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Registration number: 09259230

Penfro Retail Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 6

Penfro Retail Limited

Company Information

Directors

Mr R W Davies Mrs A J Davies

Company secretary

Mrs A J Davies

Registered office

32 Meyrick Street Pembroke Dock Pembrokeshire SA72 6UT

Penfro Retail Limited

(Registration number: 09259230)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	4,682	5,853
Current assets
Stocks	6	1,200	1,200
Cash at bank and in hand		4,320	3,750
		5,520	4,950
Creditors: Amounts falling due within one year	7	(63,476)	(63,723)
Net current liabilities		(57,956)	(58,773)
Net liabilities		(53,274)	(52,920)
Capital and reserves
Called up share capital		100	100
Profit and loss account		(53,374)	(53,020)
Total equity		(53,274)	(52,920)

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 3 December 2025 and signed on its behalf by:
 

......................................... Mr R W Davies Director

Penfro Retail Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in Wales.

The address of its registered office is:
32 Meyrick Street
Pembroke Dock
Pembrokeshire
SA72 6UT

The principal place of business is:
32 Meyrick Street
Pembroke Dock
SA72 6UT

These financial statements were authorised for issue by the Board on 3 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Penfro Retail Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% reducing balance basis
Office equipment	20% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Penfro Retail Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2024 - 1).

4	Loss before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	1,171	1,463

5	Tangible assets

	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 April 2024	23,056	3,316	26,372
At 31 March 2025	23,056	3,316	26,372
Depreciation
At 1 April 2024	17,741	2,778	20,519
Charge for the year	1,063	108	1,171
At 31 March 2025	18,804	2,886	21,690
Carrying amount
At 31 March 2025	4,252	430	4,682
At 31 March 2024	5,315	538	5,853

6

Stocks

	2025 £	2024 £
Other inventories	1,200	1,200

Penfro Retail Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Trade creditors		299	753
Amounts owed to group undertakings and undertakings in which the company has a participating interest	9	33,500	33,500
Directors' loan accounts	9	28,981	28,510
Other creditors		696	960
		63,476	63,723

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
A Ordinary Shares of £1 each	51	51	51	51
B Ordinary Shares of £1 each	49	49	49	49
	100	100	100	100

9	Related party transactions

Other transactions with directors

At the balance sheet date, the director Mr R W Davies was owed £28,980 (2024: £28,510) from the company. The loan is interest free and repayable on demand.

Summary of transactions with entities with joint control or significant interest

Penfro Consultancy Limited is considered a related party by virtue of a common director.
At the balance sheet date Penfro Retail Limited owed an amount of £33,500 (2024: £33,500) to Penfro Consultancy Limited.
 

The loans are interest free and repayable on demand.