REGISTERED NUMBER: 11884772 (England and Wales)

PENNEY AND SON LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

W J L Penney

Mrs J R Penney

REGISTERED OFFICE:

45 High Street

Haverfordwest

Pembrokeshire

SA61 2BP

REGISTERED NUMBER:

11884772 (England and Wales)

ACCOUNTANTS:

Bevan Buckland LLP

Chartered Accountants

45 High Street

Haverfordwest

Pembrokeshire

SA61 2BP

FIXED ASSETS

Tangible assets

4

79,867

85,888

CURRENT ASSETS

Debtors

5

1,327

10,248

Cash at bank

1,000

606

2,327

10,854

CREDITORS

Amounts falling due within one year

6

112,557

107,179

NET CURRENT LIABILITIES

(110,230

)

(96,325

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(30,363

)

(10,437

)

CREDITORS

Amounts falling due after more than one year

7

41,293

43,976

NET LIABILITIES

(71,656

)

(54,413

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(71,756

)

(54,513

)

SHAREHOLDERS' FUNDS

(71,656

)

(54,413

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 15 December 2025 and were signed on its behalf by:

W J L Penney - Director

Mrs J R Penney - Director

1.	STATUTORY INFORMATION

Penney And Son Ltd 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.

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

-

15% reducing balance

Tractor & Motor vehicles

-

25% reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Tractor &

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2024

43,065

93,405

136,470

Additions

15,400

-

15,400

At 31 March 2025

58,465

93,405

151,870

DEPRECIATION

At 1 April 2024

19,468

31,114

50,582

Charge for year

5,848

15,573

21,421

At 31 March 2025

25,316

46,687

72,003

NET BOOK VALUE

At 31 March 2025

33,149

46,718

79,867

At 31 March 2024

23,597

62,291

85,888

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,327

484

VAT

-

9,764

1,327

10,248

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

1,044

-

Hire purchase contracts

16,838

65,324

Trade creditors

2,766

898

VAT

1,904

-

Other creditors

4,685

1,682

Directors' loan accounts

85,320

39,275

112,557

107,179

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

41,293

43,976

8.	RELATED PARTY DISCLOSURES

During the year the directors made funds available to the company to assist with the provision of working capital. The loan was interest free, unsecured and repayable on demand. The amount outstanding at the balance sheet date was £85,320 (2022 - £39,276).