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14/11/2022
31/03/2024
2024-03-31
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No description of principal activities is disclosed
2022-11-14
Sage Accounts Production 23.0 - FRS102_2023
xbrli:pure
xbrli:shares
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14483316
2022-11-14
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14483316
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14483316
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14483316
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2024-03-31
14483316
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14483316
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14483316
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2024-03-31
14483316
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14483316
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14483316
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2024-03-31
14483316
core:SharePremium
2022-11-14
2024-03-31
14483316
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2022-11-14
2024-03-31
14483316
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14483316
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14483316
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14483316
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14483316
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14483316
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14483316
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2024-03-31
14483316
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14483316
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2024-03-31
Company registration number:
14483316
Pavo Indus Ltd
Unaudited filleted financial statements
31 March 2024
Pavo Indus Ltd
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Pavo Indus Ltd
Directors and other information
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Directors |
Ms Priyadarshini Pradhan |
(Appointed 14 November 2022) |
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Mr Jitesh Dhanecha |
(Appointed 14 November 2022) |
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Company number |
14483316 |
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Registered office |
Flat 1, Sharp House |
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32 Clevendon Road |
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Twickenham |
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England |
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TW1 2TQ |
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Accountants |
Nagle James Associates Limited |
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4th Floor, Amba House |
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15 College Road |
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Harrow |
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HA1 1BA |
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Pavo Indus Ltd
Statement of financial position
31 March 2024
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31/03/24 |
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Note |
£ |
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£ |
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Fixed assets |
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Investments |
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5 |
9,227,000 |
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_______ |
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9,227,000 |
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Current assets |
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Cash at bank and in hand |
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79,695 |
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_______ |
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79,695 |
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Creditors: amounts falling due |
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within one year |
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6 |
(
788,862) |
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_______ |
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Net current liabilities |
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(
709,167) |
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_______ |
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Total assets less current liabilities |
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8,517,833 |
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Creditors: amounts falling due |
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after more than one year |
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7 |
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(
4,921,403) |
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_______ |
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Net assets |
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3,596,430 |
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_______ |
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Capital and reserves |
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Called up share capital |
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100 |
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Share premium account |
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3,764,544 |
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Profit and loss account |
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(
168,214) |
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_______ |
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Shareholders funds |
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3,596,430 |
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_______ |
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For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
14 August 2024
, and are signed on behalf of the board by:
Ms Priyadarshini Pradhan
Mr Jitesh Dhanecha
Director
Director
Company registration number:
14483316
Pavo Indus Ltd
Statement of changes in equity
Period ended 31 March 2024
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Called up share capital |
Share premium account |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
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At 14 November 2022 |
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- |
- |
- |
- |
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Loss for the period |
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(
168,214) |
(
168,214) |
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_______ |
_______ |
_______ |
_______ |
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Total comprehensive income for the period |
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- |
- |
(
168,214) |
(
168,214) |
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Issue of shares |
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100 |
3,764,544 |
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3,764,644 |
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_______ |
_______ |
_______ |
_______ |
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Total investments by and distributions to owners |
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100 |
3,764,544 |
- |
3,764,644 |
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_______ |
_______ |
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_______ |
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At 31 March 2024 |
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100 |
3,764,544 |
(
168,214) |
3,596,430 |
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_______ |
_______ |
_______ |
_______ |
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Pavo Indus Ltd
Notes to the financial statements
Period ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Flat 1, Sharp House, 32 Clevendon Road, Twickenham, England, TW1 2TQ.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents rent receviable in respect of investment properties.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
1
5.
Investments
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Other investments other than loans |
Total |
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£ |
£ |
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Cost |
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At 14 November 2022 |
- |
- |
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Additions |
9,702,000 |
9,702,000 |
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Disposals |
(
475,000) |
(
475,000) |
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_______ |
_______ |
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At 31 March 2024 |
9,227,000 |
9,227,000 |
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_______ |
_______ |
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Impairment |
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At 14 November 2022 and 31 March 2024 |
- |
- |
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_______ |
_______ |
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Carrying amount |
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At 31 March 2024 |
9,227,000 |
9,227,000 |
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_______ |
_______ |
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The company is the beneficial owner of all the previous partnership properties as shown above and the legal title is in the process of being transferred. The investment properties have been valued by the directors on an open market value basis as at 31 Mar 2024.
6.
Creditors: amounts falling due within one year
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31/03/24 |
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£ |
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Accruals and deferred income |
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8,160 |
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Director loan accounts |
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780,702 |
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_______ |
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788,862 |
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_______ |
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7.
Creditors: amounts falling due after more than one year
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31/03/24 |
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£ |
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Bank loans and overdrafts |
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4,921,403 |
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_______ |
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Bank loans are secured by way of charge over its properties.
8.
Charge on assets
The company has given a charge over its properties.
9.
Directors advances, credits and guarantees
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During the period the directors entered into the following advances and credits with the company: |
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Period ended 31/03/24 |
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Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
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£ |
£ |
£ |
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Ms Priyadarshini Pradhan |
- |
(
443,351) |
(
443,351) |
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Mr Jitesh Dhanecha |
- |
(
337,351) |
(
337,351) |
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_______ |
_______ |
_______ |
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- |
(
780,702) |
(
780,702) |
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_______ |
_______ |
_______ |
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