Pennar Properties Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09398950

PENNAR PROPERTIES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 FEBRUARY 2016 TO 30 JUNE 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

A L G Jones

Mrs V A Jones

C G C Maggs-Jones

REGISTERED OFFICE:

Stephens and George

Goat Mill Road, Dowlais

Merthyr Tydfil

Rhondda Cynon Taff

CF48 3TD

REGISTERED NUMBER:

09398950

ACCOUNTANTS:

Bevan & Buckland

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

FIXED ASSETS

Investment property

3

368,832

368,832

CURRENT ASSETS

Debtors

4

1,466

724

Cash at bank

11,987

6,004

13,453

6,728

CREDITORS

Amounts falling due within one year

5

314,077

286,971

NET CURRENT LIABILITIES

(300,624

)

(280,243

)

TOTAL ASSETS LESS CURRENT LIABILITIES

68,208

88,589

CREDITORS

Amounts falling due after more than one year

6

72,802

85,662

NET (LIABILITIES)/ASSETS

(4,594

)

2,927

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(4,694

)

2,827

SHAREHOLDERS' FUNDS

(4,594

)

2,927

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 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 5 December 2017 and were signed on its behalf by:

A L G Jones - Director

1.	STATUTORY INFORMATION

Pennar Properties Ltd is a private company, limited by shares , registered in Not specified/Other. 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.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

In accordance with Statement of Standard Accounting Practice No. 19, no depreciation has been

charged on freehold investment property. This is a departure from the requirements of the Companies

Act 2006 which requires all properties to be depreciated. The properties are not held for consumption

but for investment and the directors consider to depreciate it would not give a true and fair view.

Depreciation is only one factor amongst many, reflected in the regular valuation of properties and

accordingly the amount of depreciation which might otherwise have been charged cannot be

separately identified and quantified. The directors consider that this policy results in the accounts

giving a true and fair view.

Taxation

Taxation for the period 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 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 period 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.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2016

and 30 June 2017

368,832

NET BOOK VALUE

At 30 June 2017

368,832

At 31 January 2016

368,832

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

500

500

Other debtors

966

224

1,466

724

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

-

707

Other creditors

314,077

286,264

314,077

286,971

Included in other creditors is monies owed to Mr A L G Jones - £69,452, Mrs V Jones - £69,452, C

Maggs-Jones - £46,301, I M Jones - £46,301 and V A Jones (held in trust) - £46,301, directors and

shareholders of the company.

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

72,802

85,662

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

72,802

85,662

7.	RELATED PARTY DISCLOSURES

The company has a loan outstanding at the year end to Stephens & George Ltd a company controlled

by ALG Jones & V Jones in the amount of £108,271. Interest is being charged at market rates.

8.	ULTIMATE CONTROLLING PARTY

Mrs V Jones is considered to be the ultimate controlling party by virtue of her majority holding of the

issued share capital of the company.

9.	GOING CONCERN

The accounts have been prepared on the going concern basis, on the understanding that the directors

and shareholders will continue to financially support the company for a period of 12 months from the

date of these financial statements. This support will be reviewed at that time.

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Directors are not required to be filed with the

Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Pennar Properties Ltd for the period ended 30 June 2017 which comprise the

Income Statement, Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Pennar Properties Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pennar Properties Ltd and state those matters that we have agreed to state to the Board of Directors of Pennar Properties Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pennar Properties Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Pennar Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Pennar Properties Ltd. You consider that Pennar Properties Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Pennar Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Bevan & Buckland

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

Date: .............................................