Registered number
04771777
Pandanus Resources Limited
Filleted Accounts
31 May 2023
Pandanus Resources Limited
Registered number: 04771777
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,222 1,573
Current assets
Debtors 4 10,410 4,470
Cash at bank and in hand 81,132 88,986
91,542 93,456
Creditors: amounts falling due within one year 5 (22,716) (18,866)
Net current assets 68,826 74,590
Total assets less current liabilities 70,048 76,163
Provisions for liabilities (232) (299)
Net assets 69,816 75,864
Capital and reserves
Called up share capital 2 2
Profit and loss account 69,814 75,862
Shareholders' funds 69,816 75,864
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Reed
Director
Approved by the board on 14 November 2023
Pandanus Resources Limited
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022 11,380
Additions 790
At 31 May 2023 12,170
Depreciation
At 1 June 2022 9,807
Charge for the year 1,141
At 31 May 2023 10,948
Net book value
At 31 May 2023 1,222
At 31 May 2022 1,573
4 Debtors 2023 2022
£ £
Trade debtors 10,200 4,260
Other debtors 210 210
10,410 4,470
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 20,703 16,576
Other creditors 2,013 2,290
22,716 18,866
6 Other information
Pandanus Resources Limited is a private company limited by shares and incorporated in England. Its registered office is:
33 Knight Road
Rendlesham
Woodbridge
Suffolk
IP12 2GR
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