Caseware UK (AP4) 2022.0.179 2022.0.179 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false12022-03-01false1business and software developmenttrue 11195570 2022-03-01 2023-02-28 11195570 2021-03-01 2022-02-28 11195570 2023-02-28 11195570 2022-02-28 11195570 c:Director1 2022-03-01 2023-02-28 11195570 d:OfficeEquipment 2022-03-01 2023-02-28 11195570 d:OfficeEquipment 2023-02-28 11195570 d:OfficeEquipment 2022-02-28 11195570 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 11195570 d:CurrentFinancialInstruments 2023-02-28 11195570 d:CurrentFinancialInstruments 2022-02-28 11195570 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 11195570 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 11195570 d:ShareCapital 2023-02-28 11195570 d:ShareCapital 2022-02-28 11195570 d:RetainedEarningsAccumulatedLosses 2023-02-28 11195570 d:RetainedEarningsAccumulatedLosses 2022-02-28 11195570 c:FRS102 2022-03-01 2023-02-28 11195570 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 11195570 c:FullAccounts 2022-03-01 2023-02-28 11195570 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure
Registered number: 11195570





 
Pan Out Limited          
 
Financial statements          

For the year ended 28 February 2023          

 
Pan Out Limited
Registered number:11195570

Balance sheet
As at 28 February 2023


2023 

2022 
                                                                                    Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
362
483

Current assets
  

Debtors
 5 
10
10

Cash at bank and in hand
 6 
15,864
17,055

  
15,874
17,065

Creditors: amounts falling due within one year
 7 
(20,592)
(20,549)

Net current liabilities
  
 
 
(4,718)
 
 
(3,484)

  

Net liabilities
  
(4,356)
(3,001)


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
(4,556)
(3,201)

  
(4,356)
(3,001)


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 27 November 2023.






Winni Lam
Director


The notes on pages 2 to 5 form part of these financial statements.
Page 1

 
Pan Out Limited
 
 
Notes to the financial statements
For the year ended 28 February 2023

1.


General information

Pan Out Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Construction House, Runwell Road, Wickford, Essex, SS11 7HQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided at the following rate:

Office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 2

 
Pan Out Limited
 
 
Notes to the financial statements
For the year ended 28 February 2023

2.Accounting policies (continued)

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 3

 
Pan Out Limited
 
 
Notes to the financial statements
For the year ended 28 February 2023

4.


Tangible fixed assets





Office equipment

£



Cost


At 1 March 2022
1,531



At 28 February 2023

1,531



Depreciation


At 1 March 2022
1,048


Charge for the year
121



At 28 February 2023

1,169



Net book value



At 28 February 2023
362



At 28 February 2022
483


5.


Debtors

2023
2022
£
£


Trade debtors
10
10



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
15,864
17,055


Page 4

 
Pan Out Limited
 
 
Notes to the financial statements
For the year ended 28 February 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Director's loan account
19,800
19,800

Accruals
792
749

20,592
20,549


 


Page 5