Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseParent Company34falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12266581 2023-04-01 2024-03-31 12266581 2022-04-01 2023-03-31 12266581 2024-03-31 12266581 2023-03-31 12266581 c:Director1 2023-04-01 2024-03-31 12266581 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 12266581 d:Buildings d:LongLeaseholdAssets 2024-03-31 12266581 d:Buildings d:LongLeaseholdAssets 2023-03-31 12266581 d:CurrentFinancialInstruments 2024-03-31 12266581 d:CurrentFinancialInstruments 2023-03-31 12266581 d:Non-currentFinancialInstruments 2024-03-31 12266581 d:Non-currentFinancialInstruments 2023-03-31 12266581 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 12266581 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12266581 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 12266581 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 12266581 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 12266581 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 12266581 d:ShareCapital 2024-03-31 12266581 d:ShareCapital 2023-03-31 12266581 d:RetainedEarningsAccumulatedLosses 2024-03-31 12266581 d:RetainedEarningsAccumulatedLosses 2023-03-31 12266581 c:FRS102 2023-04-01 2024-03-31 12266581 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12266581 c:FullAccounts 2023-04-01 2024-03-31 12266581 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12266581 6 2023-04-01 2024-03-31 12266581 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 12266581









PANDA SUPPORT SERVICES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
PANDA SUPPORT SERVICES LIMITED
REGISTERED NUMBER: 12266581

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,187,755
1,187,755

Investments
 5 
4
4

  
1,187,759
1,187,759

Current assets
  

Debtors: amounts falling due within one year
 6 
-
11,500

Cash at bank and in hand
  
66
31

  
66
11,531

Creditors: amounts falling due within one year
 7 
(1,085,440)
(219,035)

Net current liabilities
  
 
 
(1,085,374)
 
 
(207,504)

Total assets less current liabilities
  
102,385
980,255

Creditors: amounts falling due after more than one year
 8 
-
(900,917)

  

Net assets
  
102,385
79,338


Capital and reserves
  

Called up share capital 
  
104
104

Profit and loss account
  
102,281
79,234

  
102,385
79,338


Page 1

 
PANDA SUPPORT SERVICES LIMITED
REGISTERED NUMBER: 12266581
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 November 2024.




J S Perez Castrillon
Director


The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
PANDA SUPPORT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Panda Support Services Limited (the 'Company') is a private Company limited by shares, incorporated in England and Wales. The registered office is Unit 5a 445 Caledonian Road, London, England, N7 9BG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to the Statement of income and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in the Statement of income and retained earnings in the year in which they are incurred.

Page 3

 
PANDA SUPPORT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in the Statement of income and retained earnings except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Long-term leasehold property
-
Not depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Debtors

Short term debtors are measured at transaction price, less any impairment.

Page 4

 
PANDA SUPPORT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 4).

Page 5

 
PANDA SUPPORT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Long-term leasehold property

£



Cost


At 1 April 2023
1,187,755



At 31 March 2024

1,187,755






Net book value



At 31 March 2024
1,187,755



At 31 March 2023
1,187,755




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Long leasehold
1,187,755
1,187,755



5.


Fixed asset investments





Investments in subsidiary companies

£



Cost 


At 1 April 2023
4



At 31 March 2024
4




Page 6

 
PANDA SUPPORT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
-
11,500



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
898,698
67,395

Amounts owed to group undertakings
161,824
123,399

Corporation tax
16,248
18,324

Other taxation and social security
6,017
5,567

Accruals
2,653
4,350

1,085,440
219,035



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
900,917


Page 7

 
PANDA SUPPORT SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
898,698
67,395

Amounts falling due 1-2 years

Bank loans
-
900,917



898,698
968,312


The bank loan is secured by way of a fixed charge against the Leasehold property of the Company. 


10.Directors' personal guarantees

Certain directors have provided a personal guarantee over a loan balance of £898,698 (2023 -  £968,312).

 
Page 8