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REGISTERED NUMBER:
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PENCHARD LTD. |
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FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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18 APRIL 2016 TO 31 DECEMBER 2016 |
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REGISTERED NUMBER:
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PENCHARD LTD. |
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FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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18 APRIL 2016 TO 31 DECEMBER 2016 |
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PENCHARD LTD. (REGISTERED NUMBER: 10130317) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 18 APRIL 2016 TO 31 DECEMBER 2016 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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PENCHARD LTD. |
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COMPANY INFORMATION |
FOR THE PERIOD 18 APRIL 2016 TO 31 DECEMBER 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Santis House |
Curriers Close |
Coventry |
West Midlands |
CV4 8AW |
PENCHARD LTD. (REGISTERED NUMBER: 10130317) |
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BALANCE SHEET |
31 DECEMBER 2016 |
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Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks | 6 |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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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. |
PENCHARD LTD. (REGISTERED NUMBER: 10130317) |
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BALANCE SHEET - continued |
31 DECEMBER 2016 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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PENCHARD LTD. (REGISTERED NUMBER: 10130317) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 18 APRIL 2016 TO 31 DECEMBER 2016 |
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1. | STATUTORY INFORMATION |
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Penchard Ltd. is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured |
at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Office equipment | - |
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Stocks |
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 items. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling |
costs in bringing stocks to their present location and condition. |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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PENCHARD LTD. (REGISTERED NUMBER: 10130317) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 18 APRIL 2016 TO 31 DECEMBER 2016 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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 period end and that |
are expected to apply to the reversal of the timing difference. |
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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. |
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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. |
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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. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
period of the lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
Goodwill | assets | Totals |
£ | £ | £ |
COST |
Additions |
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At 31 December 2016 |
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AMORTISATION |
Charge for period |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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PENCHARD LTD. (REGISTERED NUMBER: 10130317) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 18 APRIL 2016 TO 31 DECEMBER 2016 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Office |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
Additions |
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At 31 December 2016 |
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DEPRECIATION |
Charge for period |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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Fixed assets, included in the above, which are held under finance leases are as follows: |
Motor |
vehicles |
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COST |
Additions |
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At 31 December 2016 |
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DEPRECIATION |
Charge for period |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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6. | STOCKS |
£ |
Stocks |
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Work-in-progress |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
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Other debtors |
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Directors' loan accounts |
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Prepayments |
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PENCHARD LTD. (REGISTERED NUMBER: 10130317) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 18 APRIL 2016 TO 31 DECEMBER 2016 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Finance leases |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT |
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Other creditors |
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Directors' loan accounts |
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Accruals and deferred income |
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Accrued expenses |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
£ |
Finance leases |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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£ |
Finance leases | 61,847 |
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Finance leases are secured over the assets to which they relate. |
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11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the period ended |
31 December 2016: |
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£ |
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Balance outstanding at start of period |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - |
Amounts waived | - |
Balance outstanding at end of period |
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The advances detailed above, to Mr R Diplock, have been made on an interest free basis and are |
repayable on demand. The maximum amount outstanding during the year was £12,856. |
PENCHARD LTD. (REGISTERED NUMBER: 10130317) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 18 APRIL 2016 TO 31 DECEMBER 2016 |
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12. | RELATED PARTY DISCLOSURES |
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On the 1 May 2016 the company acquired the trade and net assets of Penchard Innovations LLP. The |
assets and liabilities were acquired at their fair value. The directors of the company are members of |
the LLP. |
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Included within creditors are loans to the company from the directors totalling £435,360. The loans |
have been made on an interest free basis and are repayable on demand. |
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13. | POST BALANCE SHEET EVENTS |
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After the balance sheet date, but prior to the approval of these financial statements, the company paid |
final dividends for the year ended 31 December 2016 totalling £51,268. |
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14. | ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY |
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The company is a wholly-owned subsidiary of Penchard (Holdings) Ltd - company number: 10149709 - |
registered office address: Manor Farm, Abbotts Ann, Andover, Hampshire, United Kingdom, SP11 |
7DB. |