J V Pengelly Building Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 06323764

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		36,085		22,240

			36,085		22,240
CURRENT ASSETS
Stocks	5	31,000		31,000
Debtors	6	193,413		196,289
Cash at bank and in hand		51,661		47,107

		276,074		274,396
Creditors: Amounts Falling Due Within One Year	7	(515,157 )		(571,177 )

NET CURRENT ASSETS (LIABILITIES)			(239,083 )		(296,781 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(202,998 )		(274,541 )

Creditors: Amounts Falling Due After More Than One Year	8		(14,106 )		(16,278 )

NET LIABILITIES			(217,104 )		(290,819 )

CAPITAL AND RESERVES
Called up share capital	10		100		100
Profit and Loss Account			(217,204 )		(290,919 )

SHAREHOLDERS' FUNDS			(217,104)		(290,819)

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J V Pengelly Building Ltd

Balance Sheet (continued)

As At 31 August 2025

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Jonathan Pengelly

Director

15/12/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

J V Pengelly Building Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06323764 . The registered office is Oak Park, Huxham, Exeter, Devon, EX5 4EL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% Reducing balance method
Motor Vehicles	25% Reducing balance method
Computer Equipment	25% Reducing balance method

2.4. Leasing and Hire Purchase Contracts

Assets obtained under 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 contracts 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 the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 7 (2024: 6)

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J V Pengelly Building Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 September 2024	26,543	74,722	101,265
Additions	823	25,050	25,873

As at 31 August 2025	27,366	99,772	127,138

Depreciation
As at 1 September 2024	21,370	57,655	79,025
Provided during the period	1,499	10,529	12,028

As at 31 August 2025	22,869	68,184	91,053

Net Book Value
As at 31 August 2025	4,497	31,588	36,085

As at 1 September 2024	5,173	17,067	22,240

5. Stocks

	2025	2024
	£	£
Stocks	31,000	31,000

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	193,413	196,289

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	4,033	4,033
Trade creditors	43,749	96,298
Bank loans and overdrafts	11,635	10,648
Other creditors	369,778	371,094
Taxation and social security	85,962	89,104

	515,157	571,177

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	4,369	8,403
Bank loans	9,737	7,875

	14,106	16,278

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J V Pengelly Building Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

9. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	4,033	4,033
Later than one year and not later than five years	4,369	8,403

	8,402	12,436

	8,402	12,436

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

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