2022-01-01 2022-12-31 10127257 PAB LONDON LIMITED false 10127257 2022-01-01 2022-12-31 10127257 uk-bus:Director1 2022-01-01 2022-12-31 10127257 uk-bus:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 10127257 uk-bus:SmallEntities 2022-01-01 2022-12-31 10127257 uk-bus:FullAccounts 2022-01-01 2022-12-31 10127257 uk-bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 10127257 2022-01-01 10127257 2022-12-31 10127257 2021-12-31 xbrli:pure iso4217:GBP 10127257 2021-01-01 2021-12-31
Company Registration Number : 10127257 (England and Wales)
10127257
This company is a private limited company
This company sells stuff to other companies
The company was trading for the entire period
Full Accounts
2022-12-31
false
PAB LONDON LIMITED
The accounts were prepared in accordance with FRS102A
The accounts have been audited
2022-01-01
PAB LONDON LIMITED
Unaudited filleted financial statements
For the year ended 31 December 2022
PAB LONDON LIMITED
Contents
For the year ended 31 December 2022

CONTENTS PAGE
Company Information 3
Statement of Financial Position 4
Notes to the Financial Statements 5 - 6


PAB LONDON LIMITED
Company Information
For the year ended 31 December 2022

Company registration number 10127257 (England and Wales)
Director Ion Sandu
Registered office address 37th Floor 1 Canada Square
Canary Wharf, London
United Kingdom
E14 5AA
Accountant DNS Associates
Chartered Institute of Management Accountants
382 Kenton Road
Harrow, Middlesex
HA3 8DP
PAB LONDON LIMITED
Statement of Financial Position
For the year ended 31 December 2022

2022 2021
Notes £ £
Fixed assets
Property, plant and equipment 844 2,281
6 844 2,281
Current assets
Inventories 20,000 533,710
Debtors 941,083 937,939
Cash and cash equivalents 49,974 57,426
1,011,056 1,529,076
Current liabilities
Creditors: Amounts falling due within one year (340,725) (424,742)
(340,725) (424,742)
Net current assets/(liabilities) 670,331 1,104,334
Total assets less current liabilities 671,175 1,106,615
Non-current liabilities
Creditors: Amounts falling due after more than one year (4,076,940) (3,804,320)
Provision for liabilities (14,219) (14,219)
Net (liabilities)/assets (3,419,983) (2,711,923)
Capital and reserves
Called up share capital 100,001 100,001
Retained earnings (3,519,984) (2,811,924)
Shareholder's funds (3,419,983) (2,711,923)
For the year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small entities regime. All the members of the company have consented to the drawing up of the abridged balance sheet.
  • For the year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The director acknowledges their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts 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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 11 June 2024
.............................
Ion Sandu (Director)
Company registration number: 10127257
/* == Copy of Frs105 Balance Sheet for XML COntent ============================================================ */
Balance sheet at 2022-12-31 31 December 2022
2022 2021
£ £
Fixed Assets 844 2,281
Current Assets 1,007,836 1,525,178
Prepayments and accrued income 3,220 3,898
Creditors: amounts falling due within one year (340,725) (424,742)
Net current assets (liabilities) 670,331 1,104,334
Total assets less current liabilities 671,175 1,106,615
CREDITORS: Amounts falling due more than one year (4,076,940) (3,804,320)
Provisions for liabilities (14,219) (14,219)
Net Assets (liabilities) (3,419,983) (2,711,923)
Capital and Reserves (3,419,983) (2,711,923)
For the year ending 31/12/2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. For the year ending 31-12-2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit for the year in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the small companies provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of directors on 11 June 2024 2024-06-11 and signed on behalf of the board,
.............................
Ion Sandu
Director
Company registration number: 10127257
PAB LONDON LIMITED
Notes to the Financial Statements
For the year ended 31 December 2022

(1) General Information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is 37th Floor 1 Canada Square, Canary Wharf, London, United Kingdom, E14 5AA.

(2) Statement of compliance
These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime.

(3) Significant Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below.
Sale of goods
Sales of goods are recognised when the company has delivered the goods to the customer, no other significant obligation remains unfulfilled that may affect the customer's acceptance of the products and risks and rewards of ownership have transferred to them.
Foreign currency
Transactions in foreign currencies other than its functional currency are recorded at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the year-end date are translated at the foreign exchange rate ruling at that date. Foreign exchange differences arising on translation are recognised in the income statement within financial income or expense, as appropriate. Non-monetary assets that are measured in terms of historical cost in foreign currency are translated using the exchange rate at the date of the transaction.
Borrowing costs
All borrowing related costs are included within the statement of income in the period in which they are incurred using the effective interest method.
Property, plant and equipment
Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:

Asset class and depreciation rate
Land and Buildings
Plant and Machinery33% straight line
Short Leasehold Properties
Investment Properties
Long Leasehold Properties
Commercial Vehicles25% straight line
Fixtures and Fittings
Equipment
Motor Cars
Inventories
Inventories are measured at the lower of cost and net realisable value. Costs of inventories are determined on a first-in-first-out basis. Net realisable value represents the estimated selling price for inventories less all estimated costs necessary to make the sale.
Provisions
Provisions are recognised when the partnership has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. When a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
Employee benefits
Payments to defined contribution retirement benefit plans are recognised as an expense when employees have rendered service entitling them to the contributions.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Going Concern Policy
The going concern has been used. Of the companies liabilities £4,076,940 is owed to a related company PAB Romania SRL and it has been agreed that repayment will not be demanded while such action would adversely affect the company's operations.
This basis has been applied on the continuing support of the creditors. If going concern basis were not appropriate, adjustments would have to be made to restate fixed assets as current assets, reduce the value of the assets to their recoverable amount and to provide for any further liabilities that might arise.

(4) Employees
During the year, the average number of employees including director was 3 (2021 : 40).

(5) Related party transactions
PAB Romania SRL is related party by the virtue of having same directors and shareholders. The balance owed to the related company amounts £4,076,940 as on 31 December 2022.

(6) Fixed assets
Tangible

£
Cost
As at 01 January 202290,846
As at 31 December 202290,846
Depreciation/Amortisation
As at 01 January 202288,564
For the year1,437
As at 31 December 202290,001
Net book value
As at 31 December 2022845
As at 31 December 20212,282