REGISTERED NUMBER: 01438513 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

PENDRING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P J Hanlon

Mr J F Hanlon

SECRETARY:

Mr P J Hanlon

REGISTERED OFFICE:

Highlands Farm Gravenhurst Road

Campton

Shefford

Bedfordshire

SG17 5NZ

REGISTERED NUMBER:

01438513 (England and Wales)

ACCOUNTANTS:

Foxley Kingham

Chartered Accountants

260 - 270 Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

FIXED ASSETS

Tangible assets

4

1,807,994

1,825,672

Investments

5

273,047

273,047

2,081,041

2,098,719

CURRENT ASSETS

Debtors

6

152,911

116,103

Cash at bank

58,833

128,429

211,744

244,532

CREDITORS

Amounts falling due within one year

7

691,320

341,144

NET CURRENT LIABILITIES

(479,576

)

(96,612

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,601,465

2,002,107

CREDITORS

Amounts falling due after more than one year

8

-

(366,000

)

PROVISIONS FOR LIABILITIES

(263,144

)

(263,940

)

NET ASSETS

1,338,321

1,372,167

CAPITAL AND RESERVES

Called up share capital

87

87

Revaluation reserve

10

1,213,140

1,213,140

Other reserves

13

13

Retained earnings

125,081

158,927

1,338,321

1,372,167

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 22 December 2025 and were signed on its behalf by:

Mr P J Hanlon - Director

1.	STATUTORY INFORMATION

Pendring 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

Transactions and balances

Foreign currency transactions are translated into the the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured ar fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit of loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Borrowing costs

All borrowing costs are recognised in the profit or loss in the year in which they are incurred.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.

Revenue 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.

Long leasehold

-

Over the term of the lease

Fixtures and fittings

-

20% on cost and 10% on cost

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Revaluation of tangible fixed assets

Long leasehold properties are carried at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Statement of financial position date.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

Investments in subsidiaries

Investments in subsidiaries are measured at cost less accumulated impairment.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each

reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

leasehold

fittings

Totals

£

£

£

COST OR VALUATION

At 1 April 2024

1,800,000

61,059

1,861,059

Additions

-

6,577

6,577

At 31 March 2025

1,800,000

67,636

1,867,636

DEPRECIATION

At 1 April 2024

18,000

17,387

35,387

Charge for year

18,000

6,255

24,255

At 31 March 2025

36,000

23,642

59,642

NET BOOK VALUE

At 31 March 2025

1,764,000

43,994

1,807,994

At 31 March 2024

1,782,000

43,672

1,825,672

Cost or valuation at 31 March 2025 is represented by:

Fixtures

Long

and

leasehold

fittings

Totals

£

£

£

Valuation in 2024

1,800,000

-

1,800,000

Cost

-

67,636

67,636

1,800,000

67,636

1,867,636

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

273,047

NET BOOK VALUE

At 31 March 2025

273,047

At 31 March 2024

273,047

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

150,228

106,947

Prepayments

2,683

9,156

152,911

116,103

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

250,000

8,000

Trade creditors

32,453

10,587

Other creditors

406,002

303,757

Accrued expenses

2,865

18,800

691,320

341,144

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 2-5 years

-

366,000

9.	SECURED DEBTS

Bank loans are secured by Fixed charge over certain property assets.

10.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

1,213,140

11.	RELATED PARTY DISCLOSURES

At the year end the company owed £105,654 (2024: £95,137) to JJB Engineering, a partnership controlled by the directors. This balance is within other creditors.

At the year end the company owed £300,347 (2024: 208,621) to John Hanlon & Co Limited, a company controlled by the directors. This balance is within other creditors.

12.	ULTIMATE CONTROLLING PARTY

There is no single controlling party.