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PACO PROPERTY INVESTMENT LTD

Registered Number
08892402
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

PACO PROPERTY INVESTMENT LTD
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

Chung Sze Ip
Man Hong Wong
Pak Ho Wong

Registered Address

114 High Street
Cranfield
Bedford
MK43 0DG

Place of Business

92 Maritime Way

Brooklands

Milton Keynes

MK10 7FS


Registered Number

08892402 (England and Wales)
PACO PROPERTY INVESTMENT LTD
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,934,2841,933,750
1,934,2841,933,750
Current assets
Cash at bank and on hand54,90714,416
54,90714,416
Creditors amounts falling due within one year4(1,434,910)(1,437,237)
Net current assets (liabilities)(1,380,003)(1,422,821)
Total assets less current liabilities554,281510,929
Creditors amounts falling due after one year5(500,000)(500,000)
Provisions for liabilities6(13,377)(10,166)
Net assets40,904763
Capital and reserves
Called up share capital22
Profit and loss account40,902761
Shareholders' funds40,904763
The financial statements were approved and authorised for issue by the Board of Directors on 16 September 2024, and are signed on its behalf by:
Man Hong Wong
Director
Registered Company No. 08892402
PACO PROPERTY INVESTMENT LTD
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 March 231,933,7501,933,750
Additions674674
At 29 February 241,934,4241,934,424
Depreciation and impairment
Charge for year140140
At 29 February 24140140
Net book value
At 29 February 241,934,2841,934,284
At 28 February 231,933,7501,933,750
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,434,9101,437,237
Total1,434,9101,437,237
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts500,000500,000
Total500,000500,000
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)13,37710,166
Total13,37710,166