PANESAR PROPERTIES YORKSHIRE LTD

Unaudited Financial Statements

for the Period 25 January 2022 to 31 January 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

NS Panesar

Panesar Properties (UK) Ltd

SS Panesar

T S Panesar

Mrs G K Panesar

REGISTERED OFFICE:

4 Northwest Business Park

Servia Hill

Leeds

West Yorkshire

LS6 2QH

REGISTERED NUMBER:

13869797 (England and Wales)

ACCOUNTANTS:

Botros & Co

Chartered Accountants

4 Northwest Business Park

Servia Hill

Leeds

West Yorkshire

LS6 2QH

BANKERS:

Lloyds Bank Plc

6-7 Park Row

Leeds

West Yorkshire

LS1 1NX

FIXED ASSETS

Tangible assets

4

8,474

Investment property

5

835,194

843,668

CURRENT ASSETS

Cash at bank and in hand

20,448

CREDITORS

Amounts falling due within one year

6

16,454

NET CURRENT ASSETS

3,994

TOTAL ASSETS LESS CURRENT LIABILITIES

847,662

CREDITORS

Amounts falling due after more than one year

7

815,000

NET ASSETS

32,662

CAPITAL AND RESERVES

Called up share capital

8

1,000

Retained earnings

9

31,662

SHAREHOLDERS' FUNDS

32,662

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2023 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 3 October 2023 and were signed on its behalf by:

SS Panesar - Director

1.	STATUTORY INFORMATION

Panesar Properties Yorkshire Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. 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.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

Additions

8,863

1,410

10,273

At 31 January 2023

8,863

1,410

10,273

DEPRECIATION

Charge for period

1,329

470

1,799

At 31 January 2023

1,329

470

1,799

NET BOOK VALUE

At 31 January 2023

7,534

940

8,474

Included in cost of land and buildings is freehold land of £ 50,000 which is not depreciated.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

835,194

At 31 January 2023

835,194

NET BOOK VALUE

At 31 January 2023

835,194

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Tenants Bond

4,500

Tax

5,669

Directors' loan accounts

1,320

Accrued expenses

4,965

16,454

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Directors Loan

815,000

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

700

Ordinary A

£1

700

300

Ordinary B

£1

300

1,000

9.

RESERVES

Retained

earnings

£

Profit for the period

31,662

At 31 January 2023

31,662