A & T Penny Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09471711 (England and Wales)

Abridged Unaudited Financial Statements for the Year Ended 31 July 2020

for

A & T Penny Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A J Penny

Mrs P Penny

REGISTERED OFFICE:

5 Elm Drive

Blakedown

Kidderminster

Worcestershire

DY10 3NF

REGISTERED NUMBER:

09471711 (England and Wales)

ACCOUNTANTS:

Smart Accountancy Solutions Limited

3 Taylors Lane

Worcester

WR1 1PN

FIXED ASSETS

Intangible assets

4

110,000

132,000

Investments

5

305,851

305,851

415,851

437,851

CREDITORS

Amounts falling due within one year

363,790

415,090

NET CURRENT LIABILITIES

(363,790

)

(415,090

)

TOTAL ASSETS LESS CURRENT LIABILITIES

52,061

22,761

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

7

52,059

22,759

SHAREHOLDERS' FUNDS

52,061

22,761

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Balance Sheet for the year ended 31 July 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 20 November 2020 and were signed on its behalf by:

Mrs P Penny - Director

Mr A J Penny - Director

1.	STATUTORY INFORMATION

A & T Penny 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.

Preparation of consolidated financial statements

The financial statements contain information about A & T Penny Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2019

and 31 July 2020

220,000

AMORTISATION

At 1 August 2019

88,000

Amortisation for year

22,000

At 31 July 2020

110,000

NET BOOK VALUE

At 31 July 2020

110,000

At 31 July 2019

132,000

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 August 2019

and 31 July 2020

305,851

NET BOOK VALUE

At 31 July 2020

305,851

At 31 July 2019

305,851

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.20

31.7.19

value:

£

£

2

Ordinary

£1

2

2

7.

RESERVES

Retained

earnings

£

At 1 August 2019

22,759

Profit for the year

79,300

Dividends

(50,000

)

At 31 July 2020

52,059

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A Penny and Mrs P A Penny.