REGISTERED NUMBER: |
PANAF LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2018 |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | 10 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 |
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 |
PANAF LIMITED (REGISTERED NUMBER: 03492352) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2018 |
1. | STATUTORY INFORMATION |
Panaf Limited is a |
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 |
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 |
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 |
DEPRECIATION |
At 1 July 2017 |
Charge for year |
At 30 June 2018 |
NET BOOK VALUE |
At 30 June 2018 |
At 30 June 2017 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other loans |
Director's loan account | 865 | 148 |
Accruals and deferred income |
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: | £ | £ |
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 | ( |
) |
Profit for the year |
At 30 June 2018 | ( |
) |
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. |