Silverfin false false 30/11/2024 01/12/2023 30/11/2024 Mrs K Bailey 08/03/2017 Mr P Bailey 08/03/2017 29 August 2025 The principal activity of the company during the financial year was letting of residential properties. 10659734 2024-11-30 10659734 bus:Director1 2024-11-30 10659734 bus:Director2 2024-11-30 10659734 2023-11-30 10659734 core:CurrentFinancialInstruments 2024-11-30 10659734 core:CurrentFinancialInstruments 2023-11-30 10659734 core:Non-currentFinancialInstruments 2024-11-30 10659734 core:Non-currentFinancialInstruments 2023-11-30 10659734 core:ShareCapital 2024-11-30 10659734 core:ShareCapital 2023-11-30 10659734 core:SharePremium 2024-11-30 10659734 core:SharePremium 2023-11-30 10659734 core:RetainedEarningsAccumulatedLosses 2024-11-30 10659734 core:RetainedEarningsAccumulatedLosses 2023-11-30 10659734 core:MoreThanFiveYears 2024-11-30 10659734 core:MoreThanFiveYears 2023-11-30 10659734 bus:OrdinaryShareClass1 2024-11-30 10659734 2023-12-01 2024-11-30 10659734 bus:FilletedAccounts 2023-12-01 2024-11-30 10659734 bus:SmallEntities 2023-12-01 2024-11-30 10659734 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 10659734 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 10659734 bus:Director1 2023-12-01 2024-11-30 10659734 bus:Director2 2023-12-01 2024-11-30 10659734 2022-12-01 2023-11-30 10659734 core:Non-currentFinancialInstruments 2023-12-01 2024-11-30 10659734 core:MoreThanFiveYears 2023-12-01 2024-11-30 10659734 bus:OrdinaryShareClass1 2023-12-01 2024-11-30 10659734 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10659734 (England and Wales)

PENLEE POINT PROPERTIES LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2024
Pages for filing with the registrar

PENLEE POINT PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2024

Contents

PENLEE POINT PROPERTIES LIMITED

BALANCE SHEET

As at 30 November 2024
PENLEE POINT PROPERTIES LIMITED

BALANCE SHEET (continued)

As at 30 November 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 887,755 887,755
887,755 887,755
Current assets
Debtors 4 8,752 9,612
Cash at bank and in hand 282 2,754
9,034 12,366
Creditors: amounts falling due within one year 5 ( 456,206) ( 439,100)
Net current liabilities (447,172) (426,734)
Total assets less current liabilities 440,583 461,021
Creditors: amounts falling due after more than one year 6 ( 460,277) ( 465,977)
Net liabilities ( 19,694) ( 4,956)
Capital and reserves
Called-up share capital 7 100 100
Share premium account 5,500 5,500
Profit and loss account ( 25,294 ) ( 10,556 )
Total shareholder's deficit ( 19,694) ( 4,956)

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

Directors' responsibilities:

The financial statements of Penlee Point Properties Limited (registered number: 10659734) were approved and authorised for issue by the Board of Directors on 29 August 2025. They were signed on its behalf by:

Mr P Bailey
Director
PENLEE POINT PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
PENLEE POINT PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Penlee Point Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office and principal place of business is Broadwalk House Clockwise - C2:08, Southernhay West, Exeter, EX1 1TS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises rental income receivable which is recognised in the rental period.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

No depreciation is provided on the investment property which is a departure from the requirements of the Companies Act 2006. In the opinion of the directors the property is held primarily for its investment potential and so its current value is of more significance than any measure of consumption and to depreciate it would not give a true and fair view. If this departure from the Act had not been made, the profit for the year would have been reduced by depreciation.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Investment property

Investment property
£
Valuation
As at 01 December 2023 887,755
As at 30 November 2024 887,755

The investment properties were valued on 30 November 2024 by the director who is internal to the company. The basis of this valuation was open market value.

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

There has been no deemed change from the original cost of the properties.

4. Debtors

2024 2023
£ £
Amounts owed by directors 1,106 3,106
Prepayments 5,306 6,506
Other debtors 2,340 0
8,752 9,612

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 5,700 5,700
Trade creditors 114 0
Amounts owed to Group undertakings 445,892 428,900
Accruals 4,500 4,500
456,206 439,100

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 3,325 9,025
Other loans (secured) 456,952 456,952
460,277 465,977

Other loans are secured over the assets to which they relate.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Other loans (secured) 456,952 456,952

Other loans are secured over the assets to which they relate.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary Shares shares of £ 1.00 each 100 100

8. Related party transactions

Other related party transactions

2024 2023
£ £
Amounts owed to Group undertakings 445,892 428,900

During the current year, a loan existed between Gunwharf Holdings Limited and Penlee Point Properties Limited. The balance is repayable on demand and no interest was charged during the year. At the balance sheet date, the amount due to Gunwharf Holdings Limited was £445,892 (2023: £428,900).