Penstar Developments Limited

Penstar Developments Limited
Directors' Report
For the year ended 31 March 2025

Director's report and financial statements

The directors present his/her/their annual report and the financial statements for the year ended 31 March 2025

Principal activities

The companys principal activity during the year was other letting and operating of own or leased real estate.

Directors

The directors who served the company throughout the year were as follows:

Andrew Ferguson

Clare Ferguson

Statement of directors' responsibilities

The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to

select suitable accounting policies and then apply them consistently
make judgments and accounting estimates that are reasonable and prudent
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business

The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:

----------------------------------
Andrew Ferguson
Director

Date approved: 22 December 2025

Penstar Developments Limited Accountants' Report For the year ended 31 March 2025
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Penstar Developments Limited for the year ended 31 March 2025. In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Penstar Developments Limited for the year ended 31 March 2025 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Penstar Developments Limited, as a body, in accordance with the terms of our engagement letter dated 10 December 2024. Our work has been undertaken solely to prepare for your approval the accounts of Penstar Developments Limited and state those matters that we have agreed to state to the Board of Directors of Penstar Developments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Penstar Developments Limited and its Board of Directors as a body for our work or for this report. It is your duty to ensure that Penstar Developments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Penstar Developments Limited. You consider that Penstar Developments Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the accounts of Penstar Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts for the period ended 31 March 2025 .................................................... aa Chartered Accountants 6 Blenheim Court Peppercorn Close Peterborough United Kingdom PE1 2DU 22 December 2025 3

Penstar Developments Limited
Accountants' Report
For the year ended 31 March 2025

Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Penstar Developments Limited for the year ended 31 March 2025.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Penstar Developments Limited for the year ended 31 March 2025 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at

www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Penstar Developments Limited, as a body, in accordance with the terms of our engagement letter dated 10 December 2024. Our work has been undertaken solely to prepare for your approval the accounts of Penstar Developments Limited and state those matters that we have agreed to state to the Board of Directors of Penstar Developments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Penstar Developments Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Penstar Developments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Penstar Developments Limited. You consider that Penstar Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Penstar

Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts for the period ended

31 March 2025

....................................................
aa Chartered Accountants
6 Blenheim Court
Peppercorn Close
Peterborough
United Kingdom
PE1 2DU
22 December 2025

Penstar Developments Limited
Statement of Financial Position
As at 31 March 2025

	Notes	2025 £	2024 £
Fixed assets
Tangible fixed assets	3	3,239,924	3,239,112
Investments	4	105	105
		3,240,029	3,239,217
Current assets
Debtors	5	26,835	18,733
Cash at bank and in hand		4,723	2,135
		31,558	20,868
Creditors: amount falling due within one year	6	(428,953)	(483,027)
Net current assets		(397,395)	(462,159)

Total assets less current liabilities		2,842,634	2,777,058
Creditors: amount falling due after more than one year	7	(2,214,531)	(2,157,152)
Accruals and deferred income		(788)	0
Provisions for liabilities	8	(11,400)	(11,400)
Net assets		615,915	608,506

Capital and reserves
Called up share capital	9	100	100
Revaluation Reserves	10	786,297	786,297
Profit and loss account		(170,482)	(177,891)
Shareholders' funds		615,915	608,506

For the year ended 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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These 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 income statement has not been delivered to the Registrar of Companies.

The financial statements were approved by the board of directors on 22 December 2025 and were signed on its behalf by:

-------------------------------
Andrew Ferguson
Director

Penstar Developments Limited
Notes to the Financial Statements
For the year ended 31 March 2025

General Information

Penstar Developments Limited is a private company, limited by shares, registered in England and Wales, registration number 10614627, registration address Heath House, 3 Church Street, Carlby, Stamford, PE9 4NB.

Accounting policies

Significant accounting policies

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation

and any provision for impairment. Depreciation is provided at rates calculated to write off the

cost or valuation of fixed assets, less their estimated residual value, over their expected useful

lives on the following basis:

Computer Equipment

20% Reducing Balance

Investment properties

Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Fixed asset investments

Fixed asset investments are stated at cost less provision for any permanent diminution in value.

