PANEL_GROUP_INVESTMENTS_L - Accounts
PANEL_GROUP_INVESTMENTS_L - Accounts
Company Registration No. 6755693 (England and Wales)
FOR THE YEAR ENDED 30 NOVEMBER 2016
COMPANY INFORMATION
Directors
Company number
Registered office
UK
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 1 -
The directors present their report and financial statements for the year ended 30 November 2016.
Directors
The following directors have held office since 1 December 2015:
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
Director
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 2 -
2016
2015
Notes
£
£
Administrative expenses
(1 )
(Loss)/profit on ordinary activities before taxation
(1 )
Tax on (loss)/profit on ordinary activities
2
-
-
(Loss)/profit for the year
6
(1 )
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.
BALANCE SHEET
AS AT
30 NOVEMBER 2016
- 3 -
2016
2015
Notes
£
£
£
£
Fixed assets
Investments
3
Current assets
Cash at bank and in hand
Creditors: amounts falling due within one year
4
(424,427 )
(352,973 )
Net current liabilities
(420,522 )
(349,713 )
Total assets less current liabilities
(386 )
(319 )
Capital and reserves
Called up share capital
5
Revaluation reserve
6
(21 )
Reserves
6
(366 )
(381 )
Profit and loss account
6
(1 )
Shareholders' funds
7
(386 )
(319 )
Directors' responsibilities:
-
-
Approved by the Board and authorised for issue on 16 June 2017
Director
Company Registration No. 6755693
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 4 -
1
Accounting policies
1.1
Accounting convention
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.
2
Taxation
2016
2015
£
£
Total current tax
-
-
Factors affecting the tax charge for the year
(Loss)/profit on ordinary activities before taxation
(1 )
3
Fixed asset investments
Unlisted investments
£
Cost or valuation
At 1 December 2015
349,394
Revaluation
70,742
At 30 November 2016
420,136
Net book value
At 30 November 2016
At 30 November 2015
Panel Group Investments Ltd holds EUR496,000 value investment of 100% share capital in Horizon Investments EOOD a company registered in Republic of Bulgaria.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 5 -
4
Creditors: amounts falling due within one year
2016
2015
£
£
Other creditors
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2
2
6
Statement of movements on reserves
Revaluation reserve
Reserves
Profit
and loss
account
and loss
account
£
£
£
Balance at 1 December 2015
45
(366)
-
Loss for the year
-
-
(1 )
Revaluation during the year
(66 )
-
-
Balance at 30 November 2016
(21 )
(366 )
(1 )
Reserves
Reserves for own shares
Balance at 1 December 2015 & at 30 November 2016
(366)
7
Reconciliation of movements in Shareholders' funds
2016
2015
£
£
(Loss)/Profit for the financial year
(1 )
Other recognised gains and losses
(66)
45
Net (depletion in)/addition to shareholders' funds
(67 )
Opening Shareholders' funds
(319 )
(379 )
Closing Shareholders' funds
(386 )
(319 )
8
Control
Panel Group LLC (incorporated in USA) is regarded by the director as being the ultimate controlling company.