Panesko Limited - Accounts to registrar (filleted) - small 18.2
Panesko Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 MARCH 2018 |
| FOR |
| PANESKO LIMITED |
| PANESKO LIMITED (REGISTERED NUMBER: 06854997) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 MARCH 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| PANESKO LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 MARCH 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| www.michaelfiliou.com |
| Salisbury House |
| 81 High Street |
| Potters Bar |
| Hertfordshire |
| EN6 5AS |
| PANESKO LIMITED (REGISTERED NUMBER: 06854997) |
| BALANCE SHEET |
| 30 MARCH 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 3 |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
6 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings | 9 |
| SHAREHOLDERS' FUNDS |
| 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. |
| PANESKO LIMITED (REGISTERED NUMBER: 06854997) |
| BALANCE SHEET - continued |
| 30 MARCH 2018 |
| 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 by: |
| PANESKO LIMITED (REGISTERED NUMBER: 06854997) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 MARCH 2018 |
| 1. | STATUTORY INFORMATION |
| Panesko Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 31 March 2017 |
| and 30 March 2018 |
| NET BOOK VALUE |
| At 30 March 2018 |
| At 30 March 2017 |
| PANESKO LIMITED (REGISTERED NUMBER: 06854997) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 MARCH 2018 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Dividends payable | 4,400 | 4,400 |
| Director's current accounts | 50,000 | - |
| Accrued expenses |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 259,640 | 337,401 |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| A loan was provided on by National Westminster Bank plc ("the Bank") to facilitate the investment of Panesko |
| Limited ("the Company") in the acquisition of the entire issued ordinary share capital of Greenfields Residential |
| Home Care Limited ("Greenfields"), an associated company of the Company. |
| The loan is secured in favour of the Bank by (i) a first legal charge over freehold property 24 Sidney Avenue, |
| Palmers Green, London N13 4UY, (ii) a mortgage debenture over the assets of the Company, and (iii) a personal |
| guarantee of £265,000 provided by the shareholder of the Company, Mrs D Demetriou, that is supported by a |
| legal mortgage over property 140 Palmerston Road, Palmers Green, London N22 4RB, and (iv) a cross |
| guarantee over the assets between the Company and its subsidiary company, Greenfields. |
| PANESKO LIMITED (REGISTERED NUMBER: 06854997) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 MARCH 2018 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 9. | RESERVES |
| Retained |
| earnings |
| £ |
| At 31 March 2017 |
| Profit for the year |
| At 30 March 2018 |
| 10. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |