REGISTERED NUMBER: 07996968 (England and Wales)

Unaudited Financial Statements

for the Period 1 March 2024 to 31 March 2025

for

PENNY PETROLEUM (MANAGEMENT) LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

D S Penny

A L Penny

REGISTERED OFFICE:

Global House

303 Ballards Lane

London

N12 8NP

REGISTERED NUMBER:

07996968 (England and Wales)

ACCOUNTANTS:

K J Pittalis and Partners LLP

Chartered Certified Accountants

Global House

303 Ballards Lane

London

N12 8NP

FIXED ASSETS

Tangible assets

4

733,437

470,083

CURRENT ASSETS

Debtors

5

3,633,379

3,257,968

Cash at bank

243,155

27,617

3,876,534

3,285,585

CREDITORS

Amounts falling due within one year

6

(2,507,097

)

(2,100,035

)

NET CURRENT ASSETS

1,369,437

1,185,550

TOTAL ASSETS LESS CURRENT LIABILITIES

2,102,874

1,655,633

CREDITORS

Amounts falling due after more than one year

7

(479,071

)

(231,593

)

PROVISIONS FOR LIABILITIES

9

(69,665

)

(117,521

)

NET ASSETS

1,554,138

1,306,519

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

1,554,038

1,306,419

SHAREHOLDERS' FUNDS

1,554,138

1,306,519

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

The members have not required the company to obtain an audit of its financial statements for the period 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 December 2025 and were signed on its behalf by:

D S Penny - Director

1.	STATUTORY INFORMATION

Penny Petroleum (Management) 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

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 represents sales of services net of VAT and trade discounts. Turnover is recognised when the services are provided to the customer.

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 - 20% on reducing balance

Fixtures and fittings - 25% on reducing balance

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Deferred grants

Grants received have been released in the Income statement over the period of five years.

Hire purchase and leasing commitments

Assets obtained under hire purchase contacts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contacts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payments is charged to the profit and loss account so as to produce a constant periodic rate charge on the net obligation outstanding in each period.

Rental applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 63 (2024 - 52 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 March 2024

712,709

58,945

771,654

Additions

467,674

-

467,674

At 31 March 2025

1,180,383

58,945

1,239,328

DEPRECIATION

At 1 March 2024

263,676

37,895

301,571

Charge for period

198,619

5,701

204,320

At 31 March 2025

462,295

43,596

505,891

NET BOOK VALUE

At 31 March 2025

718,088

15,349

733,437

At 29 February 2024

449,033

21,050

470,083

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

29/2/24

£

£

Trade debtors

176,755

185,853

Amounts owed by related entities

3,449,517

3,058,199

Other debtors

7,107

13,916

3,633,379

3,257,968

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

29/2/24

£

£

Hire purchase contracts (see note 8)

122,698

54,140

Trade creditors

81,901

136,641

Amounts owed to related entities

1,197,625

1,050,380

Taxation and social security

348,281

466,559

Other creditors

756,592

392,315

2,507,097

2,100,035

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/25

29/2/24

£

£

Hire purchase contracts (see note 8)

439,071

231,593

Other creditors

40,000

-

479,071

231,593

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31/3/25

29/2/24

£

£

Net obligations repayable:

Within one year

122,698

54,140

Between one and five years

439,071

231,593

561,769

285,733

9.	PROVISIONS FOR LIABILITIES

31/3/25

29/2/24

£

£

Deferred tax

Accelerated capital allowances

69,665

117,521

Deferred

tax

£

Balance at 1 March 2024

117,521

Provided during period

(47,856

)

Balance at 31 March 2025

69,665

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/25

29/2/24

value:

£

£

100

Ordinary

1

100

100

11.	RELATED PARTY DISCLOSURES

The company is related to the following entities by virtue of common directors, shareholders and/or

control:

Penny Petroleum (North East) Limited, Penny Petroleum Partnership, Penny Petroleum Partnership 2, Penny Petroleum (Scotland) Limited, Penny Petroleum (Scarborough) Limited, Topspot Services Limited, Penny Petroleum (St. Helens) Limited, Topspot (Marske) Limited, Top & Co Property and Penny Petroleum Hotels Ltd.

During the year the company issued/repaid the following amounts to the following related entities:

Related entity

2025

2024

Topspot Services Limited

£74,344

£94,169

Penny Petroleum (Scotland) Limited

£61,739

£11,448

Penny Petroleum (St. Helens) Limited

£91,045

£Nil

Penny Petroleum (Scarborough) Limited

£Nil

£32,802

Penny Petroleum Partnership

£Nil

£509,513

Penny Petroleum Partnership 2

£259,687

£144,576

Penny Petroleum (North East) Limited

£112,025

£Nil

Topspot (Marske) Limited

£16,145

£21,733

Penny Petroleum Hotels Ltd

£Nil

£2,500

Top & Co Property

£Nil

£183,048

The company also received the following amounts from the following related entities:

Related entity

2025

2024

Penny Petroleum (Scarborough) Limited

£350,000

£Nil

Penny Petroleum Partnership

£20,913

£Nil

Penny Petroleum (St. Helens) Limited

£Nil

£50,000

Included within debtors due within one year are balances due from the following related entities:

Related entity

2025

2024

Topspot Services Limited

£45,353.21

£Nil

Penny Petroleum (St. Helens) Limited

£146,118

£55,073

Penny Petroleum Partnership

£1,960,128

£1,981,040

Penny Petroleum Partnership 2

£1,049,675

£789,988

Topspot (Marske) Limited

£62,695

£46,550

Penny Petroleum Hotels Ltd

£2,500

£2,500

Top & Co Property

£183,048

£183,048

The above loans are unsecured, interest free and repayable on demand.

Included within creditors amount due within one year are the following amounts due to related entities:

Related entity

2025

2024

Topspot Services Limited

£Nil

£28,991

Penny Petroleum (Scotland) Limited

£337,525

£399,265

Penny Petroleum (Scarborough) Limited

£737,786

£387,786

Penny Petroleum (North East) Limited

£122,314

£234,338

The above loans are unsecured, interest free and repayable on demand, other than the interest bearing loan due to Penny Petroleum Partnership.