IRIS Accounts Production v24.3.0.553 OC344724 designated member designated member 1.4.23 31.3.24 31.3.24 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC3447242023-03-31OC3447242024-03-31OC3447242023-04-012024-03-31OC3447242022-03-31OC3447242022-04-012023-03-31OC3447242023-03-31OC344724ns15:EnglandWales2023-04-012024-03-31OC344724ns14:PoundSterling2023-04-012024-03-31OC344724ns10:PartnerLLP12023-04-012024-03-31OC344724ns10:PartnerLLP22023-04-012024-03-31OC344724ns10:LimitedLiabilityPartnershipLLP2023-04-012024-03-31OC344724ns10:SmallEntities2023-04-012024-03-31OC344724ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31OC344724ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31OC344724ns10:LimitedLiabilityPartnershipsSORP2023-04-012024-03-31OC344724ns10:FullAccounts2023-04-012024-03-31OC344724ns10:PartnerLLP32023-04-012024-03-31OC344724ns10:RegisteredOffice2023-04-012024-03-31OC344724ns5:CurrentFinancialInstruments2024-03-31OC344724ns5:CurrentFinancialInstruments2023-03-31OC344724ns5:Non-currentFinancialInstruments2024-03-31OC344724ns5:Non-currentFinancialInstruments2023-03-31OC344724ns5:LandBuildings2023-03-31OC344724ns5:LandBuildings2023-04-012024-03-31OC344724ns5:LandBuildings2024-03-31OC344724ns5:LandBuildings2023-03-31OC344724ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-31OC344724ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-31
REGISTERED NUMBER: OC344724 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

C. C. Panayi & Co LLP

C. C. Panayi & Co LLP (Registered number: OC344724)






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




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


C. C. Panayi & Co LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: Mr C Panayi
Ms E Panayi
Miss E Charalambous





REGISTERED OFFICE: Ground Floor
31 Kentish Town Road
London
NW1 8NL





REGISTERED NUMBER: OC344724 (England and Wales)






C. C. Panayi & Co LLP (Registered number: OC344724)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,813,450 1,832,950

CURRENT ASSETS
Debtors 5 49,495 23,023
Cash at bank 5,480 60,457
54,975 83,480
CREDITORS
Amounts falling due within one year 6 125,331 133,786
NET CURRENT LIABILITIES (70,356 ) (50,306 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,743,094

1,782,644

CREDITORS
Amounts falling due after more than
one year

7

1,328,273

1,422,555
NET ASSETS ATTRIBUTABLE TO
MEMBERS

414,821

360,089

LOANS AND OTHER DEBTS DUE
TO MEMBERS

9

414,821

360,089

TOTAL MEMBERS' INTERESTS
Loans and other debts due to
members

9

414,821

360,089

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

C. C. Panayi & Co LLP (Registered number: OC344724)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 10 September 2024 and were signed by:




Ms E Panayi - Designated member




Miss E Charalambous - Designated member


C. C. Panayi & Co LLP (Registered number: OC344724)

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

1. STATUTORY INFORMATION

C. C. Panayi & Co LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents rent receivable for the period.

Financial instruments
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade debtors are assessed for impairment at the end of each reporting period and amounts impaired are deducted and charged to the Profit and Loss Account.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised costs using the effective interest method unless the effect of discounting would be immaterial in which case they are stated at cost.

3. EMPLOYEE INFORMATION

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

C. C. Panayi & Co LLP (Registered number: OC344724)

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

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 April 2023
and 31 March 2024 1,950,000
DEPRECIATION
At 1 April 2023 117,050
Charge for year 19,500
At 31 March 2024 136,550
NET BOOK VALUE
At 31 March 2024 1,813,450
At 31 March 2023 1,832,950

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 48,280 19,159
Other debtors 1,215 3,864
49,495 23,023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 110,041 96,000
Trade creditors 5,586 6,352
Taxation and social security 9,704 8,973
Other creditors - 22,461
125,331 133,786

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 1,328,273 1,422,555

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 848,273 942,555

C. C. Panayi & Co LLP (Registered number: OC344724)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 1,424,272 1,518,555

The bank loan is secured by way of a fixed and floating charge over the property owned by the LLP and by personal securities given by the partners.

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with debts due to unsecured creditors in the event of a winding up.