Pentel Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 04151961 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

PENTEL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms E C Turner

REGISTERED OFFICE:

61 Station Road

Sudbury

Suffolk

CO10 2SP

REGISTERED NUMBER:

04151961 (England and Wales)

ACCOUNTANTS:

Seago and Stopps

Chartered Certified Accountants

61 Station Road

Sudbury

Suffolk

CO10 2SP

FIXED ASSETS

5,052,445

Tangible assets

4

5,052,078

-

Investments

5

523,090

5,052,445

5,575,168

CURRENT ASSETS

2,637

Debtors

6

4,447

5,127

Cash at bank and in hand

16,729

7,764

21,176

CREDITORS

1,475,611

Amounts falling due within one year

7

1,448,591

(1,467,847

)

NET CURRENT LIABILITIES

(1,427,415

)

3,584,598

TOTAL ASSETS LESS CURRENT LIABILITIES

4,147,753

CREDITORS

(1,416,011

)

Amounts falling due after more than one year

8

(1,388,124

)

(484,756

)

PROVISIONS FOR LIABILITIES

(484,686

)

1,683,831

NET ASSETS

2,274,943

CAPITAL AND RESERVES

50

Called up share capital

10

120

-

Share premium

517,930

1,436,880

Property revaluation

11

1,436,880

246,901

Retained earnings

320,013

1,683,831

SHAREHOLDERS' FUNDS

2,274,943

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 2 August 2023 and were signed by:

Ms E C Turner - Director

1.	STATUTORY INFORMATION

Pentel 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 as modified by the revaluation of certain assets.

Turnover

The company derives its income from rents receivable, which are accounted for under the accruals basis.

Tangible fixed assets

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

Fixtures and fittings - 15% on reducing balance

In accordance with FRS 102 Section 1A, freehold property is revalued annually at fair value.

Where the current fair value of a property is below its original cost any surplus or deficit on revaluation is transferred to the profit and loss account.

Where the current fair value of a property is in excess of its original cost, any surplus or deficit on revaluation is transferred to the revaluation reserve.

No depreciation is provided in respect of freehold property.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The company enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statemernts such as trade and other accounts receivable and payable, bank loans and hire purchase and lease contracts.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Totals

property

fittings

£

£

£

COST OR VALUATION

At 1 January 2022

and 31 December 2022

5,109,776

5,050,000

59,776

DEPRECIATION

At 1 January 2022

57,331

-

57,331

Charge for year

367

-

367

At 31 December 2022

57,698

-

57,698

NET BOOK VALUE

At 31 December 2022

5,052,078

5,050,000

2,078

At 31 December 2021

5,052,445

5,050,000

2,445

Cost or valuation at 31 December 2022 is represented by:

Fixtures

Freehold

and

Totals

property

fittings

£

£

£

Valuation in 2009

488,615

488,615

-

Valuation in 2010

160,000

160,000

-

Valuation in 2011

85,000

85,000

-

Valuation in 2012

500,000

500,000

-

Valuation in 2013

290,000

290,000

-

Valuation in 2015

385,000

385,000

-

Valuation in 2016

166,500

166,500

-

Valuation in 2019

473,785

473,785

-

Cost

2,560,876

2,501,100

59,776

5,109,776

5,050,000

59,776

If the properties had not been revalued they would have been included at the following historical cost:

31.12.22

31.12.21

£

£

Cost

2,501,100

2,501,100

The properties were valued on at fair value basis on 31 December 2022 by By Choice Estate Agents Limited (RICS) .

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

523,090

At 31 December 2022

523,090

NET BOOK VALUE

At 31 December 2022

523,090

During the year the company acquired 70 Ordinary £1 shares held by the director in another trading company in a share for share exchange.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Other debtors

4,447

2,637

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Bank loans and overdrafts

35,126

48,509

Taxation and social security

17,220

19,519

Other creditors

1,396,245

1,407,583

1,448,591

1,475,611

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.22

31.12.21

£

£

Bank loans

1,388,124

1,416,011

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,247,620

1,221,975

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.22

31.12.21

£

£

Bank loans

1,423,250

1,464,520

Lloyds Bank and Paratus Amc Limited hold fixed and floating charges over the company's assets.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.22

31.12.21

value:

£

£

50

Ordinary 'B' shares

£1

120

50

11.	PROPERTY REVALUATION

Property

revaluation

£

At 1 January 2022

and 31 December 2022

1,436,880