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Registered number: 01810948 PENHALIGAN SILVERWARE LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 AUGUST 2025
PENHALIGAN SILVERWARE LIMITED REGISTERED NUMBER: 01810948 STATEMENT OF FINANCIAL POSITION AS AT 31 AUGUST 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 4,775 |  | 14,912
|  |  | 4,775 |  | 14,912
Current assets |  |  |  |  |
Stocks | 5 | 37,480 |  | 42,385 |
Debtors: amounts falling due within one year | 6 | 152,040 |  | 227,105 |
Cash at bank and in hand | 7 | 53,240 |  | 9,443 |
|  | 242,760 |  | 278,933 |
Creditors: amounts falling due within one year | 8 | (246,924) |  | (287,679) |
Net current liabilities |  |  | (4,166) |  | (8,746)
Total assets less current liabilities |  |  | 609 |  | 6,166
Net assets |  |  | 609 |  | 6,166
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 100 |  | 100
Profit and loss account |  |  | 509 |  | 6,066
|  |  | 609 |  | 6,166
Page 1
PENHALIGAN SILVERWARE LIMITED REGISTERED NUMBER: 01810948 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 AUGUST 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
D Penhaligan
Director
Date: 2 July 2026
The notes on pages 3 to 7 form part of these financial statements. Page 2
PENHALIGAN SILVERWARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
1. | General information
Penhaligan Silverware Limited is a private company limited by shares incorporated in England & Wales (registered number 01810948). The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Going concern
In assessing the ability of the Company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the Company. As a result, the directors consider it appropriate to prepare the financial statements on a going concern basis.
| 2.3 | Revenue
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: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.4 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds. Page 3
PENHALIGAN SILVERWARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 2.Accounting policies (continued)
| 2.5 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Short-term leasehold property | - | Straight line over the life of the lease
|  |  |  | Motor vehicles | - | 20% Straight Line
|  |  |  | Fixtures and fittings | - | 20% Straight Line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.6 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is 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.
| 2.7 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.8 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.9 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Page 4
PENHALIGAN SILVERWARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
3. | Employees
| The average monthly number of employees, including directors, during the year was 13 (2024 - 13).
4. | Tangible fixed assets
|  | Short-term leasehold property | Motor vehicles | Fixtures and fittings | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 September 2024 | 100,484 | 38,010 | 16,947 | 155,441
| At 31 August 2025 | 100,484 | 38,010 | 16,947 | 155,441
| Depreciation |  |  |  |
| At 1 September 2024 | 85,660 | 38,010 | 16,858 | 140,528
| Charge for the year on owned assets | 10,048 | - | 89 | 10,137
| At 31 August 2025 | 95,708 | 38,010 | 16,947 | 150,665
| Net book value |  |  |  |
| At 31 August 2025 | 4,776 | - | - | 4,776
| At 31 August 2024 | 14,823 | - | 89 | 14,912
Page 5
PENHALIGAN SILVERWARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
5. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Finished goods and goods for resale | 37,480 | 42,385
|  | 37,480 | 42,385
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 133,677 | 205,791
| Other debtors | 6,847 | 8,026
| Prepayments and accrued income | 11,516 | 13,288
|  | 152,040 | 227,105
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 53,240 | 9,443
|  | 53,240 | 9,443
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 102,150 | 109,353
| Corporation tax | 6,918 | 15,908
| Other taxation and social security | 39,094 | 31,933
| Other creditors | 77,310 | 101,680
| Accruals and deferred income | 21,452 | 28,805
|  | 246,924 | 287,679
Page 6
PENHALIGAN SILVERWARE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
9. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 63 (2024 - 63) Ordinary - A shares of £1.00 each | 63 | 63
|  | 10 (2024 - 10) Ordinary - B shares of £1.00 each | 10 | 10
|  | 25 (2024 - 25) Ordinary - C shares of £1.00 each | 25 | 25
|  | 1 (2024 - 1) Ordinary - D share of £1.00 | 1 | 1
|  | 1 (2024 - 1) Ordinary - E share of £1.00 | 1 | 1
|  |  | 100 | 100
Page 7