Pennant Plant Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 11764429

Pennant Plant Limited

Filleted Unaudited Financial Statements

For the year ended

31 January 2025

Pennant Plant Limited

Statement of Financial Position

31 January 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	4		48,775	57,491

Current assets

Stocks		100	75
Debtors	5	41	–
Investments	6	8,000	8,000
Cash at bank and in hand		95,284	114,089
		---------	---------
		103,425	122,164

Creditors: amounts falling due within one year	7	7,802		14,937
		---------		---------
Net current assets			95,623	107,227
			---------	---------
Total assets less current liabilities			144,398	164,718

Provisions

Taxation including deferred tax	9,267	10,923
	---------	---------
Net assets	135,131	153,795
	---------	---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	135,130	153,794
	---------	---------
Shareholders funds	135,131	153,795
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Pennant Plant Limited

Statement of Financial Position (continued)

31 January 2025

These financial statements were approved by the board of directors and authorised for issue on 29 October 2025 , and are signed on behalf of the board by:

Mr R A Jones
Director

Company registration number: 11764429

Pennant Plant Limited

Notes to the Financial Statements

Year ended 31 January 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 92-94 High Street, Porthmadog, Gwynedd, LL49 9NW.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. 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 all 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. 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. 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	15% reducing balance
Trailers	-	15% reducing balance
Equipment	-	20% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Tangible assets

	Plant and machinery	Trailers	Equipment	Total
	£	£	£	£
Cost
At 1 February 2024 and 31 January 2025	84,934	12,578	4,324	101,836
	--------	--------	-------	---------
Depreciation
At 1 February 2024	36,707	5,169	2,469	44,345
Charge for the year	7,234	1,111	371	8,716
	--------	--------	-------	---------
At 31 January 2025	43,941	6,280	2,840	53,061
	--------	--------	-------	---------
Carrying amount
At 31 January 2025	40,993	6,298	1,484	48,775
	--------	--------	-------	---------
At 31 January 2024	48,227	7,409	1,855	57,491
	--------	--------	-------	---------

5. Debtors

	2025	2024
	£	£
Other debtors	41	–
	----	----

6. Investments

	2025	2024
	£	£
Other investments	8,000	8,000
	-------	-------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	2,496	3,211
Corporation tax	–	3,236
Social security and other taxes	4,980	3,599
Other creditors	326	4,891
	-------	--------
	7,802	14,937
	-------	--------

8. Director's advances, credits and guarantees

There were no director's advances, credits or guarantees during the year.