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REGISTERED NUMBER: 12934869 (England and Wales)















Unaudited Financial Statements

For The Year Ended 31 October 2023

for

Laughing Panda Ltd

Laughing Panda Ltd (Registered number: 12934869)






Contents of the Financial Statements
For The Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Laughing Panda Ltd

Company Information
For The Year Ended 31 October 2023







DIRECTOR: Mr A S H L Nurani





SECRETARY: Mr A S H L Nurani





REGISTERED OFFICE: 276 Preston Road
Harrow
Middlesex
HA3 0QA





REGISTERED NUMBER: 12934869 (England and Wales)





ACCOUNTANTS: RNS Business Solutions Limited
Chartered Accountants
276 Preston Road
Harrow
Middlesex
HA3 0QA

Laughing Panda Ltd (Registered number: 12934869)

Balance Sheet
31 October 2023

31/10/23 31/10/22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,304,619 2,304,619

CURRENT ASSETS
Debtors 5 5,110 1,493
Cash in hand 1,000 1,000
6,110 2,493
CREDITORS
Amounts falling due within one year 6 2,233,855 2,275,923
NET CURRENT LIABILITIES (2,227,745 ) (2,273,430 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,874

31,189

CAPITAL AND RESERVES
Called up share capital 90 90
Retained earnings 76,784 31,099
76,874 31,189

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

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

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 April 2024 and were signed by:



Mr A S H L Nurani - Director


Laughing Panda Ltd (Registered number: 12934869)

Notes to the Financial Statements
For The Year Ended 31 October 2023

1. STATUTORY INFORMATION

Laughing Panda Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover represents rent receivable from letting of own investment property.

Investment property
Investment properties comprise freehold land and buildings. These are measured initially at cost, including related transaction costs. These are held as an investment to earn rental income and for capital appreciation and are stated at the fair value at the Balance Sheet date.

After initial recognition, investment properties are carried at fair value, based on market value, after which they are valued annually by independent external valuers or held at Directors' valuation if appropriate. The changes in fair value and impairments resulting from losses of economic benefit are recognised in the Profit and Loss Account.

Subsequent expenditure is added to the asset's carrying amount only when it is probable that future economic benefits associated with the item and the cost of the item can be reliably measured.

Other repairs and maintenance expenditure is charged to the Profit and Loss Account during the financial period in which it incurred.

When an existing investment property is redeveloped for continued use it remains an investment property whilst in development.

Financial instruments
The Company only enters into basic financial instruments 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.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


Laughing Panda Ltd (Registered number: 12934869)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

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

Laughing Panda Ltd (Registered number: 12934869)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 2,304,619
NET BOOK VALUE
At 31 October 2023 2,304,619
At 31 October 2022 2,304,619

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Other debtors 5,110 1,493

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Taxation and social security 11,091 7,396
Other creditors 2,222,764 2,268,527
2,233,855 2,275,923

7. RELATED PARTY DISCLOSURES

Included in creditors is an amount due to the director and shareholders of £2,216,254 (2022: £2,263,729). The outstanding loan due is interest free and payable on demand.