Penistone Line Partnership Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04206104

PENISTONE LINE PARTNERSHIP

Company Limited by Guarantee

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

PENISTONE LINE PARTNERSHIP

COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Tangible assets	6		665		887

CURRENT ASSETS

Debtors	7	5,250	3,462
Cash at bank and in hand		52,500	44,333
		---------	---------
		57,750	47,795

CREDITORS: amounts falling due within one year	8	21,369		13,450
		---------		---------
NET CURRENT ASSETS			36,381		34,345
			---------		---------
TOTAL ASSETS LESS CURRENT LIABILITIES			37,046		35,232

PROVISIONS

Taxation including deferred tax	–	168
	---------	---------
NET ASSETS	37,046	35,064
	---------	---------

PENISTONE LINE PARTNERSHIP

COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

	2025		2024
Note	£	£	£	£

CAPITAL AND RESERVES

Profit and loss account	37,046	35,064
	---------	---------
MEMBERS FUNDS	37,046	35,064
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 28 December 2025 , and are signed on behalf of the board by:

Mr N A Bentley

Director

Company registration number: 04206104

PENISTONE LINE PARTNERSHIP

COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. GENERAL INFORMATION

The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Unit 4, Rear 11 Church Street, Penistone, South Yorkshire, S36 6AR.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.

Current and deferred tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Computer equipment	-	25% reducing balance

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee. The liability of each member shall not exceed £1.

5. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).

The directors are unpaid, the work they carry out is on a voluntary basis.

6. TANGIBLE ASSETS

	Equipment	Total
	£	£
Cost
At 1 April 2024 and 31 March 2025	2,225	2,225
	-------	-------
Depreciation
At 1 April 2024	1,338	1,338
Charge for the year	222	222
	-------	-------
At 31 March 2025	1,560	1,560
	-------	-------
Carrying amount
At 31 March 2025	665	665
	-------	-------
At 31 March 2024	887	887
	-------	-------

7. DEBTORS

	2025	2024
	£	£
Trade debtors	4,090	–
Other debtors	1,160	3,462
	-------	-------
	5,250	3,462
	-------	-------

8. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	3,899	–
Pension creditor	–	193
Grants received in advance	16,450	12,367
Other creditors	1,020	890
	---------	---------
	21,369	13,450
	---------	---------

Grants carried forward

	2025	2024
	£	£
TPE CEP	1,719	1,719
Sheffield station	–	51
Story book and podcasts	3,134	–
Penistone shelter improvement	–	9,760
XC Trains 200 Exhibition	500	–
Shepley Station improvements	837	837
Core funding	9,760	–
EMR Rail 200 exhibition	500	–
	---------	---------
	16,450	12,367
	---------	---------