PUNR Property Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10684048 (England and Wales)

PUNR PROPERTY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 23 MARCH 2017 TO 31 MARCH 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr R Nilforooshan

N Rezaei

REGISTERED OFFICE:

72-94 Millbank Street

Northam

Southampton

Hampshire

SO14 5QN

REGISTERED NUMBER:

10684048 (England and Wales)

ACCOUNTANTS:

Morris Crocker

Chartered Accountants

Station House

North Street

Havant

Hampshire

PO9 1QU

FIXED ASSETS

Tangible assets

4

5,989

Investment property

5

1,443,266

1,449,255

CURRENT ASSETS

Cash at bank

379

CREDITORS

Amounts falling due within one year

6

875,601

NET CURRENT LIABILITIES

(875,222

)

TOTAL ASSETS LESS CURRENT LIABILITIES

574,033

CREDITORS

Amounts falling due after more than one year

7

609,205

NET LIABILITIES

(35,172

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(35,272

)

SHAREHOLDERS' FUNDS

(35,172

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2018 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 19 December 2018 and were signed on its behalf by:

N Rezaei - Director

1.	STATUTORY INFORMATION

PUNR Property Limited 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 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 as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other accounts receivable and payable, loans from banks

and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are

measured initially at fair value, net of transaction costs, and are measured subsequently at amortised

cost using the effective interest method, less any impairment

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other

short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are

shown within borrowings or current liabilities.

Trade and other creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including

bank loans, are measured initially at fair value, net of transaction costs, and are measured

subsequently at amortised cost using the effective interest method

Taxation

Taxation for the period 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 period 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.

Going concern

The company has the continued financial support of its directors, who have agreed not to request

repayment of their loans until the company has the funds available. On this basis the directors of

PUNR Property Limited consider it appropriate to prepare accounts on the going concern basis. These

financial statements do not include any adjustments that would result in the company suffering further

trading losses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

7,486

At 31 March 2018

7,486

DEPRECIATION

Charge for period

1,497

At 31 March 2018

1,497

NET BOOK VALUE

At 31 March 2018

5,989

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

1,443,266

At 31 March 2018

1,443,266

NET BOOK VALUE

At 31 March 2018

1,443,266

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other creditors

875,601

Included within other creditors is a loan totalling £873,501 from Mr N Rezaei (Director).

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

609,205

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

609,205

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

609,205

The loan is secured by a first legal charge over the property and first fixed and floating charges over

the entire assets and undertaking of the company.