ACCOUNTS - Final Accounts preparation

Creditors: Amounts falling due within one year

As restated

PENTONVILLE 158 LTD - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31falseNo description of principal activity12022-01-011truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05704260 2022-01-01 2022-12-31 05704260 2021-01-01 2021-12-31 05704260 2022-12-31 05704260 2021-12-31 05704260 c:Director1 2022-01-01 2022-12-31 05704260 d:CurrentFinancialInstruments 2022-12-31 05704260 d:CurrentFinancialInstruments 2021-12-31 05704260 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 05704260 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 05704260 d:ShareCapital 2022-12-31 05704260 d:ShareCapital 2021-12-31 05704260 d:RetainedEarningsAccumulatedLosses 2022-12-31 05704260 d:RetainedEarningsAccumulatedLosses 2021-12-31 05704260 c:FRS102 2022-01-01 2022-12-31 05704260 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 05704260 c:FullAccounts 2022-01-01 2022-12-31 05704260 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 05704260 4 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 05704260

PENTONVILLE 158 LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

PENTONVILLE 158 LIMITED

REGISTERED NUMBER: 05704260

BALANCE SHEET

AS AT 31 DECEMBER 2022

		As restated
	2022	2021
Note	£	£


Current assets
Stocks and work in progress		3,550,238		3,550,238
Debtors: amounts falling due within one year	4	159,328		303,977
Cash at bank and in hand	5	7,327		1,058
		3,716,893		3,855,273
Creditors: amounts falling due within one year	6	(5,176,168)		(5,074,857)
Net current liabilities			(1,459,275)		(1,219,584)
Total assets less current liabilities			(1,459,275)		(1,219,584)

Net liabilities			(1,459,275)		(1,219,584)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(1,459,375)	(1,219,684)
	(1,459,275)	(1,219,584)

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PENTONVILLE 158 LIMITED

REGISTERED NUMBER: 05704260

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

P J Benardout

Director

Date: 30 December 2023

The notes on pages 3 to 5 form part of these financial statements.

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PENTONVILLE 158 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1.	General information

Pentonville 158 Limited is a private company, limited by shares, incorporated in the United Kindom and registered in England and Wales. The company's registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The financial statements are presented in Sterling, which is the functional currency of the company.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

These financial statements have been prepared on a going concern basis. The company is dependant on the continued support from the directors and a third party creditor. The directors are of the opinion that this support will continue for the next 12 months from the date of approval of the financial statements.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.5

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

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PENTONVILLE 158 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

Debtors

					2022	2021
					£	£


Amounts owed by group undertakings	128,370	289,368
Other debtors	30,958	14,609
	159,328	303,977

5.	Cash and cash equivalents
		2022	2021
		£	£

Cash at bank and in hand	7,327	1,058
Less: bank overdrafts	-	(237)
	7,327	821

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PENTONVILLE 158 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

Bank overdrafts	-	237
Trade creditors	180,472	15,738
Amounts owed to group undertakings	238,309	237,298
Other creditors	4,742,259	4,742,259
Accruals and deferred income	15,128	79,325
	5,176,168	5,074,857

7.	Prior year adjustment

A prior year adjustment has been made to correctly reflect the loan creditors. The impact of this adjustment is an increase in creditors and a reduction in retained earnings.

8.	Controlling party

The immediate parent company is Pentonville Holdings Limited, a company incorporated in England and Wales.

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