Panesar Holdings Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 01441832

Unaudited Financial Statements for the Year Ended 31 December 2016

for

Panesar Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G S Panesar

B S Panesar

M S Panesar

B S Panesar

Mrs G K Panesar

Mrs P K Panesar

Mrs H K Panesar

Mrs J K Panesar

SECRETARY:

G S Panesar

REGISTERED OFFICE:

C/O Pearl House

Commondale Way

Euroway Trading Estate

Bradford

West Yorkshire

BD4 6SF

REGISTERED NUMBER:

01441832

ACCOUNTANTS:

Walker Broadbent Associates

Chartered Accountants

Lencett House

45 Boroughgate

Otley

West Yorkshire

LS21 1AG

FIXED ASSETS

Investments

4

1

1

CURRENT ASSETS

Debtors

5

-

543,000

Cash at bank

173,557

278,909

173,557

821,909

CREDITORS

Amounts falling due within one year

6

9,217

4,300

NET CURRENT ASSETS

164,340

817,609

TOTAL ASSETS LESS CURRENT LIABILITIES

164,341

817,610

CREDITORS

Amounts falling due after more than one year

7

28,259

130,992

NET ASSETS

136,082

686,618

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

131,082

681,618

SHAREHOLDERS' FUNDS

136,082

686,618

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 25 September 2017 and were signed on its behalf by:

M S Panesar - Director

1.	STATUTORY INFORMATION

Panesar Holdings Limited is a private company, limited by shares , registered in Not specified/Other. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Panesar Holdings Limited as an individual company and do

not contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 8 .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2016

and 31 December 2016

1

NET BOOK VALUE

At 31 December 2016

1

At 31 December 2015

1

5.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.16

31.12.15

as restated

£

£

Other debtors

-

543,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

as restated

£

£

Taxation and social security

8,616

3,300

Other creditors

601

1,000

9,217

4,300

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.16

31.12.15

as restated

£

£

Other creditors

28,259

130,992

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £40,000 were paid to the directors .

During the period, the company received management charges of £42,500 (2015: £75,640) from Pearl Services

UK Limited.

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors.