Penguin Wealth Planners Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 11236048

		2024		2023 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		121,944		57,502

			121,944		57,502
CURRENT ASSETS
Debtors	5	619,791		256,305
Investments	6	-		150,000
Cash at bank and in hand		294,997		233,625

		914,788		639,930
Creditors: Amounts Falling Due Within One Year	7	(221,115 )		(199,757 )

NET CURRENT ASSETS (LIABILITIES)			693,673		440,173

TOTAL ASSETS LESS CURRENT LIABILITIES			815,617		497,675

Creditors: Amounts Falling Due After More Than One Year	8		(19,657 )		(57,741 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(30,486 )		(14,375 )

NET ASSETS			765,474		425,559

CAPITAL AND RESERVES
Called up share capital	9		100		109
Profit and Loss Account			765,374		425,450

SHAREHOLDERS' FUNDS			765,474		425,559

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Penguin Wealth Planners Limited

Balance Sheet (continued)

As At 31 December 2024

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 member has 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Craig Palfrey

Director

30/09/2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Penguin Wealth Planners Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11236048 . The registered office is Suite 2D, Building 1 Eastern Business Park, Cardiff, CF3 5EA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	25% Reducing Balance Basis
Computer Equipment	33% Straight Line Basis

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Penguin Wealth Planners Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.5. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.6. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was:

	2024	2023
Office and administration	14	14

	14	14

4. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2024	92,769	34,334	127,103
Additions	73,644	11,791	85,435

As at 31 December 2024	166,413	46,125	212,538

Depreciation
As at 1 January 2024	44,658	24,943	69,601
Provided during the period	13,250	7,743	20,993

As at 31 December 2024	57,908	32,686	90,594

Net Book Value
As at 31 December 2024	108,505	13,439	121,944

As at 1 January 2024	48,111	9,391	57,502

5. Debtors

	2024	2023 as restated
	£	£
Due within one year
Trade debtors	2,691	3,385
Prepayments and accrued income	64,681	48,436
Other debtors	552,419	204,484

	619,791	256,305

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Penguin Wealth Planners Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Current Asset Investments

	2024	2023 as restated
	£	£
Unlisted investments	-	150,000

7. Creditors: Amounts Falling Due Within One Year

	2024	2023 as restated
	£	£
Trade creditors	43,514	53,682
Bank loans and overdrafts	44,254	44,254
Corporation tax	101,602	77,411
Other taxes and social security	4,508	4,506
Penguin Wealth LLP Creditor	15,004	15,004
Pensions Creditor	7,774	4,379
Accrued expenses	4,450	521
Director's loan account	9	-

	221,115	199,757

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023 as restated
	£	£
Bank loans	19,657	57,741

9. Share Capital

	2024	2023 as restated
	£	£
Allotted, Called up and fully paid	100	109

10. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023 as restated
	£	£
Not later than one year	12,201	4,231

	12,201	4,231

11. Dividends

	2024	2023 as restated
	£	£
On equity shares:
Interim dividend paid	12,264	40,978

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Penguin Wealth Planners Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

12. Related Party Transactions

During the year, dividends of £12,264 were paid (2023: £40,978).

At the reporting date, the loan made by the company to Penguin Legal Services Limited had a balance of £204,484 (2023: £204,484), a company under common control.

At the reporting date, the balance owed to the diretors by the company totalled £9 (2023: £nil).

13. Ultimate Controlling Party

The company's ultimate controlling party is Mr C Palfrey by virtue of his 65% ownership of the issued share capital in the company.

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