PENNYHOME_MANAGEMENT_LTD - Accounts

PENNYHOME MANAGEMENT LIMITED - Company Information

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Company Registration No. 03723434 (England and Wales)

PENNYHOME MANAGEMENT LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2016

PENNYHOME MANAGEMENT LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PENNYHOME MANAGEMENT LTD

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

3,140

4,353

Tangible assets

11,633

13,320

14,773

17,673

Current assets

Stocks

24,516

29,282

Debtors

56,342

237,141

Cash at bank and in hand

302,902

161,152

383,760

427,575

Creditors: amounts falling due within one year

(93,192)

(117,677)

Net current assets

290,568

309,898

Total assets less current liabilities

305,341

327,571

Capital and reserves

Called up share capital

300

Profit and loss account

305,041

327,271

Shareholders' funds

305,341

327,571

For the financial year ended 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 10 May 2017

Mr G McGuinness

Director

Company Registration No. 03723434

PENNYHOME MANAGEMENT LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

- 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

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets 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:

Plant and machinery

15% Reducing balance method

Computer equipment

Staight line over 3 years

Fixtures, fittings & equipment

15% Reducing balance method

1.5

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 liabilities.

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 September 2015

24,269

55,249

79,518

Additions

561

At 31 August 2016

24,269

55,810

80,079

Depreciation

At 1 September 2015

19,916

41,929

61,845

Charge for the year

1,213

2,248

3,461

At 31 August 2016

21,129

44,177

65,306

Net book value

At 31 August 2016

3,140

11,633

14,773

At 31 August 2015

4,353

13,320

17,673

PENNYHOME MANAGEMENT LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary Shares of £1 each

100

100 'A' Shares of £1 each

100

100 'B' Shares of £1 each

100

300