PANEL_GROUP_INVESTMENTS_L - Accounts

PANEL GROUP INVESTMENTS LIMITED - Company Information

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Company Registration No. 6755693 (England and Wales)

PANEL GROUP INVESTMENTS LTD

DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2015

PANEL GROUP INVESTMENTS LTD

COMPANY INFORMATION

Directors

Mr D Antoniadis

Mr F Knox

Company number

6755693

Registered office

4th Floor

54 Conduit Street

London

W1S 2YY

PANEL GROUP INVESTMENTS LTD

DIRECTORS' REPORT

FOR THE YEAR ENDED 30 NOVEMBER 2015

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The directors present their report and financial statements for the year ended 30 November 2015.

Directors

The following directors have held office since 1 December 2014:

Mr D Antoniadis

Mr F Knox

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

On behalf of the board

Mr F Knox

Director

5 August 2016

PANEL GROUP INVESTMENTS LTD

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 30 NOVEMBER 2015

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2015

2014

Notes

Administrative expenses

Profit on ordinary activities before taxation

Tax on profit on ordinary activities

Profit for the year

The profit and loss account has been prepared on the basis that all operations are continuing operations.

There are no recognised gains and losses other than those passing through the profit and loss account.

PANEL GROUP INVESTMENTS LTD

BALANCE SHEET

AS AT

30 NOVEMBER 2015

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2015

2014

Notes

Fixed assets

Investments

349,394

394,999

Current assets

Cash at bank and in hand

3,260

3,659

Creditors: amounts falling due within one year

(352,973)

(399,037)

Net current liabilities

(349,713)

(395,378)

Total assets less current liabilities

(319)

(379)

Capital and reserves

Called up share capital

Revaluation reserve

Other reserves

(381)

(394)

Profit and loss account

Shareholders' funds

(319)

(379)

For the financial year ended 30 November 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 5 August 2016

Mr F Knox

Director

Company Registration No. 6755693

PANEL GROUP INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2015

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Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.4

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the monthly average rate ruling at the month of the transaction.

Taxation

2015

2014

Total current tax

Factors affecting the tax charge for the year

Profit on ordinary activities before taxation

PANEL GROUP INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2015

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Fixed asset investments

Unlisted investments

Cost or valuation

At 1 December 2014

394,999

Revaluation

(45,605)

At 30 November 2015

349,394

Net book value

At 30 November 2015

349,394

At 30 November 2014

394,999

Panel Group Investments Ltd holds EUR496,000 value investment of 100%share capital (BGN 1,000,000) in Horizon Investments EOOD a company registered in Republic of Bulgaria.

Creditors: amounts falling due within one year

2015

2014

Other creditors

352,973

399,037

Share capital

2015

2014

Allotted, called up and fully paid

PANEL GROUP INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 NOVEMBER 2015

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Statement of movements on reserves

Reserves

Profit
and loss
account

Profit for the year

Movement during the year

(381)

Balance at 30 November 2015

(381)

Reserves

Reserves for own shares

Reserve for own shares movement

(381)

Balance at 30 November 2015

(381)

Reconciliation of movements in Shareholders' funds

2015

2014

Profit for the financial year

Other recognised gains and losses

Movements on other reserves

(381)

(394)

Net depletion in shareholders' funds

(321)

(381)

Opening Shareholders' funds

(379)

Closing Shareholders' funds

(319)

(379)

Control

Panel Group LLC (incorporated in USA) is regarded by the director as being the ultimate controlling company.