Company Registration No. 08163090 (England and Wales)
Penmire Limited
Unaudited Abbreviated Financial Statements
For the year ended 31 December 2014
PENMIRE LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
PENMIRE LTD
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
69,465
61,200
Current assets
Debtors
678
2,036
Cash at bank and in hand
2,059
8,005
2,737
10,041
Creditors: amounts falling due within one year
(60,554)
(58,274)
Net current liabilities
(57,817)
(48,233)
Total assets less current liabilities
11,648
12,967
Creditors: amounts falling due after more than one year
(7,467)
(9,934)
Provisions for liabilities
(4,849)
(5,613)
(668)
(2,580)
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
(670)
(2,582)
Shareholders' funds
(668)
(2,580)
For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 23 March 2015
Mr B J Beddoes
Mr P W Beddoes
Director
Director
Company Registration No. 08163090
PENMIRE LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
- 2 -
1
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 April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
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 held under HP
10% on cost
Motor vehicles
15% reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2014
68,000
Additions
17,725
At 31 December 2014
85,725
Depreciation
At 1 January 2014
6,800
Charge for the year
9,460
At 31 December 2014
16,260
Net book value
At 31 December 2014
69,465
At 31 December 2013
61,200
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
2 Ordinary of £1 each
2
2
PENMIRE LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 3 -
4
Related party relationships and transactions
Directors loans
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
B J Beddoes
Loan
-
(27,649)
-
-
-
(27,649)
P W Beddoes
Loan
-
(27,649)
-
-
-
(27,649)
(55,298)
-
-
-
(55,298)
2014-12-312014-01-01falsetruetruetruetruetruetmp20E1.html2015-04-13081630902014-01-012014-12-31081630902014-12-31081630902013-12-31081630902013-12-3108163090uk-bus:Director12014-01-012014-12-3108163090uk-bus:Director22014-01-012014-12-3108163090uk-gaap:PlantMachinery2014-01-012014-12-3108163090uk-gaap:MotorVehicles2014-01-012014-12-3108163090uk-bus:OrdinaryShareClass12014-01-012014-12-3108163090uk-bus:OrdinaryShareClass12014-12-3108163090uk-bus:OrdinaryShareClass12013-12-31xbrli:purexbrli:sharesiso4217:GBP

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