Panache Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01566516 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2021

for

Panache Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A S Juneja

N S Juneja

REGISTERED OFFICE:

4 Somerset Way

Iver

Buckinghamshire

SL0 9AF

REGISTERED NUMBER:

01566516 (England and Wales)

ACCOUNTANTS:

KSG Accountants Ltd

4 Somerset Way

Iver

Buckinghamshire

SL0 9AF

FIXED ASSETS

Tangible assets

4

2,181,093

2,150,605

CURRENT ASSETS

Debtors

5

58,454

38,056

Cash at bank

17,334

18,243

75,788

56,299

CREDITORS

Amounts falling due within one year

6

186,304

189,112

NET CURRENT LIABILITIES

(110,516

)

(132,813

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,070,577

2,017,792

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,070,477

2,017,692

2,070,577

2,017,792

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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.

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 and authorised for issue on 31 August 2021 and were signed on its behalf by:

A S Juneja - Director

1.	STATUTORY INFORMATION

Panache Properties 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.

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.

Plant and machinery etc

-

25% on reducing balance and 15% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 July 2020

2,148,144

45,205

2,193,349

Additions

-

32,740

32,740

At 30 June 2021

2,148,144

77,945

2,226,089

DEPRECIATION

At 1 July 2020

-

42,744

42,744

Charge for year

-

2,252

2,252

At 30 June 2021

-

44,996

44,996

NET BOOK VALUE

At 30 June 2021

2,148,144

32,949

2,181,093

At 30 June 2020

2,148,144

2,461

2,150,605

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Other debtors

58,454

38,056

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Taxation and social security

5,708

11,144

Other creditors

180,596

177,968

186,304

189,112

7.	RELATED PARTY DISCLOSURES

As at 30 June 2021 the company was owed £2,936 by Harmony Properties Limited, (2020-

£2,936), £33,900 by Harmony Securities Limited, (2020 - £33,900) and £21,618 by Iwonco Limited (2020 - £1,220).

As at 30 June 2021 the company owed £157,009 to Panache Limited (2020 - £176,109). These are

all associated companies and no interest is payable on these loans.