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REGISTERED NUMBER: 12472807 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Pan Iberia Limited

Pan Iberia Limited (Registered number: 12472807)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Pan Iberia Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: J R Dewhurst
R D Kiefer
H R Pein
M J Scott





REGISTERED OFFICE: Flat 18
2 Park Hill Drive
Cobham
Surrey
KT11 2FN





REGISTERED NUMBER: 12472807 (England and Wales)





ACCOUNTANTS: CWF & Partners Ltd
Chartered Accountants
67 Westow Street
Upper Norwood
London
SE19 3RW

Pan Iberia Limited (Registered number: 12472807)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Investments 5 133,759 133,759

CURRENT ASSETS
Debtors 6 890,782 515,611

CREDITORS
Amounts falling due within one year 7 1,125,504 714,655
NET CURRENT LIABILITIES (234,722 ) (199,044 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(100,963

)

(65,285

)

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 (101,063 ) (65,385 )
SHAREHOLDERS' FUNDS (100,963 ) (65,285 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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 14 November 2024 and were signed on its behalf by:





J R Dewhurst - Director


Pan Iberia Limited (Registered number: 12472807)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Pan Iberia 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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.

4. EMPLOYEES AND DIRECTORS

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

5. FIXED ASSET INVESTMENTS

29.2.24 28.2.23
£    £   
Shares in group undertakings 100 100
Other investments not loans 133,659 133,659
133,759 133,759

Pan Iberia Limited (Registered number: 12472807)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 100
NET BOOK VALUE
At 29 February 2024 100
At 28 February 2023 100

Investments (neither listed nor unlisted) were as follows:
29.2.24 28.2.23
£    £   
Villa Verde Project 133,659 133,659

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Panmetals Unipesssoal Lda
Registered office: Portugal
Nature of business: Mining
%
Class of shares: holding
Ordinary 100.00
30.6.23 30.6.22
£    £   
Aggregate capital and reserves (325,453 ) (225,323 )
Loss for the year (78,091 ) (40,769 )

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Amounts owed by group undertakings 773,219 411,064
Other debtors 117,563 104,547
890,782 515,611

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Amounts owed to group undertakings 724,962 708,295
Other creditors 395,982 -
Accruals and deferred income 4,560 6,360
1,125,504 714,655

Pan Iberia Limited (Registered number: 12472807)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 March 2023 (65,385 )
Deficit for the year (35,678 )
At 29 February 2024 (101,063 )