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REGISTERED NUMBER: 07328067 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PANTILES CHAMBERS LIMITED

PANTILES CHAMBERS LIMITED (REGISTERED NUMBER: 07328067)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


PANTILES CHAMBERS LIMITED

COMPANY INFORMATION
For The Year Ended 31 December 2023







DIRECTORS: T Mulvaney
R I Johnson





REGISTERED OFFICE: 1310 Solihull Parkway
Birmingham Business Park
Birmingham
B37 7YB





REGISTERED NUMBER: 07328067 (England and Wales)





ACCOUNTANTS: Banks & Co Limited
Chartered Certified Accountants
1 Carnegie Road
Newbury
Berkshire
RG14 5DJ

PANTILES CHAMBERS LIMITED (REGISTERED NUMBER: 07328067)

ABRIDGED BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 56,648 7,407

CURRENT ASSETS
Debtors 87,965 86,923
Cash at bank 8,312 18,234
96,277 105,157
CREDITORS
Amounts falling due within one year 118,960 102,323
NET CURRENT (LIABILITIES)/ASSETS (22,683 ) 2,834
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,965

10,241

PROVISIONS FOR LIABILITIES 10,763 1,407
NET ASSETS 23,202 8,834

CAPITAL AND RESERVES
Called up share capital 5 100 100
Retained earnings 23,102 8,734
SHAREHOLDERS' FUNDS 23,202 8,834

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

PANTILES CHAMBERS LIMITED (REGISTERED NUMBER: 07328067)

ABRIDGED BALANCE SHEET - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





R I Johnson - Director


PANTILES CHAMBERS LIMITED (REGISTERED NUMBER: 07328067)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Pantiles Chambers 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

For operational reasons, the company year end was extended to 31 December 2022 last year, giving a 17 month period. The comparatives are therefore not entirely comparable.

Going concern
The directors maintain an ongoing review of the company's activities. Working capital in the form of a bank loan is available to the company. The directors are of the opinion that there is sufficient working capital to allow the company to operate for the foreseeable future.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable from the provision of serviced office facilities provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

PANTILES CHAMBERS LIMITED (REGISTERED NUMBER: 07328067)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

During the year, the directors reorganised the asset categories. In addition, the depreciation rate was changed from 25% reducing balance to write off the cost or valuation of assets less their residual values over their useful lives.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.


Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cashflows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cashflows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

PANTILES CHAMBERS LIMITED (REGISTERED NUMBER: 07328067)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price, including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
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.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held on call with banks.

PANTILES CHAMBERS LIMITED (REGISTERED NUMBER: 07328067)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 43,169
Additions 60,941
At 31 December 2023 104,110
DEPRECIATION
At 1 January 2023 35,762
Charge for year 11,700
At 31 December 2023 47,462
NET BOOK VALUE
At 31 December 2023 56,648
At 31 December 2022 7,407

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

6. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. At the year end £nil (2022 - £nil) was outstanding.

7. OTHER FINANCIAL COMMITMENTS

Contracted but not provided for in the financial statements £335,921 (2022 - £381,595).

PANTILES CHAMBERS LIMITED (REGISTERED NUMBER: 07328067)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023

8. ULTIMATE CONTROLLING PARTY

The controlling party is Inigo Business Centres Limited.

Inigo Business Centres Limited has its registered office at:
1310 Solihull Parkway
Birmingham Business Park
Birmingham
England
B37 7YB

The ultimate controlling party is UBC Holdings Ltd.

UBC Holdings Ltd has its registered office at:
1310 Solihull Parkway
Birmingham Business Park
Birmingham
England
B37 7YB