Company Registration No. 06781037 (England and Wales)
PENNY BLACK UK LTD
Unaudited accounts
for the year ended 31 December 2024
PENNY BLACK UK LTD
Unaudited accounts
Contents
PENNY BLACK UK LTD
Company Information
for the year ended 31 December 2024
Director
Christopher Proctor
Company Number
06781037 (England and Wales)
Registered Office
Audrey House
16-20 Ely Place
London
EC1N 6SN
England
Accountants
EPIC Administration Limited
Audrey House
16-20 Ely Place
London
EC1N 6SN
PENNY BLACK UK LTD
Statement of financial position
as at 31 December 2024
Cash at bank and in hand
704,469
530,694
Creditors: amounts falling due within one year
377,255
(252,636)
Net current assets
1,610,540
667,262
Net assets
1,610,540
667,262
Called up share capital
100
100
Profit and loss account
1,610,440
667,162
Shareholders' funds
1,610,540
667,262
For the year ending 31 December 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 23 September 2025 and were signed on its behalf by
Christopher Proctor
Director
Company Registration No. 06781037
PENNY BLACK UK LTD
Notes to the Accounts
for the year ended 31 December 2024
PENNY BLACK UK LTD is a private company, limited by shares, registered in England and Wales, registration number 06781037. The registered office is Audrey House, 16-20 Ely Place, London, EC1N 6SN, England.
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 financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The accounts are prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.
PENNY BLACK UK LTD
Notes to the Accounts
for the year ended 31 December 2024
Tax is recognized in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognized as other comprehensive income or to an item recognized directly in equity is also recognized in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Amounts falling due within one year
Trade debtors
74,190
1,002
Accrued income and prepayments
1,648
1,702
Other debtors
452,978
386,500
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
635
64,211
Taxes and social security
258,954
-
Other creditors
33,724
183,723
Loans from directors
(670,402)
12,365
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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Average number of employees
During the year the average number of employees was 0 (2023: 0).