PENTON_(UK)_LIMITED - Accounts

PENTON (U.K.) LIMITED - Company Information

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Company Registration No. 03291541 (England and Wales)

PENTON (UK) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

PENTON (UK) LIMITED

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

3 - 4

PENTON (UK) LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PENTON (UK) LIMITED FOR THE YEAR ENDED 31 MARCH 2014

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Penton (UK) Limited for the year ended 31 March 2014 which comprise the Profit and Loss Account, the Balance Sheet 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 Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Penton (UK) Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Penton (UK) Limited and state those matters that we have agreed to state to the Board of Directors of Penton (UK) Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Penton (UK) Limited and it's Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Penton (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Penton (UK) Limited. You consider that Penton (UK) Limited 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 financial statements of Penton (UK) Limited. 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 financial statements.

Carpenter Box

10 September 2014

Chartered Accountants

Amelia House

Crescent Road

Worthing

West Sussex

BN11 1QR

PENTON (UK) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 2 -

2014

2013

Notes

Fixed assets

Tangible assets

346,075

350,066

Current assets

Stocks

151,564

250,406

Debtors

539,614

443,176

Cash at bank and in hand

531,435

406,574

1,222,613

1,100,156

Creditors: amounts falling due within one year

(804,090)

(771,512)

Net current assets

418,523

328,644

Total assets less current liabilities

764,598

678,710

Provisions for liabilities

(2,100)

(2,300)

762,498

676,410

Capital and reserves

Called up share capital

1,050

Profit and loss account

761,448

675,360

Shareholders' funds

762,498

676,410

For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 5 September 2014

Mr K Tester

Director

Company Registration No. 03291541

PENTON (UK) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Revenue earned under contracts is recognised where a right to consideration has accrued by reference to the fair value of work done, reflecting any uncertainties as to outcome or recoverability. Revenue contingent on events outside the control of the business is recognised when the contingent event occurs.

Amounts recoverable on contracts are included in debtors, less foreseeable losses and amounts received as progress payments on account. Payments on account received in excess of revenue are included in creditors.

Costs attributable to revenue are included in cost of sales. Costs not attributable to revenue are included in work in progress.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Freehold Property

2% p.a straight line (building only)

Computer Development

33% p.a. straight line

Office Equipment

33% p.a. straight line

Furniture and Fittings

20% p.a. reducing balance

Motor Vehicles

25% p.a. reducing balance

1.4

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.5

Stock

Stock is valued at the lower of cost, including attributable overheads, and net realisable value, on a first in first out basis.

1.6

Pensions

The pension costs charged in the financial statements represent the contributions payable by the company during the year in accordance with FRSSE.

1.7

Foreign currency translation

Transactions in US dollars are translated into sterling at an internal rate of $1.50. Transactions in Euros are translated into sterling at an internal rate of €1.10. These rates are fixed for the accounting period and reviewed on an annual basis. Exchange differences are taken into account in arriving at the operating result.

Assets and liabilities denominated in a foreign currency on the Balance Sheet have been converted based on the rate applicable at the Balance Sheet date.

PENTON (UK) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 4 -

Fixed assets

Tangible assets

Cost

At 1 April 2013

434,855

Additions

28,617

Disposals

(56,365)

At 31 March 2014

407,107

Depreciation

At 1 April 2013

84,789

On disposals

(45,831)

Charge for the period

22,074

At 31 March 2014

61,032

Net book value

At 31 March 2014

346,075

At 31 March 2013

350,066

Share capital

2014

2013

Allotted, called up and fully paid

1,000 Ordinary shares of £1 each

1,000

50 'A' Ordinary shares of £1 each

1,050

Ultimate parent company

For the whole year the company was under the control of Penton (UK) Holdings Limited, the ultimate parent company, incorporated in England & Wales. Financial statements are available for this company from their registered office of Unit 2, Teville Industrials, Dominion Way, Worthing, West Sussex, BN14 8NW.

Penton (UK) Holdings Limited was not under the control of any one individual or entity.