Pang Investments Limited - Limited company - abbreviated

REGISTERED NUMBER: 02798616 (England and Wales)

Pang Investments Limited

Abbreviated Unaudited Accounts for the Year Ended 31 October 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

A M Pang

SECRETARY:

M A Pang

REGISTERED OFFICE:

4 King Square

Bridgwater

Somerset

TA6 3YF

REGISTERED NUMBER:

02798616 (England and Wales)

ACCOUNTANTS:

Maxwells

Chartered Accountants

4 King Square

Bridgwater

Somerset

TA6 3YF

BANKERS:

HSBC Bank plc

46 Fore Street

Trowbridge

Wiltshire

BA14 8EL

FIXED ASSETS

Tangible assets

2

4,471,115

4,471,321

Investments

3

1,744,760

6,215,875

6,216,081

CURRENT ASSETS

Debtors

4

127,088

584,058

Investments

2,889

Cash at bank

90,531

77,871

220,508

664,818

CREDITORS

Amounts falling due within one year

5

683,339

718,409

NET CURRENT LIABILITIES

(462,831

)

(53,591

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

5,753,044

6,162,490

CREDITORS

Amounts falling due after more than one
year

5

2,533,188

2,839,666

NET ASSETS

3,219,856

3,322,824

CAPITAL AND RESERVES

Called up share capital

6

1,000

Revaluation reserve

2,273,722

Profit and loss account

945,134

1,048,102

SHAREHOLDERS' FUNDS

3,219,856

3,322,824

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 29 May 2015 and were signed by:

A M Pang - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with applicable accounting standards and estimation

techniques.

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the valuation of

properties held for investments. Compliance with Statement of Standard Accounting Practice Number 19 (SSAP

19) - Accounting for Investment Properties requires departure from the requirement of the Companies Act 2006

relating to depreciation as explained below.

Financial reporting standard number 1

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

In accordance with Statement of Standard Accounting Practice Number 19, no depreciation is provided on

investment properties. This departure from the requirements of the Companies Act 2006, for all properties to be

depreciated is, in the opinion of the directors, necessary for the financial statements to give a true and fair view in

accordance with applicable accounting standards, as properties are included at their open market value.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 November 2013

and 31 October 2014

4,473,727

DEPRECIATION

At 1 November 2013

2,406

Charge for year

206

At 31 October 2014

2,612

NET BOOK VALUE

At 31 October 2014

4,471,115

At 31 October 2013

4,471,321

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 November 2013

and 31 October 2014

1,744,760

NET BOOK VALUE

At 31 October 2014

1,744,760

At 31 October 2013

1,744,760

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 0 (31.10.13 - £ 415,951 )

5.

CREDITORS

Creditors include an amount of £ 2,772,518 (31.10.13 - £ 3,014,752 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.10.14

31.10.13

£

Repayable by instalments

1,639,596

2,197,210

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.14

31.10.13

value:

£

500

Ordinary

£1

500

'A' Ordinary

£1

500

1,000

The Ordinary shares and 'A' Ordinary shares rank pari passu in all respects except the company may, upon the

recommendations of the directors, declare separate dividends in respect of the Ordinary shares and the 'A'

Ordinary shares and the amounts of dividend declared need not bear any relationship to the respective amounts

of issued or paid up capital of the two classes.

Pang Investments Limited - Limited company - abbreviated - 11.6

Pang Investments Limited - Limited company - abbreviated - 11.6