Pentire Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07778781 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2020

for

Pentire Investments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R J H Palmer

Mrs L Palmer

SECRETARY:

Mrs L Palmer

REGISTERED OFFICE:

Quantum House

3-5 College Street

Nottingham

NG1 5AQ

REGISTERED NUMBER:

07778781 (England and Wales)

ACCOUNTANTS:

Mellor Oxland LLP

Quantum House

3-5 College Street

Nottingham

NG1 5AQ

FIXED ASSETS

Tangible assets

4

2,397

-

Investments

5

328,500

378,316

Investment property

6

800,000

800,000

1,130,897

1,178,316

CURRENT ASSETS

Debtors

7

158,726

4,013

Cash at bank

287,077

460,423

445,803

464,436

CREDITORS

Amounts falling due within one year

8

1,157,038

1,085,254

NET CURRENT LIABILITIES

(711,235

)

(620,818

)

TOTAL ASSETS LESS CURRENT LIABILITIES

419,662

557,498

PROVISIONS FOR LIABILITIES

22,910

22,910

NET ASSETS

396,752

534,588

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Property revaluation reserve

9

186,288

186,288

Retained earnings

9

209,464

347,300

396,752

534,588

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 13 May 2021 and were signed on its behalf by:

Mr R J H Palmer - Director

1.	STATUTORY INFORMATION

Pentire Investments Limited 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc

-

33% on cost and straight line over 3 years

Investment property

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in the profit and loss.

The investment property fair value of £800,000 (2019 £800,000) was determined by the directors by analysing current market prices for comparable property, adjusted for any difference in nature, location and condition.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2019

1,328

Additions

3,078

Disposals

(1,328

)

At 30 September 2020

3,078

DEPRECIATION

At 1 October 2019

1,328

Charge for year

681

Eliminated on disposal

(1,328

)

At 30 September 2020

681

NET BOOK VALUE

At 30 September 2020

2,397

5.	FIXED ASSET INVESTMENTS

Other

investment

£

COST OR VALUATION

At 1 October 2019

378,316

Additions

420

Disposals

(32,580

)

Revaluations

(17,656

)

At 30 September 2020

328,500

NET BOOK VALUE

At 30 September 2020

328,500

At 30 September 2019

378,316

The historic cost of unlisted investments is £320,545 (2019 £348,301). Valuations are based on the details provided by the management and advisors of the entities in which the investments have been made.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2019

and 30 September 2020

800,000

NET BOOK VALUE

At 30 September 2020

800,000

At 30 September 2019

800,000

Historic cost of Investment Property is £590,802 (2019 £590,802).

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

158,726

4,013

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Taxation and social security

-

5,352

Other creditors

1,157,038

1,079,902

1,157,038

1,085,254

9.

RESERVES

Property

Retained

revaluation

earnings

reserve

Totals

£

£

£

At 1 October 2019

347,300

186,288

533,588

Deficit for the year

(87,836

)

(87,836

)

Dividends

(50,000

)

(50,000

)

At 30 September 2020

209,464

186,288

395,752

Profit and loss reserves include undistributable reserves of £5,504 (2019 £30,015) relating to the revaluation of unlisted investments.