Pantelli Associates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04609256 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

PANTELLI ASSOCIATES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr A Pantelli

Mrs M Pantelli

SECRETARY:

Mrs M Pantelli

REGISTERED OFFICE:

c/o Michael Filiou Ltd

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

REGISTERED NUMBER:

04609256 (England and Wales)

ACCOUNTANTS:

Michael Filiou Ltd

Chartered Certified Accountants

www.michaelfiliou.com

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

FIXED ASSETS

Tangible assets

4

12,553

46,310

CURRENT ASSETS

Debtors

1,273,410

1,246,266

Cash at bank and in hand

230,999

69,800

1,504,409

1,316,066

CREDITORS

Amounts falling due within one year

215,442

202,487

NET CURRENT ASSETS

1,288,967

1,113,579

TOTAL ASSETS LESS CURRENT LIABILITIES

1,301,520

1,159,889

CAPITAL AND RESERVES

Called up share capital

5

5,000

5,000

Retained earnings

1,296,520

1,154,889

SHAREHOLDERS' FUNDS

1,301,520

1,159,889

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2019 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 31 October 2019 and were signed on its behalf by:

Mr A Pantelli - Director

1.	STATUTORY INFORMATION

Pantelli Associates 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.

2.	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.

These financial statements for the year ended 31 March 2017 are the first financial statements of Pantelli

Associates Limited that comply with the provisions of Section 1A of FRS 102. The date of transition to FRS 102

is 1 April 2015.

The transition to FRS 102 has not resulted in any changes in accounting policies compared to those used

previously.

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 & fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2018 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

341,153

Additions

3,313

Disposals

(320,213

)

At 31 March 2019

24,253

DEPRECIATION

At 1 April 2018

294,843

Charge for year

4,184

Eliminated on disposal

(287,327

)

At 31 March 2019

11,700

NET BOOK VALUE

At 31 March 2019

12,553

At 31 March 2018

46,310

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

5,000

Ordinary

£1

5,000

5,000

6.	RELATED PARTY DISCLOSURES

Pantelli Investments Limited

The company is controlled by the director and his wife who between them control 100 percent of the issued share

capital.

At the balance sheet date, the amount due from Pantelli Investments Limited was £707,327 (2018 - 652,327).

Pantelli Consultants Limited

The company is controlled by the director Mr A Pantelli by virtue of the fact that he owns 70% of the issued

share capital as at the balance sheet date.

As at the balance sheet date, the amount due from Pantelli Consultants Limited was £104,383 (2018: £129,584)

During the year management charges totalling Nil (2018:£195,736) were issued to Pantelli Consultants Limited

for services provided. These transactions were undertaken on an open market basis.

7.	ULTIMATE CONTROLLING PARTY

The controlling party is the director, Mr A Pantelli, and his wife, Mrs M Pantelli.