REGISTERED NUMBER: 07933724 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2025

for

Penelope Payroll Limited

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Directors:

Mrs S J Ullyott

Mrs S M Falkingham

Registered office:

6 George Street

Driffield

East Yorkshire

YO25 6RA

Registered number:

07933724 (England and Wales)

Accountants:

Ullyott Limited

6 George Street

Driffield

East Yorkshire

YO25 6RA

CURRENT ASSETS

Debtors

6

26,516

19,361

Cash at bank

55,863

43,784

82,379

63,145

CREDITORS

Amounts falling due within one year

7

36,484

27,487

NET CURRENT ASSETS

45,895

35,658

TOTAL ASSETS LESS CURRENT LIABILITIES

45,895

35,658

CAPITAL AND RESERVES

Called up share capital

8

110

110

Retained earnings

45,785

35,548

SHAREHOLDERS' FUNDS

45,895

35,658

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 October 2025 and were signed on its behalf by:

Mrs S J Ullyott - Director

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

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

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 March 2024

and 28 February 2025

1,413

AMORTISATION

At 1 March 2024

and 28 February 2025

1,413

NET BOOK VALUE

At 28 February 2025

-

At 29 February 2024

-

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 March 2024

and 28 February 2025

4,285

DEPRECIATION

At 1 March 2024

and 28 February 2025

4,285

NET BOOK VALUE

At 28 February 2025

-

At 29 February 2024

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

26,516

19,361

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Corporation tax

17,631

12,375

Social security and other taxes

172

58

VAT

8,311

6,224

Other creditors

312

312

Directors' current accounts

624

624

Accruals and deferred income

9,434

7,894

36,484

27,487

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

75

Ordinary

£1

75

75

25

A Ordinary

£1

25

25

10

B Ordinary

£1

10

10

110

110