REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
PENTEL LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
PENTEL LIMITED |
PENTEL LIMITED (REGISTERED NUMBER: 04151961) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PENTEL LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
61 Station Road |
Sudbury |
Suffolk |
CO10 2SP |
PENTEL LIMITED (REGISTERED NUMBER: 04151961) |
BALANCE SHEET |
31 DECEMBER 2022 |
31.12.21 | 31.12.22 |
£ | £ | Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
( |
) | NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
( |
) | Amounts falling due after more than one year |
8 |
( |
) |
( |
) | PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
PENTEL LIMITED (REGISTERED NUMBER: 04151961) |
BALANCE SHEET - continued |
31 DECEMBER 2022 |
31.12.21 | 31.12.22 |
£ | £ | Notes | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Share premium |
Property revaluation | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
PENTEL LIMITED (REGISTERED NUMBER: 04151961) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
1. | STATUTORY INFORMATION |
Pentel Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
The company derives its income from rents receivable, which are accounted for under the accruals basis. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings - 15% on reducing balance |
In accordance with FRS 102 Section 1A, freehold property is revalued annually at fair value. |
Where the current fair value of a property is below its original cost any surplus or deficit on revaluation is transferred to the profit and loss account. |
Where the current fair value of a property is in excess of its original cost, any surplus or deficit on revaluation is transferred to the revaluation reserve. |
No depreciation is provided in respect of freehold property. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Financial instruments |
The company enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statemernts such as trade and other accounts receivable and payable, bank loans and hire purchase and lease contracts. |
PENTEL LIMITED (REGISTERED NUMBER: 04151961) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and |
Totals | property | fittings |
£ | £ | £ |
COST OR VALUATION |
At 1 January 2022 |
and 31 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for year |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
PENTEL LIMITED (REGISTERED NUMBER: 04151961) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
4. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31 December 2022 is represented by: |
Fixtures |
Freehold | and |
Totals | property | fittings |
£ | £ | £ |
Valuation in 2009 | 488,615 | 488,615 | - |
Valuation in 2010 | 160,000 | 160,000 | - |
Valuation in 2011 | 85,000 | 85,000 | - |
Valuation in 2012 | 500,000 | 500,000 | - |
Valuation in 2013 | 290,000 | 290,000 | - |
Valuation in 2015 | 385,000 | 385,000 | - |
Valuation in 2016 | 166,500 | 166,500 | - |
Valuation in 2019 | 473,785 | 473,785 | - |
Cost | 2,560,876 | 2,501,100 | 59,776 |
5,109,776 | 5,050,000 | 59,776 |
If the properties had not been revalued they would have been included at the following historical cost: |
31.12.22 | 31.12.21 |
£ | £ |
Cost | 2,501,100 | 2,501,100 |
The properties were valued on at fair value basis on 31 December 2022 by By Choice Estate Agents Limited (RICS) . |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
Additions |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
During the year the company acquired 70 Ordinary £1 shares held by the director in another trading company in a share for share exchange. |
PENTEL LIMITED (REGISTERED NUMBER: 04151961) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 1,247,620 | 1,221,975 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.12.22 | 31.12.21 |
£ | £ |
Bank loans |
Lloyds Bank and Paratus Amc Limited hold fixed and floating charges over the company's assets. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.22 | 31.12.21 |
value: | £ | £ |
Ordinary 'B' shares | £1 | 120 | 50 |
PENTEL LIMITED (REGISTERED NUMBER: 04151961) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
11. | PROPERTY REVALUATION |
Property |
revaluation |
£ |
At 1 January 2022 |
and 31 December 2022 |