Pan Property Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11478148 (England and Wales)

Unaudited Financial Statements

for the period

23rd July 2018 to 31st July 2019

for

PAN PROPERTY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Ann Helen Hawley

SECRETARY:

Noel Patrick Morris

REGISTERED OFFICE:

75 Horseshoe Crescent

Shoeburyness Garrison

Southend-on-Sea

Essex

SS3 9WL

REGISTERED NUMBER:

11478148 (England and Wales)

FIXED ASSETS

Investment property

3

281,954

CURRENT ASSETS

Cash at bank and in hand

1,963

CREDITORS

Amounts falling due within one year

4

285,849

NET CURRENT LIABILITIES

(283,886

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,932

)

CAPITAL AND RESERVES

Called up share capital

3

Retained earnings

(1,935

)

(1,932

)

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31st July 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director on 13th December 2019 and were signed by:

Ann Helen Hawley - Director

1.	STATUTORY INFORMATION

Pan Property 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 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.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Taxation

A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A

current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous

period. Deferred tax is recognised in respect of all timing differences between the recognition of income and

expenses in the financial statements and their inclusion in tax assessments . 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. Deferred tax is measured using the tax rates and

laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the

reversal of the timing difference, except for revalued land and investment property where the tax rate that applies

to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Provisions

Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the

reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the

obligation and the amount of the obligation can be estimated reliably.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment

losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price

including any transaction costs and subsequently measured at amortised cost determined using the effective

interest method, less any impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other

financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently

measured at amortised cost determined using the effective interest method.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

281,954

At 31st July 2019

281,954

NET BOOK VALUE

At 31st July 2019

281,954

Investment properties were valued on an open market basis on 31st July 2019 by the company directors.

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other creditors

285,849

5.	RELATED PARTY DISCLOSURES

As at the balance sheet date there were directors' current account balances totalling £90,957.