Penhale Homes Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07153573 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2018

for

Penhale Homes Ltd

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

K R Skinner

R G Skinner

REGISTERED OFFICE:

4 Tregarne Terrace

St Austell

Cornwall

PL25 4BE

REGISTERED NUMBER:

07153573 (England and Wales)

FIXED ASSETS

Tangible assets

4

13,174

17,566

CURRENT ASSETS

Stocks

-

86,087

Debtors

531,249

201,657

Cash at bank

5,257

153,519

536,506

441,263

CREDITORS

Amounts falling due within one year

276,991

120,307

NET CURRENT ASSETS

259,515

320,956

TOTAL ASSETS LESS CURRENT LIABILITIES

272,689

338,522

PROVISIONS FOR LIABILITIES

2,503

3,513

NET ASSETS

270,186

335,009

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

270,086

334,909

SHAREHOLDERS' FUNDS

270,186

335,009

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 6 December 2018 and were signed on its behalf by:

K R Skinner - Director

1.	STATUTORY INFORMATION

Penhale Homes Ltd 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

Turnover represents net amounts invoiced by the company in respect of services provided during the period

excluding value added tax. Turnover is wholly attributable to the company's main activity and arises entirely in

the UK.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks and work-in-progress are valued at the lower of cost and net realisable value.

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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

Investment

Investments are valued at the lower of cost or net realisable value.

Assets are regularly reviewed for any indications of impairment. Where there are such indications appropriate

provision is made to bring carrying value down to net realisable value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

and 31 March 2018

23,650

DEPRECIATION

At 1 April 2017

6,084

Charge for year

4,392

At 31 March 2018

10,476

NET BOOK VALUE

At 31 March 2018

13,174

At 31 March 2017

17,566

5.	RELATED PARTY DISCLOSURES

CUBENET LIMITED

During the year ended 31st March 2018, the company received £84 (2017: £Nil) management charges from

Cubenet Limited, company 100% controlled by K R Skinner, director.