Accounts filed on 31-12-2013

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			Company registration number:05687518
			PENQUITE MARKETING LTD
			ABBREVIATED FINANCIAL STATEMENTS
			FOR THE YEAR ENDED 31 December 2013

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PENQUITE MARKETING LTD
BALANCE SHEET
AS AT 31 December 2013
			2013				2012
		Notes	£		£		£		£
FIXED ASSETS
Intangible assets		2			15,105				16,355
Tangible assets		3			1,198				1,109
					16,303				17,464
CURRENT ASSETS
Stocks			1,000				1,015
Debtors			4,171				2,747
Cash at bank and in hand			2,234				6,475
			7,405				10,237
CREDITORS
Amounts falling due within one year			(18,696)				(17,614)
NET CURRENT ASSETS					(11,291)				(7,377)
TOTAL ASSETS LESS
CURRENT LIABILITIES					5,012				10,087
NET ASSETS					5,012				10,087
CAPITAL AND RESERVES
Called-up equity share capital		4			100				100
Profit and loss account					4,912				9,987
SHAREHOLDERS FUNDS					5,012				10,087
For the year ending 31 December 2013 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
These financial statements have been prepared in accordance with the special provisions relating to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). Approved by the board of directors on 13 September 2014 and signed on its behalf.
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P E Styles
13 September 2014

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PENQUITE MARKETING LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2013

1.

Accounting policies

Basis of preparing the financial statements

The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Intangible assets

Goodwill is the difference between the amount paid on the acquisition of a business and the aggregate fair value of its separable net assets. It is being written off in equal annual instalments over its estimated economic life.

Fixed assets

Tangible fixed assets are stated at cost less depreciation Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over thei expected useful lives on the following bases:

Plant and Machinery - 25% reducing balance basis

Fixtures and Fittings - 25% reducing balance basis

Stocks and work In progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.

2.	Intangible fixed assets
				Total
	Cost
	At start of period			25,000
	At end of period			25,000
	Amortisation
	At start of period			8,645
	Provided during the period			1,250
	At end of period			9,895
	Net Book Values
	At start of period			16,355
	At end of period			15,105

3.	Tangible fixed assets
				Total
	Cost
	At start of period			5,568
	Additions			488
	At end of period			6,056
	Depreciation
	At start of period			4,459
	Provided during the period			399
	At end of period			4,858
	Net Book Value
	At start of period			1,109
	At end of period			1,198

4.	Share capital				Allotted, issued and fully paid
					2013	2012
					£	£
	Ordinary shares of £1 each				100	100
	Total issued share capital				100	100
5.	Ultimate controlling party
	The company is controlled by Mr P E Styles by virtue of his 51% shareholding.