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REGISTERED NUMBER: SC497091 (Scotland)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Panjabi Food Company Ltd

Panjabi Food Company Ltd (Registered number: SC497091)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Panjabi Food Company Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTOR: H Singh





REGISTERED OFFICE: 607 Pollokshaws Road
Glasgow
G41 2QG





REGISTERED NUMBER: SC497091 (Scotland)





ACCOUNTANTS: FNS Accounting
42 Nithsdale Road
Glasgow
G41 2AN

Panjabi Food Company Ltd (Registered number: SC497091)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 149,490 149,490

CURRENT ASSETS
Stocks 2,745 2,745
Cash at bank and in hand 42,129 42,129
44,874 44,874
CREDITORS
Amounts falling due within one year 5 53,005 53,005
NET CURRENT LIABILITIES (8,131 ) (8,131 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

141,359

141,359

CREDITORS
Amounts falling due after more than one
year

6

114,509

114,509
NET ASSETS 26,850 26,850

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 26,750 26,750
SHAREHOLDERS' FUNDS 26,850 26,850

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

Panjabi Food Company Ltd (Registered number: SC497091)

Balance Sheet - continued
28 February 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 13 November 2023 and were signed by:





H Singh - Director


Panjabi Food Company Ltd (Registered number: SC497091)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Panjabi Food Company Ltd is a private company, limited by shares , registered in Scotland. 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.

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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 7 ).

Panjabi Food Company Ltd (Registered number: SC497091)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 March 2022
and 28 February 2023 138,320 31,246 169,566
DEPRECIATION
At 1 March 2022
and 28 February 2023 - 20,076 20,076
NET BOOK VALUE
At 28 February 2023 138,320 11,170 149,490
At 28 February 2022 138,320 11,170 149,490

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Directors loan 41,267 41,267
Tax 4,305 4,305
PAYE 1,039 1,039
VAT 553 553
Accrued expenses 5,841 5,841
53,005 53,005

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans more 5 yrs non-inst 25,000 25,000
Bank loan 89,509 89,509
114,509 114,509

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 25,000 25,000