C. C. Panayi & Co LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC344724 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

C. C. Panayi & Co LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr C Panayi

Ms E Panayi

Miss E Charalambous

REGISTERED OFFICE:

Ground Floor

31 Kentish Town Road

London

NW1 8NL

REGISTERED NUMBER:

OC344724 (England and Wales)

FIXED ASSETS

Tangible assets

4

1,891,900

1,910,950

CURRENT ASSETS

Debtors

5

235,740

329,657

Cash at bank and in hand

159,799

129,768

395,539

459,425

CREDITORS

Amounts falling due within one year

6

181,763

319,503

NET CURRENT ASSETS

213,776

139,922

TOTAL ASSETS LESS CURRENT LIABILITIES

2,105,676

2,050,872

CREDITORS

Amounts falling due after more than one year

7

1,737,754

1,717,754

NET ASSETS ATTRIBUTABLE TO MEMBERS

367,922

333,118

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

367,922

333,118

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

367,922

333,118

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2020.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 26 February 2021 and were signed by:

Ms E Panayi - Designated member

Miss E Charalambous - Designated member

1.	STATUTORY INFORMATION

C. C. Panayi & Co LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents rent receivable for the period.

Financial instruments

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade debtors are assessed for impairment at the end of each reporting period and amounts impaired are deducted and charged to the Profit and Loss Account.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised costs using the effective interest method unless the effect of discounting would be immaterial in which case they are stated at cost.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2019 - 21 ).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 April 2019

and 31 March 2020

1,950,000

DEPRECIATION

At 1 April 2019

39,050

Charge for year

19,050

At 31 March 2020

58,100

NET BOOK VALUE

At 31 March 2020

1,891,900

At 31 March 2019

1,910,950

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

222,055

99,512

Other debtors

13,685

230,145

235,740

329,657

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans and overdrafts

28,058

80,581

Trade creditors

15,278

47,255

Taxation and social security

7,717

20,167

Other creditors

130,710

171,500

181,763

319,503

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans

1,737,754

1,717,754

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,293,754

1,345,754

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.20

31.3.19

£

£

Bank loans

1,765,754

1,765,754

The bank loan is secured by way of a fixed and floating charge over the property owned by the LLP and by personal securities given by the partners.

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with debts due to unsecured creditors in the event of a winding up.