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

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.

2.	Average number of employees Average number of employees during the year was 2 (2024 : 2).

Tangible fixed assets

Cost or valuation	Computer Equipment	Investment properties	Total
	£	£	£
At 01 April 2024	1,753	3,238,193	3,239,946
Additions	1,243	-	1,243
Disposals	-	-	-
At 31 March 2025	2,996	3,238,193	3,241,189
Depreciation
At 01 April 2024	833	-	833
Charge for year	432	-	432
On disposals	-	-	-
At 31 March 2025	1,265	-	1,265
Net book values
Closing balance as at 31 March 2025	1,731	3,238,193	3,239,924
Opening balance as at 01 April 2024	919	3,238,193	3,239,112

Investments

Cost	Other investments other than loans	Total
	£	£
At 01 April 2024	105	105
Additions	-	-
Disposals	-	-
At 31 March 2025	105	105

Debtors: amounts falling due within one year

	2025 £	2024 £
Trade Debtors	1,254	0
Amount Owed by Participating Interests	21,131	17,741
Prepayments & Accrued Income	1,615	0
Other Debtors	2,000	0
PAYE & Social Security	835	992
	26,835	18,733

Creditors: amount falling due within one year

	2025 £	2024 £
Bank Loans & Overdrafts	5,929	5,735
Amounts Owed to Participating Interests	67,794	26,857
Corporation Tax	1,437	0
Accrued Expenses	75,583	65,347
Other Creditors	9,459	26,248
Other Loans	83,500	90,000
Directors' Current Accounts	185,251	268,840
	428,953	483,027

Creditors: amount falling due after more than one year

	2025 £	2024 £
Bank Loans & Overdrafts (secured)	2,190,163	2,126,826
Bank Loans & Overdrafts	24,368	30,326
	2,214,531	2,157,152

Provisions for liabilities

	2025 £		2024 £
Deferred Tax	11,400		11,400
	11,400		11,400

Share Capital

Allotted, called up and fully paid	2025 £		2024 £
100 Class A shares of £1.00 each	100		100
	100		100

10.

Revaluation Reserves

	2025 £	2024 £
Revaluation Reserve b/fwd	786,297	0
Revaluation of Fixed Assets	0	797,697
Deferred Tax Provided on Revaluation	0	(11,400)
	786,297	786,297

11.	Bank laons and overdrafts (Secured) Bank Loans of £2,190,162 (2024 - £2,126,826 ) are secured against the assets in which they relate. The following loan facilities hold first charge Aldermore Plc, Keystone Property Finance, CHL Mortgages, The Mortgage Lender, Paragon and Whitehall Trustees Ltd.

12.	Director loan As at the balance sheet date the company owed the directors £185,251 (2024: £268,840). This loan is interest free and repayable on demand.

13.

Related Parties

Penstar Locations Limited (Company number 11231261; Registered office: Heath House, 3 Church Street, Carlby, Stamford, United Kingdom, PE9 4NB): £11,890 (2024: £13,186) owed by the Company.

Newton-Penstar Limited (Company number 14790563; Registered office: 3 Church Street, Carlby, Stamford, England, PE9 4NB): £55,904 (2024: £13,671) owed by the Company.

Almonds-Penstar Limited (Company number 11976008; Registered office: 3 Church Street, Carlby, Stamford, England, PE9 4NB): £19,191 (2024: £17,741) owed to the Company.

Almond-Penstar (Yaxley) Limited (Company number 13787684; Registered office: 3 Church Street, Carlby, Stamford, England, PE9 4NB): £1,940 owed to the Company.

14.	Investment in subsidary The company owns 55 ordinary share of £1 in Newton Penstar Limited. This equates to 100% of the total shares issued in the company. The company owns 50 ordinary share of £1 in Almond Penstar Limited. This equates to 100% of the total shares issued in the company.

Registered Number: 10614627
England and Wales
PENSTAR DEVELOPMENTS LIMITED

Unaudited Financial Statements

Period of accounts Start date: 01 April 2024 End date: 31 March 2025