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REGISTERED NUMBER: 08193358 (England and Wales)















Pansul Group Limited

Unaudited Financial Statements for the Year Ended 29 February 2024






Pansul Group Limited (Registered number: 08193358)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pansul Group Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: N Nicolas
M P O'Sullivan





REGISTERED OFFICE: 97 Judd Street
London
WC1H 9JG





REGISTERED NUMBER: 08193358 (England and Wales)





ACCOUNTANTS: Chris Syrimis & Co
Chartered Certified Accountants
97 Judd Street
London
WC1H 9JG

Pansul Group Limited (Registered number: 08193358)

Balance Sheet
29 February 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,383,705 1,873,957

CURRENT ASSETS
Debtors 5 686,114 352,624
Cash at bank 11,993 36,110
698,107 388,734
CREDITORS
Amounts falling due within one year 6 227,645 470,995
NET CURRENT ASSETS/(LIABILITIES) 470,462 (82,261 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,854,167

1,791,696

CREDITORS
Amounts falling due after more than one
year

7

(1,501,087

)

(1,393,112

)

PROVISIONS FOR LIABILITIES (75,030 ) (75,030 )
NET ASSETS 278,050 323,554

Pansul Group Limited (Registered number: 08193358)

Balance Sheet - continued
29 February 2024

29/2/24 28/2/23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 319,863 319,863
Retained earnings (41,913 ) 3,591
278,050 323,554

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 August 2024 and were signed on its behalf by:




M P O'Sullivan - Director



N Nicolas - Director


Pansul Group Limited (Registered number: 08193358)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Pansul Group 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.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Pansul Group Limited (Registered number: 08193358)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 1,873,957
Disposals (490,252 )
At 29 February 2024 1,383,705
NET BOOK VALUE
At 29 February 2024 1,383,705
At 28 February 2023 1,873,957

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2024 394,893
Cost 988,812
1,383,705

If investment property had not been revalued it would have been included at the following historical cost:

29/2/24 28/2/23
£    £   
Cost 988,812 1,479,064

Investment property was valued on an open market basis on 29 February 2024 by the directors .

During the year the company transferred one of its properties to Pansul Investments Ltd, a 100% subsidiary company at cost for £490,252.

5. DEBTORS
29/2/24 28/2/23
£    £   
Amounts falling due within one year:
Trade debtors 14,035 9,215
Other debtors 170,731 273,733
Directors' current accounts 69,676 69,676
254,442 352,624

Pansul Group Limited (Registered number: 08193358)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. DEBTORS - continued
29/2/24 28/2/23
£    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings 431,672 -

Aggregate amounts 686,114 352,624

The company charges 2.5% interest per annum on directors loans shown above.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Trade creditors 12,154 -
Amounts owed to associates 180,000 340,000
Taxation and social security 31,549 47,080
Other creditors 3,942 83,915
227,645 470,995

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans 1,060,834 987,859
Other creditors 440,253 405,253
1,501,087 1,393,112

Amounts falling due in more than five years:

Repayable by instalments
Paragon Loan 5+ yrs 378,875 378,875

8. SECURED DEBTS

The following secured debts are included within creditors:

29/2/24 28/2/23
£    £   
Bank loans 1,060,834 987,859