PENGUIN LEISURE LIMITED


Director	WHITE, Chloe Jade Audrey


Registered Address	Whiteleaf Business Centre
	11 Little Balmer
	Buckingham
	MK18 1TF


Registered Number	02904518 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Intangible assets	3		2,249		3,227
Tangible assets	4		25,519		38,695
			27,768		41,922
Current assets
Stocks	5	10,000		5,000
Debtors		303,456		234,319
Cash at bank and on hand		248,237		333,087
		561,693		572,406
Prepayments and accrued income		5,810		5,154
Creditors amounts falling due within one year	6	(169,802)		(192,887)
Net current assets (liabilities)			397,701		384,673
Total assets less current liabilities			425,469		426,595
Creditors amounts falling due after one year	7		-		(1,927)
Provisions for liabilities	9		(1,946)		(2,588)
Net assets			423,523		422,080
Capital and reserves
Called up share capital			100		100
Profit and loss account			423,423		421,980
Shareholders' funds			423,523		422,080

The company was entitled to exemption from audit for this reporting period 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 15 September 2025, and are signed on its behalf by:

WHITE, Chloe Jade Audrey
Director
Registered Company No. 02904518

PENGUIN LEISURE LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible Assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity. Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis: Software - 20% Straight Line Patents - 10% Straight Line

Intangible assets

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible Assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Software - 20% Straight Line
Patents   - 10% Straight Line

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Plant and machinery	4
	Vehicles	4
	Office Equipment	3

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2024		2023
	Average number of employees during the year	5		5

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 January 24	5,127	5,127
At 31 December 24	5,127	5,127
Amortisation and impairment
At 01 January 24	1,900	1,900
Charge for year	978	978
At 31 December 24	2,878	2,878
Net book value
At 31 December 24	2,249	2,249
At 31 December 23	3,227	3,227

4.	Tangible fixed assets

	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 January 24	567	52,815	15,814	69,196
Additions	3,745	-	915	4,660
At 31 December 24	4,312	52,815	16,729	73,856
Depreciation and impairment
At 01 January 24	154	23,472	6,875	30,501
Charge for year	298	13,204	4,334	17,836
At 31 December 24	452	36,676	11,209	48,337
Net book value
At 31 December 24	3,860	16,139	5,520	25,519
At 31 December 23	413	29,343	8,939	38,695

5.	Stocks

	2024	2023
	£	£
Raw materials and consumables	10,000	5,000
Total	10,000	5,000

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	17,812	14,971
Taxation and social security	30,370	35,362
Finance lease and HP contracts	1,927	7,707
Other creditors	7,004	16,790
Accrued liabilities and deferred income	112,689	118,057
Total	169,802	192,887


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

7.	Creditors: amounts due after one year

	2024	2023
	£	£
Other creditors	-	1,927
Total	-	1,927

8.	Obligations under finance leases

		2024		2023
		£		£
	Finance lease and HP contracts	-		1,927

9.	Provisions for liabilities

	2024	2023
	£	£
Net deferred tax liability (asset)	1,946	2,588
Total	1,946	2,588