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Company No: 00450732 (England and Wales)

PANTER AND SON LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

PANTER AND SON LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

PANTER AND SON LIMITED

COMPANY INFORMATION

For the financial year ended 31 January 2024
PANTER AND SON LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2024
DIRECTOR Mr R Panter
REGISTERED OFFICE Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom
COMPANY NUMBER 00450732 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
PANTER AND SON LIMITED

BALANCE SHEET

As at 31 January 2024
PANTER AND SON LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 877 0
Investment property 4 250,000 250,000
Investments 5 970 970
251,847 250,970
Current assets
Debtors 6 277,650 271,626
Cash at bank and in hand 6,880 14,064
284,530 285,690
Creditors: amounts falling due within one year 7 ( 77,260) ( 96,860)
Net current assets 207,270 188,830
Total assets less current liabilities 459,117 439,800
Net assets 459,117 439,800
Capital and reserves
Called-up share capital 8 77,990 77,990
Revaluation reserve 116,484 116,484
Capital redemption reserve 106,800 88,000
Profit and loss account 157,843 157,326
Total shareholders' funds 459,117 439,800

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Panter and Son Limited (registered number: 00450732) were approved and authorised for issue by the Director on 09 August 2024. They were signed on its behalf by:

Mr R Panter
Director
PANTER AND SON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
PANTER AND SON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Panter and Son Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of, returns, rebates and discounts and after eliminating sales within the company.

Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Fixtures and fittings 4 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 February 2023 2,621 2,621
Additions 1,138 1,138
At 31 January 2024 3,759 3,759
Accumulated depreciation
At 01 February 2023 2,621 2,621
Charge for the financial year 261 261
At 31 January 2024 2,882 2,882
Net book value
At 31 January 2024 877 877
At 31 January 2023 0 0

4. Investment property

Investment property
£
Valuation
As at 01 February 2023 250,000
As at 31 January 2024 250,000

The investment property has been valued by the director, no independent valuation has been carried out during the year.

5. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 February 2023 970 970
At 31 January 2024 970 970
Carrying value at 31 January 2024 970 970
Carrying value at 31 January 2023 970 970

6. Debtors

2024 2023
£ £
Trade debtors 277,650 271,626

7. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 3,060 3,860
Other creditors 74,200 93,000
77,260 96,860

During the year, 188 (2023: 200) Preference shares were redeemed at their nominal value of £100 each for consideration of £18,800 (2023: £20,000).

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
20,000 A ordinary shares of £ 1.00 each 20,000 20,000
24 B ordinary shares of £ 1.00 each 24 24
8 C ordinary shares of £ 1.00 each 8 8
50 D ordinary shares of £ 25.00 each 1,250 1,250
56,708 E ordinary shares of £ 1.00 each 56,708 56,708
77,990 77,990

Rights, preferences and restrictions

The A, B, C and D ordinary shares all carry the same rights and privileges and rank pari passu in all respects except that on winding up, the B, C and D ordinary shares shall be entitled to receive only a return at par. The holders of A, B, C and D ordinary shares shall be entitled to vote at meetings. In respect of dividends the directors shall not be bound to treat the A, B, C and D ordinary shares in the same manner.

The E ordinary shares have a right to a fixed cumulative preference dividend at the rate of 7% per annum on the capital. On winding up or other return of capital the shareholder is entitled to the amount paid and any arrears on the fixed dividends. The ordinary E shares do not carry an entitlement to vote at meetings.

The redeemable preference shares have a right to a fixed cumulative preference dividend at the rate of 7% per annum on the capital. On winding up or other return of capital the shareholder is entitled to the amount paid and any arrears on the fixed dividends. The right to vote at any meeting of the company carries one vote for each redeemable preference share. The holder of the preference share or the company has the right at any time after the anniversary of the date of allotment to redemption at par.