Pan Property Ltd - Accounts to registrar (filleted) - small 23.2.5

Pan Property Ltd - Accounts to registrar (filleted) - small 23.2.5

PAN PROPERTY LTD - Company Information

Print Friendly Version

IRIS Accounts Production v24.1.0.578 11478148 director 1.8.22 31.7.23 31.7.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh114781482022-07-31114781482023-07-31114781482022-08-012023-07-31114781482021-07-31114781482021-08-012022-07-31114781482022-07-3111478148ns15:EnglandWales2022-08-012023-07-3111478148ns14:PoundSterling2022-08-012023-07-3111478148ns10:Director12022-08-012023-07-3111478148ns10:PrivateLimitedCompanyLtd2022-08-012023-07-3111478148ns10:SmallEntities2022-08-012023-07-3111478148ns10:AuditExemptWithAccountantsReport2022-08-012023-07-3111478148ns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3111478148ns10:SmallCompaniesRegimeForAccounts2022-08-012023-07-3111478148ns10:FullAccounts2022-08-012023-07-3111478148ns10:RegisteredOffice2022-08-012023-07-3111478148ns5:CurrentFinancialInstruments2023-07-3111478148ns5:CurrentFinancialInstruments2022-07-3111478148ns5:ShareCapital2023-07-3111478148ns5:ShareCapital2022-07-3111478148ns5:RetainedEarningsAccumulatedLosses2023-07-3111478148ns5:RetainedEarningsAccumulatedLosses2022-07-31
REGISTERED NUMBER: 11478148 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31st July 2023

for

PAN PROPERTY LTD
PAN PROPERTY LTD (REGISTERED NUMBER: 11478148)

Contents of the Financial Statements
for the year ended 31st July 2023










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


PAN PROPERTY LTD

Company Information
for the year ended 31st July 2023







DIRECTOR: Dr A H Hawley





REGISTERED OFFICE: 75 Horseshoe Crescent
Shoeburyness Garrison
Southend-on-Sea
Essex
SS3 9WL





REGISTERED NUMBER: 11478148 (England and Wales)





ACCOUNTANTS: Barrons Limited
Chartered Accountants
Monometer House
Rectory Grove
Leigh on Sea
Essex
SS9 2HN
Page 1
Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Pan Property 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 Pan Property Ltd for the year ended 31st July 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity 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 Pan Property Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pan Property Ltd and state those matters that we have agreed to state to the director of Pan Property 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 Pan Property Ltd and its director for our work or for this report.

It is your duty to ensure that Pan Property 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 Pan Property Ltd. You consider that Pan Property 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 Pan Property 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.






Barrons Limited
Chartered Accountants
Monometer House
Rectory Grove
Leigh on Sea
Essex
SS9 2HN


24th April 2024

This page does not form part of the statutory financial statements

Page 2
PAN PROPERTY LTD (REGISTERED NUMBER: 11478148)

Balance Sheet
31st July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 425,000 425,000

CURRENT ASSETS
Cash at bank and in hand 23,693 7,591

CREDITORS
Amounts falling due within one year 5 389,202 385,308
NET CURRENT LIABILITIES (365,509 ) (377,717 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
59,491
47,283

PROVISIONS FOR LIABILITIES 10,019 10,019
NET ASSETS 49,472 37,264

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 49,469 37,261
49,472 37,264

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2023 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 notes form part of these financial statements

Page 3 continued...
PAN PROPERTY LTD (REGISTERED NUMBER: 11478148)

Balance Sheet - continued
31st July 2023


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 and authorised for issue on 24th April 2024 and were signed by:





Dr A H Hawley - Director


The notes form part of these financial statements

Page 4
PAN PROPERTY LTD (REGISTERED NUMBER: 11478148)

Notes to the Financial Statements
for the year ended 31st July 2023


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.

Turnover
The turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover wholly consists of rental income from the investment properties held which are accounted for on an accruals

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. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Page 5 continued...
PAN PROPERTY LTD (REGISTERED NUMBER: 11478148)

Notes to the Financial Statements - continued
for the year ended 31st July 2023


4. INVESTMENT PROPERTY
Total
£   
COST
At 1st August 2022
and 31st July 2023 425,000
NET BOOK VALUE
At 31st July 2023 425,000
At 31st July 2022 425,000

Investment properties were valued on an open market basis on 31st July 2023 by the company directors.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 1,585 -
Other creditors 387,617 385,308
389,202 385,308

6. RELATED PARTY DISCLOSURES

As at the balance sheet date there were directors' current account balances totalling £253,026
(2022: £119,049).
As at the balance sheet date there were shareholder loans totalling £131,692 (2022: £265,779).

7. DISTRIBUTABLE RESERVES

Retained earnings as disclosed on the face of the balance sheet also include revaluation gains and deferred tax provision on these gains. These are not distributable reserves. The actual distributable reserves as at the balance sheet date were £6,758 (2022: negative £5,450).

Page 6