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REGISTERED NUMBER: 07536713 (England and Wales)















POONAH INVESTMENTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2023






POONAH INVESTMENTS LIMITED (REGISTERED NUMBER: 07536713)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


POONAH INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2023







DIRECTORS: B J Singh
K Kaur
A S Nijjar





SECRETARY: B J Singh





REGISTERED OFFICE: Central Chambers
45-47 Albert Street
Rugby
Warwickshire
CV21 2SG





REGISTERED NUMBER: 07536713 (England and Wales)





ACCOUNTANTS: Atkinson Finch & Co
Chartered Accountants
Central Chambers
45-47 Albert Street
Rugby
Warwickshire
CV21 2SG

POONAH INVESTMENTS LIMITED (REGISTERED NUMBER: 07536713)

BALANCE SHEET
31ST AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1 1
Investment property 5 1,950,000 2,250,000
1,950,001 2,250,001

CURRENT ASSETS
Stocks 606,860 579,449
Debtors 6 - 99,858
Cash at bank 536,448 -
1,143,308 679,307
CREDITORS
Amounts falling due within one year 7 1,755,281 1,380,782
NET CURRENT LIABILITIES (611,973 ) (701,475 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,338,028

1,548,526

CREDITORS
Amounts falling due after more than one
year

8

-

(200,014

)

PROVISIONS FOR LIABILITIES (205,139 ) (169,492 )
NET ASSETS 1,132,889 1,179,020

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 759,902 867,058
Retained earnings 372,887 311,862
SHAREHOLDERS' FUNDS 1,132,889 1,179,020

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 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.

POONAH INVESTMENTS LIMITED (REGISTERED NUMBER: 07536713)

BALANCE SHEET - continued
31ST AUGUST 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 5th April 2024 and were signed on its behalf by:





B J Singh - Director


POONAH INVESTMENTS LIMITED (REGISTERED NUMBER: 07536713)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023

1. STATUTORY INFORMATION

Poonah Investments 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.

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 as modified by the revaluation of certain assets.

Significant judgements and estimates
There are no significant judgements that have a material effect on the accounts nor any accounting estimates that have a high risk of causing a material adjustment in a future accounting period.

Turnover
Turnover represents the net value of rents and recharged expenses receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Investment property
Investment property is carried at fair value. Revaluation surpluses or deficits are recognised in the income statement. Deferred taxation is provided on these gains and the net of revaluation and deferred tax movement transferred to a fair value reserve.

The directors review the property portfolio each year and adjust the carrying values where they believe that there is a material adjustment to the previous year.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

POONAH INVESTMENTS LIMITED (REGISTERED NUMBER: 07536713)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st September 2022
and 31st August 2023 728
DEPRECIATION
At 1st September 2022
and 31st August 2023 727
NET BOOK VALUE
At 31st August 2023 1
At 31st August 2022 1

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st September 2022 2,250,000
Disposals (228,491 )
Revaluations (71,509 )
At 31st August 2023 1,950,000
NET BOOK VALUE
At 31st August 2023 1,950,000
At 31st August 2022 2,250,000

Fair value at 31st August 2023 is represented by:
£   
Valuation in 2020 740,041
Valuation in 2021 296,509
Valuation in 2023 (71,509 )
Cost 984,959
1,950,000

If the investments properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 984,959 1,213,450

The investment properties were valued on an open market basis on 31st August 2023 by the Board of Directors .

POONAH INVESTMENTS LIMITED (REGISTERED NUMBER: 07536713)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 99,858

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 950,000 568,431
Trade creditors 228 -
Corporation tax payable 41,044 13,350
Social security and other taxes 3,672 -
Other creditors 12,300 52,300
Directors' current accounts 746,016 744,271
Accrued expenses 2,021 2,430
1,755,281 1,380,782

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years - 6,869
Bank loans - 2-5 years - 193,145
- 200,014

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 30,410
Bank loans 950,000 738,035
950,000 768,445

The bank loans and overdraft are secured by a fixed and floating charge over the property and fixtures and fittings of the company, together with a personal guarantee from B J Singh and K Kaur for £395,000.