PENNINGTON_INVESTMENTS_LI - Accounts

PENNINGTON INVESTMENTS LIMITED - Company Information

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Company Registration No. 00474956 (England and Wales)

PENNINGTON INVESTMENTS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

PENNINGTON INVESTMENTS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 4

PENNINGTON INVESTMENTS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Investments

232,902

222,846

Current assets

Debtors

4,951

Cash at bank and in hand

43,300

50,284

48,251

55,235

Creditors: amounts falling due within one year

(151,712)

(111,346)

Net current liabilities

(103,461)

(56,111)

Total assets less current liabilities

129,441

166,735

Capital and reserves

Called up share capital

12,225

Profit and loss account

117,216

154,510

Shareholders' funds

129,441

166,735

For the financial year ended 31 December 2015 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 22 September 2016

C R Archer

P E Campbell

Director

Company Registration No. 00474956

PENNINGTON INVESTMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

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 January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents dividend income receivable in the year.

1.4

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.5

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.6

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

1.7

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

1.8

Dividend Income

Dividends from United Kingdom companies are shown net of the relevant tax credit. Income subject to withholding taxes is shown gross, and the relevant tax is included in the tax charge.

PENNINGTON INVESTMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Fixed assets

Investments

Cost

At 1 January 2015

222,846

Additions

25,425

Revaluation

(2,540)

Disposals

(12,829)

At 31 December 2015

232,902

At 31 December 2014

222,846

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Gerhardt Pharmaceuticals Limited

Ordinary

100.00

Mistbirn Investment Co. Limited (Group)

Ordinary

50.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2015

Principal activity

Gerhardt Pharmaceuticals Limited

The distribution of pharmaceutical products

(204,880)

(11,509)

Mistbirn Investment Co. Limited (Group)

Investment company

140,873

228

The company holds 50% of the ordinary share capital of Mistbirn Investment Co. Limited, which has two wholly owned subsidiary undertakings, Alpina Property Co. Limited and Fresh 'N Dainty Cosmetics Limited. All these companies were incorporated in Great Britain. The accounting reference date of these companies is 28th February.

The principal activity of Alpina Property Co. Limited during the year was the holding of property. Fresh 'N Dainty Cosmetics Limited and Mistbirn Investment Co. Limited were dormant during the year.

PENNINGTON INVESTMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 4 -

Share capital

2015

2014

Allotted, called up and fully paid

24,450 Ordinary shares of 50p each

12,225