Company Registration No. 12615710 (England and Wales)
PENALTY 2 LIMITED
Unaudited accounts
for the year ended 31 May 2025
PENALTY 2 LIMITED
Unaudited accounts
Contents
PENALTY 2 LIMITED
Company Information
for the year ended 31 May 2025
Director
Fathima Ilma Najeeb
Company Number
12615710 (England and Wales)
Registered Office
15 Ellenbrook Green
Ipswich
Suffolk
IP2 9RR
United Kingdom
PENALTY 2 LIMITED
Statement of financial position
as at 31 May 2025
Tangible assets
16,651
19,737
Cash at bank and in hand
11,314
9,697
Creditors: amounts falling due within one year
(68,819)
(39,748)
Net current assets/(liabilities)
15,648
(2,696)
Total assets less current liabilities
32,299
17,041
Creditors: amounts falling due after more than one year
(36,975)
(12,088)
Net (liabilities)/assets
(4,676)
4,953
Called up share capital
100
100
Profit and loss account
(4,776)
4,853
Shareholders' funds
(4,676)
4,953
For the year ending 31 May 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 director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 May 2026 and were signed on its behalf by
Fathima Ilma Najeeb
Director
Company Registration No. 12615710
PENALTY 2 LIMITED
Notes to the Accounts
for the year ended 31 May 2025
PENALTY 2 LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12615710. The registered office is 15 Ellenbrook Green, Ipswich, Suffolk, IP2 9RR, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25 % on RBM
Fixtures & fittings
25 % on RBM
At the balance sheet date the company had net liabilities of £4,676 (2024: Net current liabilities £2,696). The director believes that the company, with her continued support has adequate resources to continue to operate. The director considers it appropriate to continue using going concern basis in the preparation of the financial statements. The financial statements do not include any adjustments that would result if support from the director was not continued.
The accounts are presented in £ sterling.
PENALTY 2 LIMITED
Notes to the Accounts
for the year ended 31 May 2025
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 June 2024
6,200
20,116
26,316
Additions
1,120
1,344
2,464
At 31 May 2025
7,320
21,460
28,780
At 1 June 2024
1,550
5,029
6,579
Charge for the year
1,442
4,108
5,550
At 31 May 2025
2,992
9,137
12,129
At 31 May 2025
4,328
12,323
16,651
At 31 May 2024
4,650
15,087
19,737
Amounts falling due after more than one year
Other debtors
20,740
5,933
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
39,861
10,830
Taxes and social security
5,097
3,303
Loans from directors
2,394
749
7
Creditors: amounts falling due after more than one year
2025
2024
8
Average number of employees
During the year the average number of employees was 4 (2024: 4).