REGISTERED NUMBER: 06855863 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

PENNY & SINCLAIR LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

O P Hope

J C Penny

REGISTERED OFFICE:

Unit 2 Mayfield House

Banbury Road

Oxford

OX2 7DE

REGISTERED NUMBER:

06855863 (England and Wales)

ACCOUNTANTS:

Jamesons Limited

Jamesons House

Compton Way

Witney

OX28 3AB

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

14,385

10,375

Investments

6

4,285

4,285

18,670

14,660

CURRENT ASSETS

Debtors

7

669,399

662,279

Cash at bank and in hand

247,352

204,108

916,751

866,387

CREDITORS

Amounts falling due within one year

8

629,342

620,505

NET CURRENT ASSETS

287,409

245,882

TOTAL ASSETS LESS CURRENT LIABILITIES

306,079

260,542

CREDITORS

Amounts falling due after more than one year

9

-

(55,091

)

PROVISIONS FOR LIABILITIES

(3,596

)

(2,594

)

NET ASSETS

302,483

202,857

CAPITAL AND RESERVES

Called up share capital

11

200

200

Retained earnings

302,283

202,657

SHAREHOLDERS' FUNDS

302,483

202,857

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 5 May 2026 and were signed on its behalf by:

J C Penny - Director

O P Hope - Director

1.	STATUTORY INFORMATION

Penny & Sinclair 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

The goodwill arising on the acquisition of unincorporated businesses over the fair value of

net assets acquired was initially recognised as an asset at cost and was being amortised over a period of 5 years in accordance with the company’s accounting policy.

The goodwill is now fully amortised. Accordingly, there is no carrying amount recognised at the balance sheet date.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at

transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the

assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference

shares that are classified as debt, are initially recognised at transaction price unless the arrangement

constitutes a financing transaction, where the debt instrument is measured at the present value of the future

payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are

not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year

or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at

transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with

banks, other short-term liquid investments with original maturities of three months or less, and bank

overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2024 - 33 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2025

and 31 December 2025

200,000

AMORTISATION

At 1 January 2025

and 31 December 2025

200,000

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

128,104

Additions

8,695

At 31 December 2025

136,799

DEPRECIATION

At 1 January 2025

117,729

Charge for year

4,685

At 31 December 2025

122,414

NET BOOK VALUE

At 31 December 2025

14,385

At 31 December 2024

10,375

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2025

and 31 December 2025

4,285

NET BOOK VALUE

At 31 December 2025

4,285

At 31 December 2024

4,285

7.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

32,041

17,076

Other debtors

49,469

42,314

81,510

59,390

Amounts falling due after more than one year:

Amounts owed by group undertakings

587,889

602,889

Aggregate amounts

669,399

662,279

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

55,018

115,290

Trade creditors

45,118

32,340

Taxation and social security

330,143

207,317

Other creditors

199,063

265,558

629,342

620,505

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

55,091

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

74,748

74,748

Between one and five years

171,852

226,600

In more than five years

45,000

65,000

291,600

366,348

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

120

Ordinary A

1

120

120

50

Ordinary B

1

50

50

30

Ordinary C

1

30

30

200

200

12.	RELATED PARTY DISCLOSURES

At the year end, £117,451 (2024: £132,451) due from Penny & Sinclair Henley Limited, a subsidiary company. No interest has been charged on this amount and there is no fixed date for repayment, other than it is repayable on demand.

The company has taken advantage of the exemption provided by FRS 102 Section 33.1A, not to disclose transactions and outstanding balances with its 100% directly or indirectly controlled subsidiaries by a parent company.