Penkenna Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02442970

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

PENKENNA LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

H J Cortis

Mrs C A Carroll

M P Cortis

SECRETARY:

M P Cortis

REGISTERED OFFICE:

Mobbs Miller House

Ardington Road

Northampton

Northamptonshire

NN1 5NE

REGISTERED NUMBER:

02442970

BANKERS:

HSBC

Northamptonshire Commercial Centre

St Clair House

5 Old Bedford Road

Northampton

Northamptonshire

NN4 7AA

FIXED ASSETS

Tangible assets

2

2,362,369

2,369,079

CURRENT ASSETS

Debtors

95,953

84,297

Cash at bank and in hand

69,537

59,066

165,490

143,363

CREDITORS

Amounts falling due within one year

3

251,911

241,328

NET CURRENT LIABILITIES

(86,421

)

(97,965

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,275,948

2,271,114

CREDITORS

Amounts falling due after more than one
year

3

199,142

218,208

NET ASSETS

2,076,806

2,052,906

CAPITAL AND RESERVES

Called up share capital

4

134,111

Share premium

1,757,951

Profit and loss account

184,744

160,844

SHAREHOLDERS' FUNDS

2,076,806

2,052,906

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 20 July 2016 and were signed on its behalf by:

H J Cortis - Director

M P Cortis - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

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

-

25% on cost

Motor vehicles

-

25% on cost

No depreciation is provided on freehold property because it is the company's practice to maintain the property in

a continual state of sound repair, with the result that its expected useful life is so long, and its residual value so

high, that its depreciation is insignificant.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date. No provision has been made as the amount is immaterial.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Rental income

Rental income is recognised on a straight-line basis over the period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

2,434,693

Additions

1,045

Disposals

(1,547

)

At 31 December 2015

2,434,191

DEPRECIATION

At 1 January 2015

65,614

Charge for year

7,755

Eliminated on disposal

(1,547

)

At 31 December 2015

71,822

NET BOOK VALUE

At 31 December 2015

2,362,369

At 31 December 2014

2,369,079

3.

CREDITORS

Creditors include an amount of £ 203,241 (2014 - £ 226,004 ) for which security has been given.

They also include the following debts falling due in more than five years:

2015

2014

£

Repayable otherwise than by instalments

14,551

Repayable by instalments

107,191

126,257

121,742

140,808

Details of shares shown as liabilities are as follows:

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

14,551

4.2% Cumulative Preference

£1

14,551

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

134,111

Ordinary

£1

134,111