REGISTERED NUMBER: 03112270 (England and Wales)

The Penpot Quill and Red Ship Trading

Company Limited

Report of the Director and

Unaudited Financial Statements

for the Year Ended 31 January 2025

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

Mr P H Fowler

SECRETARY:

D Crewsdon

REGISTERED OFFICE:

Pennant House

Field Street

Llangefni

Gwynedd

LL77 7EH

REGISTERED NUMBER:

03112270 (England and Wales)

The director presents his report with the financial statements of the company for the year ended 31 January 2025.

DIRECTOR

Mr P H Fowler held office during the whole of the period from 1 February 2024 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr P H Fowler - Director

31 October 2025

TURNOVER

-

-

Administrative expenses

407

(2,608

)

OPERATING PROFIT/(LOSS)

4

407

(2,608

)

Income from fixed asset investments

1,689

2,329

Interest receivable and similar income

12

-

2,108

(279

)

Gain/loss on revaluation of assets

3,219

-

PROFIT/(LOSS) BEFORE TAXATION

5,327

(279

)

Tax on profit/(loss)

5

(1,445

)

(132

)

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

3,882

(411

)

FIXED ASSETS

Intangible assets

6

49

50

Investments

7

39,438

35,180

39,487

35,230

CURRENT ASSETS

Debtors

8

2,483

2,271

Cash at bank

347

114

2,830

2,385

CREDITORS

Amounts falling due within one year

9

2,581

2,493

NET CURRENT ASSETS/(LIABILITIES)

249

(108

)

TOTAL ASSETS LESS CURRENT LIABILITIES

39,736

35,122

CREDITORS

Amounts falling due after more than one year

10

(1,822

)

(1,713

)

PROVISIONS FOR LIABILITIES

(2,782

)

(1,179

)

NET ASSETS

35,132

32,230

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Other reserves

11

4,502

4,502

Retained earnings

11

20,630

17,728

35,132

32,230

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 31 October 2025 and were signed by:

Mr P H Fowler - Director

1.	STATUTORY INFORMATION

The Penpot Quill and Red Ship Trading Company 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.

Formation expenses are being amortised evenly over their estimated useful life of nil years.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - NIL ) .

4.	OPERATING PROFIT/(LOSS)

The operating profit (2024 - operating loss) is stated after charging:

2025

2024

£

£

Formation expenses amortisation

1

1

5.

TAXATION

Provision for liabilities represents deferred taxation provision on the basis that this would be the capital gains tax payable at the lower rate of corporation tax of 20%.

no corporation tax in respect of other income has been provided for in the current year on the basis the liability is under £1.

6.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 February 2024

and 31 January 2025

78

AMORTISATION

At 1 February 2024

28

Charge for year

1

At 31 January 2025

29

NET BOOK VALUE

At 31 January 2025

49

At 31 January 2024

50

7.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 February 2024

35,180

Additions

2,031

Disposals

(992

)

Impairments

3,219

At 31 January 2025

39,438

NET BOOK VALUE

At 31 January 2025

39,438

At 31 January 2024

35,180

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

212

-

Other debtors

2,271

2,271

2,483

2,271

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

2,515

2,735

Other creditors

66

(242

)

2,581

2,493

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

-

201

Director's loan

1,822

1,512

1,822

1,713

11.

RESERVES

Retained

Other

earnings

reserves

Totals

£

£

£

At 1 February 2024

17,728

4,502

22,230

Profit for the year

3,882

3,882

Dividends

(980

)

(980

)

At 31 January 2025

20,630

4,502

25,132

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr P H Fowler.