Peter Jennings Limited - Filleted accounts

Registered number

02341543

Peter Jennings Limited

Filleted Accounts

30 November 2025

Peter Jennings Limited
Registered number:		02341543
Balance Sheet
as at 30 November 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		95,819			115,701
Investment properties	4		756,000			-
			851,819			115,701

Current assets
Stocks		1,598,704			2,119,682
Debtors	5	309,148			457,253
Cash at bank and in hand		433,564			1,215,959
		2,341,416			3,792,894

Creditors: amounts falling due within one year	6	(1,466,450)			(1,988,195)

Net current assets			874,966			1,804,699

Total assets less current liabilities			1,726,785			1,920,400

Creditors: amounts falling due after more than one year	7		(130,000)			(190,000)

Provisions for liabilities			(23,955)			(28,925)


Net assets			1,572,830			1,701,475

Capital and reserves
Called up share capital			100			100
Profit and loss account			1,572,730			1,701,375

Shareholders' funds			1,572,830			1,701,475

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.


Mark Jennings
Director
Approved by the board on 26 August 2026

Peter Jennings Limited
Notes to the Accounts
for the year ended 30 November 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:

	Plant and machinery	25% reducing balance
	Fixtures, fittings, tools and equipment	25% reducing balance

	Investment properties
	Investment properties are properties held to earn rentals and/or for capital appreciation rather than for sale in the ordinary course of business. Investment properties are initially recognised at cost and subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss in the period in which they arise. Where a property previously held as stock is transferred to investment property following a change in use, it is transferred at fair value at the date of transfer. Any difference between the previous carrying amount and fair value is recognised in profit or loss. Investment properties measured at fair value are not depreciated.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company (including directors)			8		6


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 December 2024	236,902		204,515		441,417
	Additions	6,146		23,000		29,146
	Disposals	(38,197)		(49,709)		(87,906)
	At 30 November 2025	204,851		177,806		382,657

	Depreciation
	At 1 December 2024	191,937		133,779		325,716
	Charge for the year	11,542		20,421		31,963
	On disposals	(33,254)		(37,587)		(70,841)
	At 30 November 2025	170,225		116,613		286,838

	Net book value
	At 30 November 2025	34,626		61,193		95,819
	At 30 November 2024	44,965		70,736		115,701


4	Investment properties

Investment
properties					Total
£					£
	Cost
	Transfer from stock and work in progress			652,769		652,769
	Fair value gain recognised in profit or loss:			103,231		103,231

	At 30 November 2025			756,000		756,000

	Historical cost
	At 30 November 2025			652,769

	Investment properties comprise properties held for rental income and/or capital appreciation. During the year, certain properties previously held as stock were transferred to investment property following a change in use. The properties have been valued by the directors at their estimated fair value at 30 November 2025. The valuations have not been undertaken by an independent professionally qualified valuer. The resulting fair value gain of £103,231 has been recognised in profit or loss.


5	Debtors			2025		2024
£					£

	Trade debtors			138,308		285,182
	Other debtors			170,840		172,071
				309,148		457,253


6	Creditors: amounts falling due within one year			2025		2024
£					£

	Bank loans and overdrafts			-		300,000
	Trade creditors			757,712		906,738
	Taxation and social security costs			14,767		54,352
	Other creditors			693,971		727,105
				1,466,450		1,988,195


7	Creditors: amounts falling due after one year			2025		2024
£					£

	Other creditors			130,000		190,000


8	Other information

	Peter Jennings Limited is a private company limited by shares and incorporated in England. Its registered office is:
	449 Brook Lane
	Kings Heath
	Birmingham
	B13 0BT