Pentel Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04151961 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

PENTEL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms E C Turner

REGISTERED OFFICE:

61 Station Road

Sudbury

Suffolk

CO10 2SP

REGISTERED NUMBER:

04151961 (England and Wales)

ACCOUNTANTS:

Seago and Stopps

Chartered Certified Accountants

61 Station Road

Sudbury

Suffolk

CO10 2SP

FIXED ASSETS

3,942,008

Tangible assets

4

4,184,908

CURRENT ASSETS

613

Debtors

5

2,708

15,578

Cash at bank and in hand

7,605

16,191

10,313

CREDITORS

1,325,536

Amounts falling due within one year

6

1,319,076

(1,309,345

)

NET CURRENT LIABILITIES

(1,308,763

)

2,632,663

TOTAL ASSETS LESS CURRENT LIABILITIES

2,876,145

CREDITORS

(1,168,787

)

Amounts falling due after more than one year

7

(1,362,206

)

(1,102

)

PROVISIONS FOR LIABILITIES

(890

)

1,462,774

NET ASSETS

1,513,049

CAPITAL AND RESERVES

50

Called up share capital

9

50

1,447,385

Property revaluation

10

1,447,385

15,339

Retained earnings

65,614

1,462,774

SHAREHOLDERS' FUNDS

1,513,049

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 7 August 2018 and were signed by:

Ms E C Turner - Director

1.	STATUTORY INFORMATION

Pentel 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

In accordance with FRS 102 Section 1A, freehold property is revalued annually at fair value.

Where the current fair value of a property is below its original cost any surplus or deficit on

revaluation is transferred to the profit and loss account.

Where the current fair value of a property is in excess of its original cost, any surplus or deficit on

revaluation is transferred to the revaluation reserve.

No depreciation is provided in respect of freehold property.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Totals

property

fittings

£

£

£

COST OR VALUATION

At 1 January 2017

3,996,276

3,936,500

59,776

Additions

243,726

243,726

-

At 31 December 2017

4,240,002

4,180,226

59,776

DEPRECIATION

At 1 January 2017

54,268

-

54,268

Charge for year

826

-

826

At 31 December 2017

55,094

-

55,094

NET BOOK VALUE

At 31 December 2017

4,184,908

4,180,226

4,682

At 31 December 2016

3,942,008

3,936,500

5,508

Cost or valuation at 31 December 2017 is represented by:

Fixtures

Freehold

and

Totals

property

fittings

£

£

£

Valuation in 2009

488,615

488,615

-

Valuation in 2010

160,000

160,000

-

Valuation in 2011

85,000

85,000

-

Valuation in 2012

500,000

500,000

-

Valuation in 2013

290,000

290,000

-

Valuation in 2015

385,000

385,000

-

Valuation in 2016

166,500

166,500

-

Cost

2,164,887

2,105,111

59,776

4,240,002

4,180,226

59,776

If the properties had not been revalued they would have been included at the following historical

cost:

31.12.17

31.12.16

£

£

Cost

2,105,111

1,861,385

The properties were valued on at fair value basis on 31 December 2017 by By Choice Estate Agents Limited (RICS)

.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Other debtors

2,708

613

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans and overdrafts

36,523

31,213

Taxation and social security

12,129

11,587

Other creditors

1,270,424

1,282,736

1,319,076

1,325,536

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans

1,362,206

1,168,787

31.12.17

31.12.16

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,216,113

1,043,935

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.17

31.12.16

£

£

Bank loans

1,398,729

1,200,000

Lloyds Bank hold a debenture dated 20th December 2016 and fixed and floating charges over all of

the company's property.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.17

31.12.16

value:

£

£

50

Ordinary 'B' shares

£1

50

50

10.	PROPERTY REVALUATION

Property

revaluation

£

At 1 January 2017

and 31 December 2017

1,447,385