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PANESAR PROPERTIES (UK) LTD.

Unaudited Financial Statements

for the Year Ended 30 April 2024






PANESAR PROPERTIES (UK) LTD. (REGISTERED NUMBER: 08861312)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5

Chartered Accountants' Report 6

PANESAR PROPERTIES (UK) LTD.

Company Information
for the Year Ended 30 April 2024







DIRECTORS: T S Panesar
NS Panesar
SS Panesar
Mrs G K Panesar



REGISTERED OFFICE: 4 Northwest Business Park
Servia Hill
Leeds
West Yorkshire
LS6 2QH



REGISTERED NUMBER: 08861312 (England and Wales)



ACCOUNTANTS: Botros & Co
Chartered Accountants
4 Northwest Business Park
Servia Hill
Leeds
West Yorkshire
LS6 2QH



BANKERS: Lloyds Bank plc
6 Park Row Branch
Leeds
West Yorkshire
LS1 5HD

PANESAR PROPERTIES (UK) LTD. (REGISTERED NUMBER: 08861312)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,228,506 1,754,331

CURRENT ASSETS
Debtors 5 35,725 2,042
Cash at bank and in hand 23,819 14,942
59,544 16,984
CREDITORS
Amounts falling due within one year 6 163,379 151,230
NET CURRENT LIABILITIES (103,835 ) (134,246 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,124,671

1,620,085

CREDITORS
Amounts falling due after more than one
year

7

1,917,524

1,449,901
NET ASSETS 207,147 170,184

CAPITAL AND RESERVES
Called up share capital 9 200 200
Retained earnings 10 206,947 169,984
SHAREHOLDERS' FUNDS 207,147 170,184

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 October 2024 and were signed on its behalf by:




NS Panesar - Director


PANESAR PROPERTIES (UK) LTD. (REGISTERED NUMBER: 08861312)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

Panesar Properties (UK) Ltd. 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.

Turnover
The turnover represents rent receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

PANESAR PROPERTIES (UK) LTD. (REGISTERED NUMBER: 08861312)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and Computer
property property fittings equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 1,590,873 114,212 75,400 1,500 1,781,985
Additions 438,535 32,700 12,560 - 483,795
At 30 April 2024 2,029,408 146,912 87,960 1,500 2,265,780
DEPRECIATION
At 1 May 2023 - - 27,154 500 27,654
Charge for year - - 9,121 499 9,620
At 30 April 2024 - - 36,275 999 37,274
NET BOOK VALUE
At 30 April 2024 2,029,408 146,912 51,685 501 2,228,506
At 30 April 2023 1,590,873 114,212 48,246 1,000 1,754,331

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 725 2,042
Panesar Propert. Yorkshire Ltd 35,000 -
35,725 2,042

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 34,712 34,712
Trade creditors - 1
Tenants bond 6,250 2,650
Tax 7,904 5,464
Directors' loan accounts 98,555 89,863
Accrued expenses 15,958 18,540
163,379 151,230

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans more 5 yr by instal 290,324 302,701
Loans 320,000 170,000
Director loan account 1,307,200 977,200
1,917,524 1,449,901

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 290,324 302,701

PANESAR PROPERTIES (UK) LTD. (REGISTERED NUMBER: 08861312)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 325,036 337,413

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
200 Ordinary £1 200 200

10. RESERVES
Retained
earnings
£   

At 1 May 2023 169,984
Profit for the year 36,963
At 30 April 2024 206,947

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Panesar Properties (UK) Ltd.


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Panesar Properties (UK) Ltd. for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Panesar Properties (UK) Ltd., as a body, in accordance with the terms of our engagement letter dated 24 January 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Panesar Properties (UK) Ltd. and state those matters that we have agreed to state to the Board of Directors of Panesar Properties (UK) Ltd., as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Panesar Properties (UK) Ltd. and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Panesar Properties (UK) Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Panesar Properties (UK) Ltd.. You consider that Panesar Properties (UK) Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Panesar Properties (UK) Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Botros & Co
Chartered Accountants
4 Northwest Business Park
Servia Hill
Leeds
West Yorkshire
LS6 2QH


3 October 2024