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REGISTERED NUMBER: 03492352 (England and Wales)


















PANAF LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018






PANAF LIMITED (REGISTERED NUMBER: 03492352)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PANAF LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2018







DIRECTOR: E R Kakembo





SECRETARY: S S Kakembo





REGISTERED OFFICE: 2nd Floor,
Exchange Building,
16 St Cuthberts Street
Bedford
MK40 3JG





REGISTERED NUMBER: 03492352 (England and Wales)





ACCOUNTANTS: Keens Shay Keens Limited
Chartered Accountants
2nd Floor Exchange Building
16 St Cuthberts Street
Bedford
Bedfordshire
MK40 3JG

PANAF LIMITED (REGISTERED NUMBER: 03492352)

BALANCE SHEET
30 JUNE 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 99 393

CURRENT ASSETS
Stocks 4,952 6,250
Debtors 6 557 -
Cash at bank 4,208 1,858
9,717 8,108
CREDITORS
Amounts falling due within one year 7 4,054 3,499
NET CURRENT ASSETS 5,663 4,609
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,762

5,002

CREDITORS
Amounts falling due after more than one
year

8

21,000

23,000
NET LIABILITIES (15,238 ) (17,998 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 (15,338 ) (18,098 )
SHAREHOLDERS' FUNDS (15,238 ) (17,998 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

PANAF LIMITED (REGISTERED NUMBER: 03492352)

BALANCE SHEET - continued
30 JUNE 2018


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 director on 5 November 2018 and were signed by:





E R Kakembo - Director


PANAF LIMITED (REGISTERED NUMBER: 03492352)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018


1. STATUTORY INFORMATION

Panaf 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

The 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 company meets its day to day working capital requirements through loans from the shareholders.

After making enquiries, the director has a reasonable expectation that the company has adequate resources to
continue in operation existence for the foreseeable future. Accordingly, the director continues to adopt the going
concern basis in preparing the financial statements.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
Value Added Tax and other sales taxes.

Fixed assets
All fixed assets are initially recorded at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful
economic life of the asset as follows:

Plant and machinery - 25% Straight Line
Computer equipment - 33% Straight Line

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

PANAF LIMITED (REGISTERED NUMBER: 03492352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2018


5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 July 2017
and 30 June 2018 1,273 884 2,157
DEPRECIATION
At 1 July 2017 1,273 491 1,764
Charge for year - 294 294
At 30 June 2018 1,273 785 2,058
NET BOOK VALUE
At 30 June 2018 - 99 99
At 30 June 2017 - 393 393

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 557 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Other loans 2,259 2,259
Director's loan account 865 148
Accruals and deferred income 930 1,092
4,054 3,499

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2018 2017
£    £   
Director's loan account 21,000 23,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2018 2017
value: £    £   
100 Ordinary £1 100 100

PANAF LIMITED (REGISTERED NUMBER: 03492352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2018


10. RESERVES
Retained
earnings
£   

At 1 July 2017 (18,098 )
Profit for the year 2,760
At 30 June 2018 (15,338 )

11. RELATED PARTY DISCLOSURES

No one entity has control or ultimate control of the company.

At 30 June 2018 a total amount of £21,865 (2017: £23,148) was due to E R Kakembo, director. No interest has
been charged on this balance during the year (2017: £Nil) and there are no set repayment terms in place.

Included within creditors is an amount of £2,259 (2017: £2,259) due to S S Kakembo, shareholder of the
company. No interest has been charged on this balance during the year (2017: £Nil) and there are no set
repayment terms in place.