C. C. Panayi & Co LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC344724 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31st March 2018

for

C. C. Panayi & Co LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

5

DESIGNATED MEMBERS:

Mr C Panayi

Miss E Charalambous

Ms E M Panayi

REGISTERED OFFICE:

Ground Floor

31 Kentish Town Road

London

NW1 8NL

REGISTERED NUMBER:

OC344724 (England and Wales)

ACCOUNTANTS:

C. C. Panayi & Co

Ground Floor

31 Kentish Town Road

London

NW1 8NL

FIXED ASSETS

Tangible assets

4

2,238,209

2,323,676

CURRENT ASSETS

Debtors

5

742,250

1,150,707

Cash at bank and in hand

16,465

41,816

758,715

1,192,523

CREDITORS

Amounts falling due within one year

6

389,989

707,630

NET CURRENT ASSETS

368,726

484,893

TOTAL ASSETS LESS CURRENT LIABILITIES

2,606,935

2,808,569

CREDITORS

Amounts falling due after more than one year

7

1,718,760

1,822,463

NET ASSETS ATTRIBUTABLE TO MEMBERS

888,175

986,106

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

388,175

486,106

MEMBERS' OTHER INTERESTS

Other reserves

500,000

500,000

888,175

986,106

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

388,175

486,106

Members' other interests

500,000

500,000

888,175

986,106

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31st March 2018.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP on 17th December 2018 and were signed by:

Miss E Charalambous - Designated member

Ms E M Panayi - Designated member

1.	STATUTORY INFORMATION

C. C. Panayi & Co LLP is registered in England and Wales. The LLP's registered number and

registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net fees receivable in respect of services provided during the period,

making appropriate provision for the value of work performed during the year but not yet

invoiced at the balance sheet date.

Tangible fixed assets

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

Land and buildings

-

1% on cost

Plant and machinery etc

-

33 1/3 % on cost, 25% on reducing balance and 6 2/3 % on cost

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's

pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised

cost using the effective interest method, less impairment losses for bad and doubtful debts

except where the effect of discounting would be immaterial. In such cases, the receivables are

stated at cost less impairment losses for bad and doubtful debts.

Trade debtors are assessed for impairment at the end of each reporting period and amounts

impaired are deducted and charged to the Profit and Loss Account.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at

amortised costs using the effective interest method unless the effect of discounting would be

immaterial in which case they are stated at cost.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 25 (2017 - 29 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st April 2017

1,950,000

575,613

2,525,613

Additions

-

4,334

4,334

Disposals

-

(50,928

)

(50,928

)

At 31st March 2018

1,950,000

529,019

2,479,019

DEPRECIATION

At 1st April 2017

50

201,887

201,937

Charge for year

19,500

42,174

61,674

Eliminated on disposal

-

(22,801

)

(22,801

)

At 31st March 2018

19,550

221,260

240,810

NET BOOK VALUE

At 31st March 2018

1,930,450

307,759

2,238,209

At 31st March 2017

1,949,950

373,726

2,323,676

5.

DEBTORS

31.3.18

31.3.17

£

£

Amounts falling due within one year:

Trade debtors

498,877

631,226

Other debtors

243,338

518,866

742,215

1,150,092

Amounts falling due after more than one year:

Other debtors

35

615

Aggregate amounts

742,250

1,150,707

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans and overdrafts

117,140

174,739

Trade creditors

154,373

92,330

Taxation and social security

81,225

17,912

Other creditors

37,251

422,649

389,989

707,630

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans

1,718,760

1,822,463

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,346,760

1,417,508

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.18

31.3.17

£

£

Within one year

11,650

12,047

Between one and five years

4,512

15,607

16,162

27,654

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.18

31.3.17

£

£

Bank loans

1,811,760

1,904,108

The bank loan is secured by way of a fixed and floating charge over the property owned by

the LLP and by personal securities given by the partners.

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with debts due to unsecured creditors

in the event of a winding up.