Company No: 04068086 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

Directors	G A Shepherd
	P M Shepherd

Secretary

P M Shepherd

Registered office	Hampton Lodge Cottage
	Brighton Road
	Hassocks
	West Sussex
	BN6 9EF
	United Kingdom

Company number

04068086 (England and Wales)

Accountant	Kreston Reeves LLP
	Springfield House
	Springfield Road
	Horsham
	West Sussex
	United Kingdom

	Note	2025		2024
		£		£
Fixed assets
Investment property	3	640,016		659,958
		640,016		659,958
Current assets
Debtors	4	2,570		6,549
Cash at bank and in hand		9,374		11,283
		11,944		17,832
Creditors: amounts falling due within one year	5	( 439,292)		( 459,200)
Net current liabilities		(427,348)		(441,368)
Total assets less current liabilities		212,668		218,590
Creditors: amounts falling due after more than one year	6	( 10,925)		( 12,998)
Net assets		201,743		205,592
Capital and reserves
Called-up share capital	7	100		100
Revaluation reserve		41,058		61,000
Profit and loss account		160,585		144,492
Total shareholders' funds		201,743		205,592

For the financial 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Penstead Ltd (registered number: 04068086) were approved and authorised for issue by the Board of Directors on 22 June 2026. They were signed on its behalf by:

P M Shepherd Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Penstead Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hampton Lodge Cottage, Brighton Road , Hassocks, West Sussex, BN6 9EF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the
consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following
conditions are satisfied:
- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured
reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Investment property

Investment property is carried at fair value derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	659,958
Fair value movement	(19,942)
As at 31 March 2025	640,016

Valuation

The 2025 valuations were made by the directors, who are internal to the company, on an open market value for existing use basis. If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2025		2024
	£		£
Historic cost	598,958		598,958

4. Debtors

	2025		2024
	£		£
Trade debtors	1,070		1,799
Accrued income	1,500		4,750
	2,570		6,549

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	0		1,640
Amounts owed to directors	299,899		319,572
Accruals and deferred income	4,484		3,889
Taxation and social security	6,813		7,003
Other creditors	128,096		127,096
	439,292		459,200

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Other creditors	10,925		12,998

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1 Ordinary A share of £ 1.00	1		1
1 Ordinary B share of £ 1.00	1		1
98 Ordinary C shares of £ 1.00 each	98		98
	100		100