Penvale Communications Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06028784 (England and Wales)

Penvale Communications Services Limited

Unaudited Financial Statements

for the Year Ended 31st December 2021

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

E P J Reilly

Miss C L Reilly

SECRETARY:

E P J Reilly

REGISTERED OFFICE:

48 Arwenack Street

Falmouth

Cornwall

TR11 3JH

REGISTERED NUMBER:

06028784 (England and Wales)

ACCOUNTANTS:

Hodgsons

Chartered Accountants

48 Arwenack Street

Falmouth

Cornwall

TR11 3JH

FIXED ASSETS

Tangible assets

4

1,482

866

CURRENT ASSETS

Debtors

5

6,051

24,000

Cash at bank

22,522

37,881

28,573

61,881

CREDITORS

Amounts falling due within one year

6

(8,874

)

(19,322

)

NET CURRENT ASSETS

19,699

42,559

TOTAL ASSETS LESS CURRENT LIABILITIES

21,181

43,425

PROVISIONS FOR LIABILITIES

(282

)

(165

)

NET ASSETS

20,899

43,260

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Profit and loss account

19,899

42,260

SHAREHOLDERS' FUNDS

20,899

43,260

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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 28th September 2022 and were signed on its behalf by:

E P J Reilly - Director

1.	STATUTORY INFORMATION

Penvale Communications Services 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.

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 invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Equipment -25% on a straight line basis

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.

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 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Equipment

£

COST

At 1st January 2021

1,989

Additions

1,167

Disposals

(166

)

At 31st December 2021

2,990

DEPRECIATION

At 1st January 2021

1,123

Charge for year

468

Eliminated on disposal

(83

)

At 31st December 2021

1,508

NET BOOK VALUE

At 31st December 2021

1,482

At 31st December 2020

866

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

2,980

-

Other debtors

3,071

24,000

6,051

24,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

660

7

Taxation and social security

3,489

14,963

Other creditors

4,725

4,352

8,874

19,322