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Registered number: 01281791 PENNY HOLDINGS LTD UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2025
PENNY HOLDINGS LTD REGISTERED NUMBER: 01281791 BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 8,160 |  | 10,880
Investment property | 5 |  | 4,093,232 |  | 4,180,094
|  |  | 4,101,392 |  | 4,190,974
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 1,259,281 |  | 1,121,008 |
Cash at bank and in hand | 7 | 237,141 |  | 128,275 |
|  | 1,496,422 |  | 1,249,283 |
Creditors: amounts falling due within one year | 8 | (127,055) |  | (130,981) |
Net current assets |  |  | 1,369,367 |  | 1,118,302
Total assets less current liabilities |  |  | 5,470,759 |  | 5,309,276
Creditors: amounts falling due after more than one year | 9 |  | (225,000) |  | (229,167)
Provisions for liabilities |  |  |  |  |
Deferred tax | 10 | (383,700) |  | (388,162) |
|  |  | (383,700) |  | (388,162)
Net assets |  |  | 4,862,059 |  | 4,691,947
Capital and reserves |  |  |  |  |
Called up share capital | 11 |  | 10,000 |  | 10,000
Fair value reserve |  |  | 1,834,681 |  | 1,834,681
Profit and loss account |  |  | 3,017,378 |  | 2,847,266
|  |  | 4,862,059 |  | 4,691,947
Page 1
PENNY HOLDINGS LTD REGISTERED NUMBER: 01281791 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 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:
R M Penny
Director
Date: 19 August 2026
The notes on pages 4 to 11 form part of these financial statements. Page 2
PENNY HOLDINGS LTD STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2025
| Called up share capital | Fair value reserve | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 January 2024 | 10,000 | 1,963,099 | 2,576,713 | 4,549,812
Profit for the year | - | - | 160,135 | 160,135
Equity dividends paid | - | - | (18,000) | (18,000)
Transfer between reserves | - | (128,418) | 128,418 | -
At 1 January 2025 | 10,000 | 1,834,681 | 2,847,266 | 4,691,947
Profit for the year | - | - | 185,112 | 185,112
Equity dividends paid | - | - | (15,000) | (15,000)
At 31 December 2025 | 10,000 | 1,834,681 | 3,017,378 | 4,862,059
| The notes on pages 4 to 11 form part of these financial statements.
Page 3
PENNY HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Penny Holdings Ltd is a private company, limited by shares, and incorporated in England and Wales. The address of its registered office is Marks Farm, Rectory Lane, Battlesbridge, Essex, SS11 7QR. The functional and presentational currency of the company is pounds sterling. 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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The following principal accounting policies have been applied:
| 2.2 | 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. Turnover represents gross rents receivable during the year from investment properties. Rental income from investment properties is accrued on a time apportioned basis under the terms of the lease. Purchases and sales of properties are recognised when legally binding contracts which are irrevocable and effectively unconditional are exchanged and, in the case of disposals, when completion has taken place prior to the date on which the financial statements are approved.
| 2.3 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.4 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.5 | 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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 4
PENNY HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.6 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income or expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.7 | 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, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Fixtures and fittings | - | 25% |
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. Page 5
PENNY HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.8 | Investment property
IInvestment properties are properties held to earn rental income, for capital appreciation, or both. Investment properties are initially recognised at cost, including directly attributable transaction costs. Investment properties are subsequently measured at fair value at each reporting date. Fair value is determined by the directors based on their knowledge and experience of the local property market, having regard, where available, to current market rental levels, market yields and recent transactions involving comparable properties. Appropriate adjustments are made for differences in factors such as location, size, condition, tenure, occupancy and lease terms. No depreciation is charged on investment properties. Changes in fair value are recognised in profit or loss in the period in which they arise.
| 2.9 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.10 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.11 | Creditors
Short-term creditors are measured at the transaction price.
| 2.12 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.13 | 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.
3. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
Page 6
PENNY HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
4. | Tangible fixed assets
|  | Fixtures and fittings
|  | £
| Cost |
| At 1 January 2025 | 16,384
| At 31 December 2025 | 16,384
| Depreciation |
| At 1 January 2025 | 5,504
| Charge for the year on owned assets | 2,720
| At 31 December 2025 | 8,224
| Net book value |
| At 31 December 2025 | 8,160
| At 31 December 2024 | 10,880
Page 7
PENNY HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5. | Investment property
|  | Investment properties
|  | £
| Valuation |
| At 1 January 2025 | 4,180,094
| Additions at cost | 38,582
| Disposals | (125,444)
| At 31 December 2025 | 4,093,232
At 31 December 2025, the investment properties were valued by the directors at £4,093,232. The valuations were based on the directors’ knowledge and experience of local property market conditions, having regard, where available, to current market rental levels, market yields and recent transactions involving comparable properties. Adjustments were made, where appropriate, for differences in location, size, condition, tenure, occupancy and lease terms. The resulting valuations represent the directors’ best estimate of the fair value of the investment properties at the reporting date. No valuation by an independent external professionally qualified valuer was obtained. The fair value adjustment recognised in profit or loss during the year was £nil.
| If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Historic cost | 1,870,699 | 1,957,561
Page 8
PENNY HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 30,181 | 25,345
| Other debtors | 1,225,000 | 1,091,668
| Prepayments and accrued income | 4,100 | 3,995
|  | 1,259,281 | 1,121,008
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 237,141 | 128,275
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loan | - | 10,000
| Trade creditors | 1,100 | 473
| Corporation tax | 58,698 | 47,266
| Other taxation and social security | 5,840 | 4,825
| Other creditors | 993 | 1,178
| Accruals and deferred income | 60,424 | 67,239
|  | 127,055 | 130,981
9. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loan | - | 4,167
| Other loan | 225,000 | 225,000
|  | 225,000 | 229,167
Page 9
PENNY HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
10. | Deferred taxation
|  | 2025 | 2024
|  | £ | £
| At beginning of year | (388,162) | (383,523)
| Charged to profit or loss | 4,462 | (4,639)
| At end of year | (383,700) | (388,162)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (2,040) | (2,720)
| Tax losses carried forward | 439 | 2,411
| Arising upon revaluation of investment properties | (382,099) | (387,853)
|  | (383,700) | (388,162)
11. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 10,000 Ordinary shares of £1 each | 10,000 | 10,000
12. | Dividends
Equity dividends paid during the year amounted to £15,000 (2024: £18,000).
13. | Pension commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £1,204 (2024 - £40,982). The amount payable to the fund at the balance sheet date was £254 (2024 - £294). Page 10
PENNY HOLDINGS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
14. | Related party transactions
| At 31 December 2025, the Company was owed £1,225,000 (2024: £1,091,668) by a company under common control. The companies are related by virtue of the same shareholder holding a majority of the voting rights in both companies. The loan is unsecured, interest-free and repayable on demand. No guarantees have been given or received in respect of the loan. The directors consider the balance to be fully recoverable and no impairment provision has been recognised at the balance sheet date (2024: £nil).
Page 11