Pan RF Group Limited
Registered number: 10065995
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 8,282 15,868
Current assets
Debtors 4 155,506 89,623
Cash at bank and in hand 22,972 39,926
178,478 129,549
Creditors: amounts falling due within one year 5 (172,736) (103,336)
Net current assets 5,742 26,213
Total assets less current liabilities 14,024 42,081
Creditors: amounts falling due after more than one year 6 (12,993) (22,996)
Net assets 1,031 19,085
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 31 18,085
Shareholders' funds 1,031 19,085
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Hulley
Director
Approved by the board on 28 October 2024
Pan RF Group Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Test equipment and office equipment over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 7
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 132,369
Additions 521
At 31 March 2024 132,890
Depreciation
At 1 April 2023 116,501
Charge for the year 8,107
At 31 March 2024 124,608
Net book value
At 31 March 2024 8,282
At 31 March 2023 15,868
4 Debtors 2024 2023
£ £
Trade debtors 137,383 82,387
Other debtors 18,123 7,236
155,506 89,623
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 46,964 8,349
Corporation tax 17,998 1,954
Other taxes and social security costs 92,901 78,835
Other creditors 4,873 4,198
172,736 103,336
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,993 22,996
7 Controlling party
The controlling party is Mr R Hulley by virtue of his majority shareholding.
8 Other information
Pan RF Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
16 Brockwood Close
Gamlingay
Sandy
SG19 3EG
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