Company Registration No. 07558601 (England and Wales)
PENN PARK CAPITAL MANAGEMENT LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
PENN PARK CAPITAL MANAGEMENT LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
PENN PARK CAPITAL MANAGEMENT LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Investments
2
1,592,107
1,547,541
Current assets
Debtors
3
45,257
44,798
Cash at bank and in hand
134,872
79,030
180,129
123,828
Creditors: amounts falling due within one year
(1,411,115)
(1,395,567)
Net current liabilities
(1,230,986)
(1,271,739)
Total assets less current liabilities
361,121
275,802
Capital and reserves
Called up share capital
4
10,000
10,000
Profit and loss account
351,121
265,802
Shareholders' funds
361,121
275,802
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 12 December 2016
Mr G Hall
Director
Company Registration No. 07558601
PENN PARK CAPITAL MANAGEMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 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 January 2015).
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 dividends receivable during the period.
1.4
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.
1.6
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Fixed assets
Investments
£
Cost
At 1 April 2015
1,547,540
Additions
131,618
Disposals
(87,051)
At 31 March 2016
1,592,107
At 31 March 2015
1,547,541
The market value of listed fixed asset investments as at 31 March 2016 was £1,822,293 (2015: £1,873,492).
3
Debtors
Debtors include an amount of £35,000 (2015 - £35,000) which is due after more than one year.
PENN PARK CAPITAL MANAGEMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
10,000 Ordinary 'A' shares of £1 each
10,000
10,000