Pact Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10627021 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2019

for

Pact Investments Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs Kavita Hemang Nathwani

Mr Hemang Vinaylal Nathwani

REGISTERED OFFICE:

24 Hillcrest Avenue

Edgware

Middlesex

HA8 8PA

REGISTERED NUMBER:

10627021 (England and Wales)

ACCOUNTANTS:

Capitax Financial Limited

Devonshire House

582 Honeypot Lane

Stanmore

Middlesex

HA7 1JS

CURRENT ASSETS

Investments

2

160,000

50,000

Cash at bank

55

-

160,055

50,000

CREDITORS

Amounts falling due within one year

3

149,767

38,853

NET CURRENT ASSETS

10,288

11,147

TOTAL ASSETS LESS CURRENT LIABILITIES

10,288

11,147

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

10,188

11,047

10,288

11,147

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2019 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 19 April 2019 and were signed on its behalf by:

Mr Hemang Vinaylal Nathwani - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

2.	CURRENT ASSET INVESTMENTS

28.2.19

28.2.18

£

£

Other

160,000

50,000

3.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.19

28.2.18

£

£

Taxation and social security

-

2,610

Other creditors

149,767

36,243

149,767

38,853

As at 28 February 2019 Pact Investments Ltd has received two interest free loans of £60,000 and £50,000 from two related

companies, Keyzone Computer Ltd and Trakker Solutions Ltd respectively. The loans are payable on demand and have

been accounted for under Creditors - Amounts Falling due within less than one year.

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 28 February 2019, Pact Investments Ltd owed £38,943.00 to its director. This amount is reflected accordingly in the

director's loan accounts in credit balances, which is shown under Creditors due within one year. Please be advised that the

director has agreed to provide this loan on an interest free basis and the loan is payable on demand.