Penpole Events Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Penpole Events Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12719218 . The registered office is The Loggia, Kings Weston House, Kings Weston Lane, Bristol, BS11 0UR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. It remains to have the support of the parent company.

2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Improvements	10% on cost
Equipment	20% on cost
Motor Vehicles	25% on cost
Fixtures & Fittings	20% on cost
Website Costs	20% on cost

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Penpole Events Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 13 (2024: 13)

4. Tangible Assets

	Land & Property
	Improvements	Equipment	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 January 2025	1,248,120	275,331	12,298	376,706
Additions	23,638	3,221	17,917	2,923

As at 31 December 2025	1,271,758	278,552	30,215	379,629

Depreciation
As at 1 January 2025	437,845	166,916	6,149	228,589
Provided during the period	127,176	55,710	7,554	67,117

As at 31 December 2025	565,021	222,626	13,703	295,706

Net Book Value
As at 31 December 2025	706,737	55,926	16,512	83,923

As at 1 January 2025	810,275	108,415	6,149	148,117

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Penpole Events Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025


	Website Costs	Total
	£	£
Cost
As at 1 January 2025	7,700	1,920,155
Additions	-	47,699

As at 31 December 2025	7,700	1,967,854

Depreciation
As at 1 January 2025	-	839,499
Provided during the period	-	257,557

As at 31 December 2025	-	1,097,056

Net Book Value
As at 31 December 2025	7,700	870,798

As at 1 January 2025	7,700	1,080,656

5. Stocks

	2025	2024
	£	£
Stock	11,408	11,408

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	30,230	36,643
Other debtors	454,651	410,594

	484,881	447,237

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	48,990	20,933
Amounts owed to group undertakings	2,036,153	1,684,071
Other creditors	1,891,668	1,820,172
Taxation and social security	3,733	9,208

	3,980,544	3,534,384

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1	1

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Penpole Events Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

9. Related Party Transactions

Kings Weston Limited

Parent Company

At the year end the company owed £120,642 (2024 - £137,213) to Kings Weston Limited

Weston Regis Limited

A group company, a subsidiary of Kings Weston Limited

At the year end the company owed £1,915,510 (2024 - £1,546,858) to Weston Regis Limited

Mr J E Barbey lll

Director of the company

At the year end the company owed £1,847,485 (2024 - £1,440,889) to Mr J E Barbey lll

10. Ultimate Controlling Party

The company's ultimate controlling party is Mr J E Barbey lll by virtue of his majority sharesholding in the parent compasny Kings Wetson Limited.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		870,798		1,080,656

			870,798		1,080,656
CURRENT ASSETS
Stocks	5	11,408		11,408
Debtors	6	484,881		447,237
Cash at bank and in hand		8,252		16,558

		504,541		475,203
Creditors: Amounts Falling Due Within One Year	7	(3,980,544 )		(3,534,384 )

NET CURRENT ASSETS (LIABILITIES)			(3,476,003 )		(3,059,181 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(2,605,205 )		(1,978,525 )

NET LIABILITIES			(2,605,205 )		(1,978,525 )

CAPITAL AND RESERVES
Called up share capital	8		1		1
Profit and Loss Account			(2,605,206 )		(1,978,526 )

SHAREHOLDERS' FUNDS			(2,605,205)		(1,978,525)

Mr J E Barbey III Director	Mr J H Garcia Director
09/09/2026