Pennine Property Management Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04513410 (England and Wales)

Unaudited Financial Statements

for the Year Ended 5 April 2021

for

Pennine Property Management Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs V M Robinson

S J Robinson

REGISTERED OFFICE:

22-28 Willow Street

Accrington

Lancashire

BB5 1LP

REGISTERED NUMBER:

04513410 (England and Wales)

ACCOUNTANTS:

Mayes Business Partnership Ltd

Chartered Certified Accountants

22-28 Willow Street

Accrington

Lancashire

BB5 1LP

FIXED ASSETS

Intangible assets

4

-

-

Investments

5

15,100

95,090

15,100

95,090

CURRENT ASSETS

Debtors

23,326

7,346

Cash at bank

78,749

111,398

102,075

118,744

CREDITORS

Amounts falling due within one year

87,364

111,571

NET CURRENT ASSETS

14,711

7,173

TOTAL ASSETS LESS CURRENT LIABILITIES

29,811

102,263

CREDITORS

Amounts falling due after more than one year

28,038

102,200

NET ASSETS

1,773

63

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

1,771

61

SHAREHOLDERS' FUNDS

1,773

63

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 5 April 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 12 October 2021 and were signed on its behalf by:

Mrs V M Robinson - Director

1.	STATUTORY INFORMATION

Pennine Property Management Ltd 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.

Preparation of consolidated financial statements

The financial statements contain information about Pennine Property Management Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

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

The company provides property management services. Revenue is recognised in the accounting period in which the services are rendered when the outcome of contract can be estimated reliably. The company uses the percentage of completion method based on the actual service performed as a percentage of the total services to be provided.

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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Financial instruments

Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 6 April 2020

and 5 April 2021

6,000

AMORTISATION

At 6 April 2020

and 5 April 2021

6,000

NET BOOK VALUE

At 5 April 2021

-

At 5 April 2020

-

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 6 April 2020

and 5 April 2021

157,605

PROVISIONS

At 6 April 2020

62,515

Charge for year

79,990

At 5 April 2021

142,505

NET BOOK VALUE

At 5 April 2021

15,100

At 5 April 2020

95,090

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

5/4/21

5/4/20

value:

£

£

2

Ordinary

£1

2

2