Penridge Limited - Accounts to registrar (filleted) - small 18.2
Penridge Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2020 |
| FOR |
| PENRIDGE LIMITED |
| PENRIDGE LIMITED (REGISTERED NUMBER: 08900328) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2020 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Chartered Accountants' Report | 6 |
| PENRIDGE LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 March 2020 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 88 Crawford Street |
| London |
| W1H 2EJ |
| PENRIDGE LIMITED (REGISTERED NUMBER: 08900328) |
| ABRIDGED BALANCE SHEET |
| 31 March 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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 |
| PENRIDGE LIMITED (REGISTERED NUMBER: 08900328) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2020 |
| 1. | STATUTORY INFORMATION |
| Penridge Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are prepared in UK Pound Sterling, which is the functional currency of the company. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable for dental services provided to patients. |
| Goodwill |
| 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. |
| Tangible fixed assets |
| Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
| Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets, over their expected useful lives as follows: |
| Motor vehicles - 25% on cost |
| Computer equipment - 25% on reducing balance |
| At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement. |
| If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the income statement. |
| 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. |
| PENRIDGE LIMITED (REGISTERED NUMBER: 08900328) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Employee benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate. |
| The company provides a range of benefits to employees, including annual bonus arrangements, paid holiday arrangements and defined contribution pension plans. |
| Short term benefits: |
| Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received. |
| Annual bonus plans: |
| The company recognises a provision and an expense for bonuses where the company has a legal or constructive obligation as a result of past events and a reliable estimate can be made. This can include discretionary bonuses which have been approved at the year end. |
| Defined contribution pension plans: |
| The company operates a defined contribution plan. A defined contribution plan is a pension plan under which the company pays contributions into a separate fund. Under defined contribution plans, the company has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. |
| For defined contribution plans, the company pays contributions to privately administered pension plans on a contractual or voluntary basis. The company has no further payment obligations once the contributions have been paid. The contributions are recognised as employee benefit expense when they are due. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in the future payments is available. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 April 2019 |
| and 31 March 2020 |
| AMORTISATION |
| At 1 April 2019 |
| and 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| 5. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 April 2019 |
| Additions |
| At 31 March 2020 |
| DEPRECIATION |
| At 1 April 2019 |
| Charge for year |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| PENRIDGE LIMITED (REGISTERED NUMBER: 08900328) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2020 |
| 6. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 March 2020 and 31 March 2019: |
| 2020 | 2019 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| The directors account is overdrawn at the year end, but was cleared in full by a dividend within nine months. |
| Interest at 2.5% pa was charged on the overdrawn account and credited to Interest received. |
| CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| PENRIDGE LIMITED |
| The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Penridge Limited for the year ended 31 March 2020 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of Penridge Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Penridge Limited and state those matters that we have agreed to state to the director of Penridge Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Penridge Limited and its director for our work or for this report. |
| It is your duty to ensure that Penridge Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Penridge Limited. You consider that Penridge Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Penridge Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| 88 Crawford Street |
| London |
| W1H 2EJ |