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REGISTERED NUMBER: SC439116 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

PUNJAB PAKORA LTD

PUNJAB PAKORA LTD (REGISTERED NUMBER: SC439116)

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


PUNJAB PAKORA LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: Mrs V Duggal
K Duggal
D Duggal





REGISTERED OFFICE: 20 Barns Street
Ayr
Ayrshire
KA7 1XA





REGISTERED NUMBER: SC439116 (Scotland)





ACCOUNTANTS: Galbraith Pritchards
20 Barns Street
Ayr
Ayrshire
KA7 1XA

PUNJAB PAKORA LTD (REGISTERED NUMBER: SC439116)

BALANCE SHEET
28 FEBRUARY 2023

28/2/23 28/2/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 600 800
Tangible assets 5 212,179 119,116
212,779 119,916

CURRENT ASSETS
Stocks 16,000 6,000
Debtors 6 398,469 252,695
Cash at bank 718,879 723,251
1,133,348 981,946
CREDITORS
Amounts falling due within one year 7 501,548 299,922
NET CURRENT ASSETS 631,800 682,024
TOTAL ASSETS LESS CURRENT
LIABILITIES

844,579

801,940

PROVISIONS FOR LIABILITIES 40,633 13,035
NET ASSETS 803,946 788,905

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 803,846 788,805
803,946 788,905

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 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.

PUNJAB PAKORA LTD (REGISTERED NUMBER: SC439116)

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 Board of Directors and authorised for issue on 29 November 2023 and were signed on its behalf by:




D Duggal - Director



Mrs V Duggal - Director


PUNJAB PAKORA LTD (REGISTERED NUMBER: SC439116)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Punjab Pakora 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.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance

A review of impairment is carried out at each reporting date. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

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

FINANCIAL INSTRUMENTS
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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.


PUNJAB PAKORA LTD (REGISTERED NUMBER: SC439116)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued
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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2022 - 34 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2022
and 28 February 2023 2,000
AMORTISATION
At 1 March 2022 1,200
Charge for year 200
At 28 February 2023 1,400
NET BOOK VALUE
At 28 February 2023 600
At 28 February 2022 800

PUNJAB PAKORA LTD (REGISTERED NUMBER: SC439116)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2022 95,438 221,863 317,301
Additions 500 143,582 144,082
At 28 February 2023 95,938 365,445 461,383
DEPRECIATION
At 1 March 2022 49,238 148,947 198,185
Charge for year 1,100 49,919 51,019
At 28 February 2023 50,338 198,866 249,204
NET BOOK VALUE
At 28 February 2023 45,600 166,579 212,179
At 28 February 2022 46,200 72,916 119,116

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£    £   
Trade debtors 190,673 121,985
Other debtors 207,796 130,710
398,469 252,695

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£    £   
Bank loans and overdrafts 122,583 -
Hire purchase contracts 61,972 -
Trade creditors 233,004 186,299
Taxation and social security 83,989 113,622
Other creditors - 1
501,548 299,922

PUNJAB PAKORA LTD (REGISTERED NUMBER: SC439116)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

28/2/23 28/2/22
£    £   
Bank loans 122,583 -
Hire purchase contracts 61,972 -
184,555 -

The bank loan is secured by way of a charge over the land and buildings.

9. ULTIMATE CONTROLLING PARTY

In the opinion of the directors there is no ultimate controlling party.