Company registration number 03619383 (England and Wales)
PENRITH RETAIL LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
PENRITH RETAIL LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
PENRITH RETAIL LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
4
410,000
525,000
Investments
5
198,908
226,210
608,908
751,210
Current assets
Debtors
6
1,367,766
1,351,475
Cash at bank and in hand
74,981
35,188
1,442,747
1,386,663
Creditors: amounts falling due within one year
7
(978,559)
(955,595)
Net current assets
464,188
431,068
Total assets less current liabilities
1,073,096
1,182,278
Creditors: amounts falling due after more than one year
8
(23,891)
(29,083)
Net assets
1,049,205
1,153,195
Capital and reserves
Called up share capital
9
1,055,003
1,055,003
Profit and loss reserves
(5,798)
98,192
Total equity
1,049,205
1,153,195

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 25 November 2025 and are signed on its behalf by:
A R Heller
Director
Company registration number 03619383 (England and Wales)
PENRITH RETAIL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 April 2023
1,055,003
86,734
1,141,737
Year ended 31 March 2024:
Profit and total comprehensive income
-
11,458
11,458
Balance at 31 March 2024
1,055,003
98,192
1,153,195
Year ended 31 March 2025:
Loss and total comprehensive income
-
(103,990)
(103,990)
Balance at 31 March 2025
1,055,003
(5,798)
1,049,205
PENRITH RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Penrith Retail Limited is a private company, limited by shares and incorporated in England and Wales. The registered office is The Hart Shaw Building, Europa Link, Sheffield Business Park, Sheffield, S9 1XU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover
Turnover represents rents receivable net of VAT.
1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Listed investments are stated at market value.

Other investments are stated at cost.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

PENRITH RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Leases

Rentals payable under operating leases are charged to income on a straight line basis over the term of the relevant lease.

PENRITH RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
3
4
Investment property
2025
£
Fair value
At 1 April 2024
525,000
Revaluations
(115,000)
At 31 March 2025
410,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 23 October 2025 by an independent firm of Chartered Surveyors, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

T he historic cost of investment properties is £1,053,700.

5
Fixed asset investments
2025
2024
£
£
Other investments other than loans
198,908
226,210
PENRITH RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
5
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2024
226,210
Valuation changes
(4,250)
Disposals
(23,052)
At 31 March 2025
198,908
Carrying amount
At 31 March 2025
198,908
At 31 March 2024
226,210
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
28,593
7,302
Other debtors
1,339,173
1,344,173
1,367,766
1,351,475
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
5,197
5,068
Taxation and social security
8,942
8,170
Other creditors
921,315
921,315
Accruals and deferred income
43,105
21,042
978,559
955,595
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
23,891
29,083
Creditors which fall due after five years are as follows:
2025
2024
£
£
Payable by instalments
1,763
7,504
PENRITH RETAIL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
9
Called up share capital
2025
2024
£
£
Ordinary share capital
Allotted, called up and fully paid
1,055,003 Ordinary shares 1 of £1 each
1,055,003
995,000
Ordinary shares of 5p each
-
0
60,000
3 Deferred shares of £1 each
-
0
3
1,055,003
1,055,003
10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Martin McDonagh
Statutory Auditor:
Hart Shaw LLP
Date of audit report:
5 December 2025
11
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
2,462,250
2,483,250
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