REGISTERED NUMBER: |
PREMIER PAN INTERNATIONAL HOLDINGS |
LIMITED |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 |
REGISTERED NUMBER: |
PREMIER PAN INTERNATIONAL HOLDINGS |
LIMITED |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 |
PREMIER PAN INTERNATIONAL HOLDINGS |
LIMITED (REGISTERED NUMBER: 10757313) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
PREMIER PAN INTERNATIONAL HOLDINGS |
LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Chartered Accountants |
Fryern House |
125 Winchester Road |
Chandlers Ford |
Hampshire |
SO53 2DR |
PREMIER PAN INTERNATIONAL HOLDINGS |
LIMITED (REGISTERED NUMBER: 10757313) |
BALANCE SHEET |
31 DECEMBER 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors: amounts falling due within one year | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Capital contribution reserve |
Retained earnings |
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 |
PREMIER PAN INTERNATIONAL HOLDINGS |
LIMITED (REGISTERED NUMBER: 10757313) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
1. | STATUTORY INFORMATION |
Premier Pan International Holdings Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 10757313 and its registered office address is Fryern House, 125 Winchester Road, Chandlers Ford, Hampshire, SO53 2DR. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company's functional currency is US Dollars. The company uses £ sterling as its presentation currency in order to comply with the requirements of the UK tax authorities. |
Going concern |
The financial statements have been prepared on the going concern basis. |
Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. |
There have been no judgements and estimates which have had a significant effect on amounts recognised in the financial statements during the year. |
Investments in associates |
Investments in associate undertakings are recognised at cost. |
Financial instruments |
Financial instruments are classified and accounted for according to the substance of the contractual arrangements as either financial assets, financial liabilities or equity instruments, and are held at amortised cost. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all its liabilities. |
Finance income and costs |
Finance income and costs are charged to the Income Statement over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount. |
Taxation |
The charge for taxation is based on the profit for the year and takes into account taxation deferred. |
Current tax is measured at amounts expected to be paid using tax rates and laws that been enacted or substantively enacted at the balance sheet date. |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax with the following exception: |
- deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. |
Deferred tax is measured at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
PREMIER PAN INTERNATIONAL HOLDINGS |
LIMITED (REGISTERED NUMBER: 10757313) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
4. | FIXED ASSET INVESTMENTS |
Interest in |
associate |
£ |
COST |
At 1 January 2022 |
and 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Corporation tax |
Shareholder loans |
Accruals and deferred income |
The shareholder loans are repayable on demand from January 2021 with a maximum term of 15 years, ending December 2032. Interest is charged on the shareholder loans at a rate of 3%. |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
During the previous years, the company advanced loans to its associate. The balance outstanding at the year end is £2,948,944 (2021: £2,717,514) and is included in 'Debtors: Amounts falling due within one year'. Interest totalling £80,235 was charged on the loan (2021: £83,027). Interest is charged at a rate of 3%. |
9. | ULTIMATE CONTROLLING PARTY |
The directors do not consider there to be an ultimate controlling party. |