Company Registration No. 4881596 (England and Wales)
PENNY LANCASTER LTD
Unaudited accounts
for the year ended 31 August 2017
PENNY LANCASTER LTD
Unaudited accounts
Contents
PENNY LANCASTER LTD
Company Information
for the year ended 31 August 2017
Director
P LANCASTER-STEWART
Company Number
4881596 (England and Wales)
Registered Office
610 WESTCLIFFE APARTMENTS
WEST END QUAY
1 SOUTH WHARF ROAD
LONDON
W2 1JB
Accountants
RAYMOND GRITZ & CO
610 Westcliffe Apartments
1 South Wharf Road
London
W2 1JB
PENNY LANCASTER LTD
Statement of financial position
as at 31 August 2017
Tangible assets
601,086
600
Cash at bank and in hand
518,584
1,022,583
Creditors: amounts falling due within one year
(145,455)
(111,532)
Net current assets
373,129
968,001
Net assets
974,215
968,601
Called up share capital
100
100
Profit and loss account
974,115
968,501
Shareholders' funds
974,215
968,601
For the year ending 31 August 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 27 February 2018.
P LANCASTER-STEWART
Director
Company Registration No. 4881596
PENNY LANCASTER LTD
Notes to the Accounts
for the year ended 31 August 2017
PENNY LANCASTER LTD is a private company, limited by shares, registered in England and Wales, registration number 4881596. The registered office is 610 WESTCLIFFE APARTMENTS, WEST END QUAY, 1 SOUTH WHARF ROAD, LONDON, W2 1JB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 August 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 September 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
PENNY LANCASTER LTD
Notes to the Accounts
for the year ended 31 August 2017
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 September 2016
-
4,851
4,851
Additions
600,686
-
600,686
At 31 August 2017
600,686
4,851
605,537
At 1 September 2016
-
4,251
4,251
Charge for the year
-
200
200
At 31 August 2017
-
4,451
4,451
At 31 August 2017
600,686
400
601,086
At 31 August 2016
-
600
600
6
Creditors: amounts falling due within one year
2017
2016
Taxes and social security
6,300
9,800
Other creditors
139,155
101,732
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
8
Average number of employees
During the year the average number of employees was 1 (2016: 1).