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REGISTERED NUMBER: 13272267 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

PANESAR PROPERTY SERVICES LIMITED

PANESAR PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 13272267)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PANESAR PROPERTY SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr M S Panesar





REGISTERED OFFICE: 20 Naseby Close
Isleworth
Middlesex
TW7 4JQ





REGISTERED NUMBER: 13272267 (England and Wales)





ACCOUNTANTS: Ashfords Partnership LLP
114 - 116 Goodmayes Road
Ilford
Essex
IG3 9UZ

PANESAR PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 13272267)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,992 2,656
Investment property 5 474,093 474,093
476,085 476,749

CURRENT ASSETS
Cash at bank and in hand 9,872 4,649

CREDITORS
Amounts falling due within one year 6 255,552 253,685
NET CURRENT LIABILITIES (245,680 ) (249,036 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

230,405

227,713

CREDITORS
Amounts falling due after more than one year 7 221,421 228,034
NET ASSETS/(LIABILITIES) 8,984 (321 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 8,884 (421 )
SHAREHOLDERS' FUNDS 8,984 (321 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PANESAR PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 13272267)

BALANCE SHEET - continued
31 MARCH 2023


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 director and authorised for issue on 17 October 2023 and were signed by:





Mr M S Panesar - Director


PANESAR PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 13272267)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Panesar Property Services 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. 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 - 25% on reducing balance

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 year 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 year 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.

Going concern
The accounts have been prepared on going concern basis as the company has continuous support from the director.

PANESAR PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 13272267)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2022
and 31 March 2023 3,208
DEPRECIATION
At 1 April 2022 552
Charge for year 664
At 31 March 2023 1,216
NET BOOK VALUE
At 31 March 2023 1,992
At 31 March 2022 2,656

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 474,093
NET BOOK VALUE
At 31 March 2023 474,093
At 31 March 2022 474,093

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 14,616 14,616
Taxation and social security 1,617 -
Other creditors 239,319 239,069
255,552 253,685

PANESAR PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 13272267)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 221,421 228,034

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 162,958 169,571

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary 1 100 100

9. RESERVES
Retained
earnings
£   

At 1 April 2022 (421 )
Profit for the year 9,305
At 31 March 2023 8,884

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M S Panesar.