Penta Residential Lettings Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: 03318732 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Penta Residential Lettings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs R N Mack

Mrs P M Stickells

SECRETARY:

Mr R J Stickells

REGISTERED OFFICE:

66 Stormore

Dilton Marsh

Westbury

Wiltshire

BA13 4BH

REGISTERED NUMBER:

03318732 (England and Wales)

ACCOUNTANTS:

Moore Stephens

Chartered Accountants

30 Gay Street

Bath

BA1 2PA

FIXED ASSETS

Investment property

4

232,710

227,000

CURRENT ASSETS

Debtors

5

1,210

6,511

Cash at bank

3,353

75,546

4,563

82,057

CREDITORS

Amounts falling due within one year

6

1,451

38,007

NET CURRENT ASSETS

3,112

44,050

TOTAL ASSETS LESS CURRENT LIABILITIES

235,822

271,050

CAPITAL AND RESERVES

Called up share capital

7

2

2

Revaluation reserve

8

120,000

120,000

Retained earnings

8

115,820

151,048

SHAREHOLDERS' FUNDS

235,822

271,050

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 4 May 2017 and were signed on its behalf by:

Mrs P M Stickells - Director

1.	STATUTORY INFORMATION

Penta Residential Lettings Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the

Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

The turnover shown in the profit and loss account represents rents due during the year.

Investment property

In accordance with Financial Reporting Standard for Smaller Entities (effective April 2008) no

depreciation or amortisation is provided in respect of freehold properties.

The Company's investment property is shown at open market value. Changes in the open market

value of the property are taken to the revaluation reserve. Where revaluation is less than cost and is

considered to be permanent in nature., the shortfall is charged to the profit and loss account. Where

the fall in value is considered to be temporary, and adjustment is taken to the revaluation reserve.

Acquisition and disposal of property is considered to have taken place where, by the end of the

accounting period, there is a legally binding, unconditional, irrevocable contract.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive income

or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have

been enacted or substantively enacted by the balance sheet date.

Deferred tax

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

at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity

instrument is any contract that evidences a residual interest in the assets of the company after

deducting all of its financial liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2016

227,000

Additions

5,710

At 31 March 2017

232,710

NET BOOK VALUE

At 31 March 2017

232,710

At 31 March 2016

227,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

1,210

1,172

Other debtors

-

5,339

1,210

6,511

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Taxation and social security

-

2,806

Other creditors

1,451

35,201

1,451

38,007

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

2

Ordinary

£1

2

2

8.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 April 2016

151,048

120,000

271,048

Deficit for the year

(35,228

)

(35,228

)

At 31 March 2017

115,820

120,000

235,820

9.	RELATED PARTY DISCLOSURES

The husbands of the directors have lent monies to the company. At the year end £Nil (2016:

£16,873) was owed to Mr A Mack and £Nil (2016: £16,873) was owed to Mr R Stickells. The loans

are unsecured with no fixed repayment terms.