Penn Clark Interiors Ltd - Accounts

Penn Clark Interiors Ltd - Accounts

PENN CLARK INTERIORS LTD - Company Information

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Registered Number: 07767776
England

 

 

 


Amended Abridged Accounts

for the year ended 31 March 2023

for

PENN CLARK INTERIORS LTD

Penn Clark Interiors Ltd
Contents Page
For the year ended 31 March 2023
Report to the directors on the preparation of the unaudited statutory accounts of Penn Clark Interiors Ltd for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Penn Clark Interiors Ltd for the year ended 31 March 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Penn Clark Interiors Ltd, as a body, in accordance with the terms of our engagement letter dated 01 April 2022 Our work has been undertaken solely to prepare for your approval the accounts of Penn Clark Interiors Ltd and state those matters that we have agreed to state to the Board of Directors of Penn Clark Interiors Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Penn Clark Interiors Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Penn Clark Interiors Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Penn Clark Interiors Ltd. You consider that Penn Clark Interiors Ltd is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of Penn Clark Interiors Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 March 2023



....................................................
The Z Squared Group Ltd
Riverdale House
21a High Street
Wheathampstead
Hertfordshire
AL4 8BB
03 January 2024
1
 
 		 Notes
 		 2023
£		   2022
£
Fixed assets      
Tangible fixed assets 3 5,134    5,435 
5,134    5,435 
Current assets      
Stocks 6,580    0 
Debtors: amounts falling due within one year 83,506    121,366 
Cash at bank and in hand (5,233)   24,774 
84,853    146,140 
Creditors: amount falling due within one year (33,680)   (66,170)
Net current assets 51,173    79,970 
 
Total assets less current liabilities 56,307    85,405 
Creditors: amount falling due after more than one year (270)   0 
Accruals and deferred income 0    (30,000)
Provisions for liabilities (975)   0 
Net assets 55,062    55,405 
 

Capital and reserves 		     
Called up share capital 4 100    100 
Profit and loss account 54,962    55,305 
Shareholder's funds 55,062    55,405 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 03 January 2024 and were signed on its behalf by:


-------------------------------
Mrs J Penn Clark
Director
2
General Information
Penn Clark Interiors Ltd is a private company, limited by shares, registered in England, registration number 07767776, registration address Riverdale House, 21a High Street, Wheathampstead, Hertfordshire, AL4 8BB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 4 (2022 : 4).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 April 2022 13,042    8,955    -    21,997 
Additions -    -    1,237    1,237 
Disposals -    -    -    - 
At 31 March 2023 13,042    8,955    1,237    23,234 
Depreciation
At 01 April 2022 8,915    7,647    -    16,562 
Charge for year 1,032    327    179    1,538 
On disposals -    -    -    - 
At 31 March 2023 9,947    7,974    179    18,100 
Net book values
Closing balance as at 31 March 2023 3,095    981    1,058    5,134 
Opening balance as at 01 April 2022 4,127    1,308    -    5,435 


4.

Share Capital

Allotted, called up and fully paid
2023
£		   2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

3