Pen-Life Associates Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02390548 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

PEN-LIFE ASSOCIATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Miss D L Jacobs

Mr T L Hughes

Mrs N C Wright

REGISTERED OFFICE:

3 Tudor Court

Opus Avenue

Nether Poppleton

York

YO26 6RS

REGISTERED NUMBER:

02390548 (England and Wales)

ACCOUNTANTS:

Fortus Limited

Business Advisors & Accountants

Equinox House

Clifton Park, Shipton Road

York

Yorkshire

YO30 5PA

FIXED ASSETS

Intangible assets

4

190,041

256,002

Tangible assets

5

52,363

52,164

242,404

308,166

CURRENT ASSETS

Stocks

12,500

15,000

Debtors

6

52,954

7,428

Cash at bank

1,323,636

1,286,257

1,389,090

1,308,685

CREDITORS

Amounts falling due within one year

7

377,440

282,703

NET CURRENT ASSETS

1,011,650

1,025,982

TOTAL ASSETS LESS CURRENT LIABILITIES

1,254,054

1,334,148

CREDITORS

Amounts falling due after more than one
year

8

(759

)

-

PROVISIONS FOR LIABILITIES

(10,697

)

(13,041

)

NET ASSETS

1,242,598

1,321,107

RESERVES

Share capital

100

Revaluation reserve

9

306,912

Capital redemption reserve

10,409

Other reserves

(5,087,800

)

(4,127,800

)

Retained earnings

6,012,977

5,131,486

1,242,598

1,321,107

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2026 and were signed on its behalf by:

Mr T L Hughes - Director

Miss D L Jacobs - Director

Mrs N C Wright - Director

1.	STATUTORY INFORMATION

Pen-Life Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair

value of net assets acquired. It is initially recognised as an asset at cost and is subsequently

measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is

considered to have a finite useful life and is amortised on a systematic basis over its expected life.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected

to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are

tested for impairment at least annually, or more frequently when there is an indication that the unit

may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying

amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any

goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the

carrying amount of each asset in the unit.

Intangible assets

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Client List 5% Straight Line

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment 30% reducing balance

Fixtures, fittings & equipment 15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2024 - 27 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

COST

At 1 January 2025

and 31 December 2025

595,000

724,221

1,319,221

AMORTISATION

At 1 January 2025

448,818

614,401

1,063,219

Charge for year

29,750

36,211

65,961

At 31 December 2025

478,568

650,612

1,129,180

NET BOOK VALUE

At 31 December 2025

116,432

73,609

190,041

At 31 December 2024

146,182

109,820

256,002

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

363,724

Additions

15,119

At 31 December 2025

378,843

DEPRECIATION

At 1 January 2025

311,560

Charge for year

14,920

At 31 December 2025

326,480

NET BOOK VALUE

At 31 December 2025

52,363

At 31 December 2024

52,164

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

52,954

7,428

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Finance leases

9,080

-

Taxation and social security

318,162

262,674

Other creditors

50,198

20,029

377,440

282,703

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Finance leases

759

-

9.

RESERVES

Revaluation

reserve

£

At 1 January 2025

and 31 December 2025

306,912

10.	LEASING RIGHT-OF-USE ASSETS

Motor
Vehicles

Total

COST

At 1 January 2025

-

Additions

12,519

At 31 December 2025

12,519

DEPRECIATION

At 1 January 2025

-

Charge for the year

2,946

Eliminated on disposal

-

At 31 December 2025

2,946

NET BOOK VALUE

At 31 December 2025

9,573

At 1 January 2025

-

Lease Liabilities

Minimum lease payments fall due as follows:

2025

£

Right-of-use

assets

Within one year

9,080

Between one and five years

759

9,839

Amounts recognised in profit and loss:

2025

£

Interest on lease liabilities

469

Variable lease payments expensed

955

1,424