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PANESAR PROPERTIES YORKSHIRE LTD.

Unaudited Financial Statements

for the Year Ended 31 January 2024






PANESAR PROPERTIES YORKSHIRE LTD. (REGISTERED NUMBER: 13869797)

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5

Chartered Accountants' Report 6

PANESAR PROPERTIES YORKSHIRE LTD.

Company Information
for the Year Ended 31 January 2024







DIRECTORS: NS Panesar
Panesar Properties (UK) Ltd
SS Panesar
T S Panesar
Mrs G K Panesar



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



REGISTERED NUMBER: 13869797 (England and Wales)



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



BANKERS: Lloyds Bank Plc
6-7 Park Row
Leeds
West Yorkshire
LS1 1NX

PANESAR PROPERTIES YORKSHIRE LTD. (REGISTERED NUMBER: 13869797)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,914 8,474
Investment property 5 1,182,107 835,194
1,216,021 843,668

CURRENT ASSETS
Cash at bank and in hand 38,619 20,448

CREDITORS
Amounts falling due within one year 6 33,409 16,454
NET CURRENT ASSETS 5,210 3,994
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,221,231

847,662

CREDITORS
Amounts falling due after more than one
year

7

1,105,500

815,000
NET ASSETS 115,731 32,662

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 9 114,731 31,662
SHAREHOLDERS' FUNDS 115,731 32,662

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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:



SS Panesar - Director


PANESAR PROPERTIES YORKSHIRE LTD. (REGISTERED NUMBER: 13869797)

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. STATUTORY INFORMATION

Panesar Properties Yorkshire 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 5 (2023 - 5 ) .

PANESAR PROPERTIES YORKSHIRE LTD. (REGISTERED NUMBER: 13869797)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2023 8,863 1,410 10,273
Additions 27,490 899 28,389
At 31 January 2024 36,353 2,309 38,662
DEPRECIATION
At 1 February 2023 1,329 470 1,799
Charge for year 2,179 770 2,949
At 31 January 2024 3,508 1,240 4,748
NET BOOK VALUE
At 31 January 2024 32,845 1,069 33,914
At 31 January 2023 7,534 940 8,474

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 835,194
Additions 346,913
At 31 January 2024 1,182,107
NET BOOK VALUE
At 31 January 2024 1,182,107
At 31 January 2023 835,194

Included in fair value of investment property is freehold land of £ 50,000 (2023 - £ 0 ) which is not depreciated.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Tenants Bond 4,500 4,500
Tax 15,379 5,669
Directors' loan accounts 3,395 1,320
Accrued expenses 10,135 4,965
33,409 16,454

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Other creditors 107,000 -
Tong Road Motors Limited 28,500 -
Panesar Properties(UK) Ltd 35,000 -
Directors Loan 935,000 815,000
1,105,500 815,000

PANESAR PROPERTIES YORKSHIRE LTD. (REGISTERED NUMBER: 13869797)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
700 Ordinary A £1 700 700
300 Ordinary B £1 300 300
1,000 1,000

9. RESERVES
Retained
earnings
£   

At 1 February 2023 31,662
Profit for the year 83,069
At 31 January 2024 114,731

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Panesar Properties Yorkshire 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 Yorkshire Ltd. for the year ended 31 January 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 Yorkshire Ltd., 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 Panesar Properties Yorkshire Ltd. and state those matters that we have agreed to state to the Board of Directors of Panesar Properties Yorkshire 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 Yorkshire 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 Yorkshire 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 Yorkshire Ltd.. You consider that Panesar Properties Yorkshire 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 Yorkshire 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