Company Registration No. 10538414 (England and Wales)
Penguin Property Holdings Ltd
Unaudited accounts
for the year ended 31 December 2024
Penguin Property Holdings Ltd
Unaudited accounts
Contents
Penguin Property Holdings Ltd
Company Information
for the year ended 31 December 2024
Directors
Carnegie Smyth
Scott Smyth
Company Number
10538414 (England and Wales)
Registered Office
One
Connaught Place
London
W2 2ET
United Kingdom
Accountants
Golding & Co Accounting Services Limited
29 Blackwood Close
West Byfleet
Surrey
KT14 6PP
Penguin Property Holdings Ltd
Statement of financial position
as at 31 December 2024
Investment property
480,000
480,000
Cash at bank and in hand
6,128
13,102
Creditors: amounts falling due within one year
(957)
(6,397)
Net current assets
6,171
8,002
Total assets less current liabilities
486,171
488,002
Creditors: amounts falling due after more than one year
(354,185)
(353,196)
Provisions for liabilities
Deferred tax
(15,203)
(15,203)
Net assets
116,783
119,603
Called up share capital
2
2
Profit and loss account
116,683
119,503
Shareholders' funds
116,783
119,603
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 directors acknowledge 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 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 of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by
Carnegie Smyth
Director
Company Registration No. 10538414
Penguin Property Holdings Ltd
Notes to the Accounts
for the year ended 31 December 2024
Penguin Property Holdings Ltd is a private company, limited by shares, registered in England and Wales, registration number 10538414. The registered office is One, Connaught Place, London, W2 2ET, 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.
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 accounts have been prepared under the historical cost convention as modified by the revaluation of investment properties.
The accounts are presented in £ sterling.
Rental income is recognised in the income statement on a straight line basis over the terms of the lease. Proceeds received on sale of trading properties are recognised when the significant risks and rewards of ownership transfer to the buyer.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on using the balance sheet liability method on temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is determined using tax rates that have been enacted or substantively enacted by the reporting date and are expected to apply when the asset is realised or the liability is settled.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 January 2024
480,000
At 31 December 2024
480,000
Fair value has been determined by comparison of the market value of similar properties.
Amounts falling due within one year
Penguin Property Holdings Ltd
Notes to the Accounts
for the year ended 31 December 2024
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
-
5,540
7
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
354,185
353,196
The amounts falling due after one year includes a single loan with an outstanding balance of £253,986 which bears interest at a rate of 3.2% p.a. and has no fixed terms of repayment. All other long term loans are interest free with no fixed terms of repayment.
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).