Pennington Silver Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 06360558 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

PENNINGTON SILVER LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P E Silver

Mrs K Silver

REGISTERED OFFICE:

30 Union Street

Southport

Merseyside

PR9 0QE

REGISTERED NUMBER:

06360558 (England and Wales)

ACCOUNTANTS:

Pennington Silver

30 Union Street

Southport

Merseyside

PR9 0QE

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,829

1,202

1,829

1,202

CURRENT ASSETS

Stocks

1,200

1,200

Debtors

6

48,122

49,355

Cash at bank and in hand

123,162

101,901

172,484

152,456

CREDITORS

Amounts falling due within one year

7

93,685

73,677

NET CURRENT ASSETS

78,799

78,779

TOTAL ASSETS LESS CURRENT LIABILITIES

80,628

79,981

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

80,528

79,881

SHAREHOLDERS' FUNDS

80,628

79,981

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 29 October 2022 and were signed on its behalf by:

P E Silver - Director

1.	STATUTORY INFORMATION

Pennington Silver 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.

Turnover

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

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

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

Plant and machinery

-

25% on cost

Computer equipment

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present 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.

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 4 (2021 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2021

and 31 March 2022

240,000

AMORTISATION

At 1 April 2021

and 31 March 2022

240,000

NET BOOK VALUE

At 31 March 2022

-

At 31 March 2021

-

5.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 April 2021

2,366

5,604

7,970

Additions

-

1,950

1,950

At 31 March 2022

2,366

7,554

9,920

DEPRECIATION

At 1 April 2021

2,104

4,664

6,768

Charge for year

261

1,062

1,323

At 31 March 2022

2,365

5,726

8,091

NET BOOK VALUE

At 31 March 2022

1

1,828

1,829

At 31 March 2021

262

940

1,202

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

48,122

49,355

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade creditors

211

452

Taxation and social security

27,422

23,935

Other creditors

66,052

49,290

93,685

73,677