Penfield Licencing Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 13045163 (England and Wales)

PENFIELD LICENCING LIMITED

Unaudited Financial Statements

for the Period 25 November 2020 to 30 June 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

Director:

A T Jalil

Registered office:

Unit 1 Windsor Industrial Estate

424 Ware Road

Hertford

Hertfordshire

West Midlands

SG13 7EW

Registered number:

13045163 (England and Wales)

Fixed assets

Intangible assets

4

500,000

Current assets

Debtors

5

103,793

Creditors

Amounts falling due within one year

6

637,164

Net current liabilities

(533,371

)

Total assets less current liabilities

(33,371

)

Capital and reserves

Called up share capital

7

100

Retained earnings

(33,471

)

Shareholders' funds

(33,371

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.

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.

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 director and authorised for issue on 30 June 2022 and were signed by:

A T Jalil - Director

1.	Statutory information

Penfield Licencing 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.

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.

Intellectual property are being amortised evenly over their estimated useful life of nil years.

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.

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 period 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 period was NIL.

4.	Intangible fixed assets

Intellectual

property

£

Cost

Additions

500,000

At 30 June 2021

500,000

Net book value

At 30 June 2021

500,000

5.

Debtors: amounts falling due within one year

£

VAT

103,693

Called up share capital not paid

100

103,793

6.

Creditors: amounts falling due within one year

£

Trade creditors

2,686

Amounts owed to participating interests

619,634

Accruals and deferred income

14,844

637,164

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

8.	Related party disclosures

As at 30 June 2021 the company owed £619,634 to Brand Machine International Limited, a company under

control of the director.

9.	Ultimate controlling party

The controlling party is A T Jalil.

The ultimate controlling party is A T Jalil.