unincorporated businesses over the fair value of
net assets acquired was initially recognised as an asset at cost and was being amortised over a period of 5 years in accordance with the company’s accounting policy.

As of the year ended 31 December 2024, the goodwill is now fully amortised. Accordingly, there is no carrying amount recognised at the balance sheet date (2024: £nil; 2023: £40,000).

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

PENNY & SINCLAIR LIMITED (REGISTERED NUMBER: 06855863)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12
‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to
the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the
assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference
shares that are classified as debt, are initially recognised at transaction price unless the arrangement
constitutes a financing transaction, where the debt instrument is measured at the present value of the future
payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are
not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year
or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


PENNY & SINCLAIR LIMITED (REGISTERED NUMBER: 06855863)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with
banks, other short-term liquid investments with original maturities of three months or less, and bank
overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 34 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 200,000
AMORTISATION
At 1 January 2024 160,000
Charge for year 40,000
At 31 December 2024 200,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 40,000

PENNY & SINCLAIR LIMITED (REGISTERED NUMBER: 06855863)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 117,884
Additions 10,220
At 31 December 2024 128,104
DEPRECIATION
At 1 January 2024 116,039
Charge for year 1,690
At 31 December 2024 117,729
NET BOOK VALUE
At 31 December 2024 10,375
At 31 December 2023 1,845

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2024
and 31 December 2024 4,285
NET BOOK VALUE
At 31 December 2024 4,285
At 31 December 2023 4,285

7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 17,076 9,627
Other debtors 42,314 14,624
59,390 24,251

Amounts falling due after more than one year:
Amounts owed by group undertakings 602,889 660,272

Aggregate amounts 662,279 684,523

PENNY & SINCLAIR LIMITED (REGISTERED NUMBER: 06855863)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 115,290 173,905
Trade creditors 32,340 22,072
Taxation and social security 207,317 150,451
Other creditors 265,558 186,760
620,505 533,188

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 55,091 170,464

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 74,748 84,565
Between one and five years 226,600 267,500
In more than five years 65,000 85,000
366,348 437,065

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
120 Ordinary A 1 120 120
50 Ordinary B 1 50 50
30 Ordinary C 1 30 30
200 200

12. RELATED PARTY DISCLOSURES

At the year end, £132,451 (2023: £157,451) due from Penny & Sinclair Henley Limited, a subsidiary company. No interest has been charged on this amount and there is no fixed date for repayment, other than it is repayable on demand.

The company has taken advantage of the exemption provided by FRS 102 Section 33.1A, not to disclose
transactions and outstanding balances with its 100% directly or indirectly controlled subsidiaries and parent
company.