Registration number: NI066831

Penney's Kitchens & Bathrooms Ltd

(Registration number: NI066831)
Abridged Statement of Financial Position as at 31 December 2025

	Note	2025 £	2024 £
Non current Assets
Property Plant and Equipment	4	28,360	33,860
Current assets
Inventories		86,244	89,877
Debtors		175,452	40,462
Cash at bank and in hand		418,732	573,999
		680,428	704,338
Prepayments and accrued income		85,133	80,132
Creditors: Amounts falling due within one year		(390,749)	(407,412)
Net current assets		374,812	377,058
Total assets less current liabilities		403,172	410,918
Creditors: Amounts falling due after more than one year		(5,283)	(15,675)
Accruals and deferred income		(13,180)	(8,355)
Net assets		384,709	386,888
Equity
Called up share capital		4	4
Profit And Loss Account		384,705	386,884
Shareholders' funds		384,709	386,888

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

Director's 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; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Statement of Financial Position in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Penney's Kitchens & Bathrooms Ltd

(Registration number: NI066831)
Abridged Statement of Financial Position as at 31 December 2025

Approved and authorised by the director on 26 May 2026
 

......................................... Mr Darren Taylor Director

Penney's Kitchens & Bathrooms Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
Unit 2 Stylux
Old Glenarm Road
Larne
Antrim
BT40 1NQ
Northern Ireland

These financial statements were authorised for issue by the director on 26 May 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Penney's Kitchens & Bathrooms Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2025

Property Plant and Equipment

Property Plant and Equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of property plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% RB
Fixtures & fittings	15% RB
Computer equipment	20% SL
Motor vehicles	20% RB

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Receivables

Receivables are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Receivables are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of receivables is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, inventories are assessed for impairment. If inventories are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Payables

Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Penney's Kitchens & Bathrooms Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2024 - 8).

4	Property Plant and Equipment

	Furniture, fittings and equipment  £	Motor vehicles  £	Other property plant and equipment £	Total £
Cost or valuation
At 1 January 2025	28,901	50,976	2,922	82,799
Additions	1,796	-	-	1,796
At 31 December 2025	30,697	50,976	2,922	84,595
Depreciation
At 1 January 2025	25,114	21,891	1,934	48,939
Charge for the year	1,282	5,817	197	7,296
At 31 December 2025	26,396	27,708	2,131	56,235
Carrying amount
At 31 December 2025	4,301	23,268	791	28,360
At 31 December 2024	3,787	29,085	988	33,860