Company registration number 04367082 (England and Wales)
PAGAN PROPERTY SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
PAGAN PROPERTY SERVICES LIMITED
COMPANY INFORMATION
Directors
Mrs A E Pagan
Mr T C Pagan
Secretary
Mrs A E Pagan
Company number
04367082
Registered office
Holly House
38 Butterwick Close
Barnt Green
Worcestershire
B45 8BF
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Lloyds Bank Plc
4 The Cross
Worcester
Worcestershire
WR1 3PY
PAGAN PROPERTY SERVICES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
PAGAN PROPERTY SERVICES LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PAGAN PROPERTY SERVICES LIMITED FOR THE PERIOD ENDED 30 JUNE 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pagan Property Services Limited for the period ended 30 June 2024 which comprise, the 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 at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Pagan Property Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pagan Property Services Limited and state those matters that we have agreed to state to the board of directors of Pagan Property Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pagan Property Services Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Pagan Property Services Limited 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 loss of Pagan Property Services Limited. You consider that Pagan Property Services Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Pagan Property Services Limited. 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.

Ormerod Rutter Limited
19 September 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
PAGAN PROPERTY SERVICES LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 2 -
30 June 2024
31 March 2024
Notes
£
£
£
£
Fixed assets
Investments
4
-
0
91,678
Current assets
Cash at bank and in hand
1,772
9,746
Creditors: amounts falling due within one year
5
(645)
(8,761)
Net current assets
1,127
985
Net assets
1,127
92,663
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
1,125
92,661
Total equity
1,127
92,663

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 19 September 2024 and are signed on its behalf by:
Mr T C Pagan
Director
Company registration number 04367082 (England and Wales)
PAGAN PROPERTY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

Pagan Property Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Holly House, 38 Butterwick Close, Barnt Green, Worcestershire, United Kingdom, B45 8BF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
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.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
33% on cost

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.

1.3
Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

PAGAN PROPERTY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2024
Number
Number
Total
2
2
3
Tangible fixed assets
Computer equipment
£
Cost
At 1 April 2024
594
Disposals
(594)
At 30 June 2024
-
0
Depreciation and impairment
At 1 April 2024
594
Eliminated in respect of disposals
(594)
At 30 June 2024
-
0
Carrying amount
At 30 June 2024
-
0
At 31 March 2024
-
0
PAGAN PROPERTY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 5 -
4
Fixed asset investments
2024
2024
£
£
Other investments other than loans
-
0
91,678
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2024
91,678
Disposals
(91,678)
At 30 June 2024
-
Carrying amount
At 30 June 2024
-
At 31 March 2024
91,678
5
Creditors: amounts falling due within one year
2024
2024
£
£
Trade creditors
-
0
156
Other creditors
645
8,605
645
8,761
6
Called up share capital
2024
2024
2024
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
2
2
2
2
7
Ultimate controlling party

The ultimate controlling party is Mr T C Pagan and Mrs A E Pagan.

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