Pangea Logistics Network Ltd - Accounts to registrar (filleted) - small 18.2

Pangea Logistics Network Ltd - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 07464950 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st December 2021

for

Pangea Logistics Network Ltd

Pangea Logistics Network Ltd (Registered number: 07464950)






Contents of the Financial Statements
for the Year Ended 31st December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

Pangea Logistics Network Ltd

Company Information
for the Year Ended 31st December 2021







DIRECTOR: Mrs S Santos Bidmead





REGISTERED OFFICE: 29a Crown Street
Brentwood
Essex
CM14 4BA





REGISTERED NUMBER: 07464950 (England and Wales)





ACCOUNTANTS: Moulton Johnson Limited
Chartered Accountants
29a Crown Street
Brentwood
Essex
CM14 4BA

Pangea Logistics Network Ltd (Registered number: 07464950)

Balance Sheet
31st December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 742 840

CURRENT ASSETS
Debtors 5 19,512 11,585
Cash at bank 260,571 191,906
280,083 203,491
CREDITORS
Amounts falling due within one year 6 133,758 96,185
NET CURRENT ASSETS 146,325 107,306
TOTAL ASSETS LESS CURRENT
LIABILITIES

147,067

108,146

CAPITAL AND RESERVES
Called up share capital 15,614 15,614
Retained earnings 131,453 92,532
SHAREHOLDERS' FUNDS 147,067 108,146

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1st March 2022 and were signed by:





Mrs S Santos Bidmead - Director


Pangea Logistics Network Ltd (Registered number: 07464950)

Notes to the Financial Statements
for the Year Ended 31st December 2021

1. STATUTORY INFORMATION

Pangea Logistics Network 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The director has reviewed the ongoing situation with regard to COVID-19 and considers that it is appropriate to prepare the financial statements on the basis that the business is going to continue as a going concern. In her opinion, the company has sufficient reserves to support itself through the pandemic and, therefore, she has no reasonable concern to doubt the company's ability to continue to trade for the next 12 months.

Revenue recognition
The company's revenue comprises membership fees and income for other services. Membership fee income is recognised evenly over the period of membership and excludes Value Added Tax. Income for other services is recognised on an invoiced basis and excludes 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.

Office equipment - 25% straight line basis.

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.

3. EMPLOYEES AND DIRECTORS

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

Pangea Logistics Network Ltd (Registered number: 07464950)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2021

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2021 1,120
Additions 242
At 31st December 2021 1,362
DEPRECIATION
At 1st January 2021 280
Charge for year 340
At 31st December 2021 620
NET BOOK VALUE
At 31st December 2021 742
At 31st December 2020 840

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 18,922 11,076
VAT 1 -
Prepayments 589 509
19,512 11,585

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Taxation 9,109 8,386
Social security and other taxes - 77
Director's loan account 333 333
Accruals and deferred income 124,316 87,389
133,758 96,185

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Pangea Logistics Network Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pangea Logistics Network Ltd for the year ended 31st December 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Pangea Logistics Network Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pangea Logistics Network Ltd and state those matters that we have agreed to state to the director of Pangea Logistics Network Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pangea Logistics Network Ltd and its director for our work or for this report.

It is your duty to ensure that Pangea Logistics Network Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pangea Logistics Network Ltd. You consider that Pangea Logistics Network Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Pangea Logistics Network Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moulton Johnson Limited
Chartered Accountants
29a Crown Street
Brentwood
Essex
CM14 4BA


1st March 2022