Penhale Homes Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07153573 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Penhale Homes Ltd

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

K R Skinner

R G Skinner

REGISTERED OFFICE:

Penmorvah

Tywardreath Hill

Par

Cornwall

PL24 2AP

REGISTERED NUMBER:

07153573 (England and Wales)

FIXED ASSETS

Tangible assets

4

7,295

9,880

CURRENT ASSETS

Debtors

148,003

168,930

Cash at bank

653

22,570

148,656

191,500

CREDITORS

Amounts falling due within one year

10,900

4,583

NET CURRENT ASSETS

137,756

186,917

TOTAL ASSETS LESS CURRENT LIABILITIES

145,051

196,797

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

144,951

196,697

SHAREHOLDERS' FUNDS

145,051

196,797

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 March 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 October 2020 and were signed on its behalf by:

K R Skinner - Director

1.	STATUTORY INFORMATION

Penhale Homes Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents net amounts invoiced by the company in respect of services provided during the period excluding value added tax. Turnover is wholly attributable to the company's main activity and arises entirely in the UK.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2019

23,650

Disposals

(520

)

At 31 March 2020

23,130

DEPRECIATION

At 1 April 2019

13,770

Charge for year

2,431

Eliminated on disposal

(366

)

At 31 March 2020

15,835

NET BOOK VALUE

At 31 March 2020

7,295

At 31 March 2019

9,880