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Registration number: 10728110

Pan India Lifestyles UK Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 July 2024

 

Pan India Lifestyles UK Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Pan India Lifestyles UK Limited

Company Information

Directors

Amrita Mitra

Ms Aayushi Bhadra

Registered office

Rowley Manor Hotel
Rowley Road
Little Weighton, Cottingham
North Humberside
HU20 3XR

Accountants

Jani Taylor Associates Limited
7 Marsh Close
Mill Hill
London
NW7 4NY

 

Pan India Lifestyles UK Limited

(Registration number: 10728110)
Abridged Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

50,310

-

Tangible assets

5

1,563,036

1,563,036

 

1,613,346

1,563,036

Current assets

 

Debtors

-

66,500

Cash at bank and in hand

 

9,104

10,167

 

9,104

76,667

Creditors: Amounts falling due within one year

(504,884)

(803,762)

Net current liabilities

 

(495,780)

(727,095)

Total assets less current liabilities

 

1,117,566

835,941

Creditors: Amounts falling due after more than one year

(585,249)

(45,413)

Net assets

 

532,317

790,528

Capital and reserves

 

Called up share capital

6

955,100

955,100

Retained earnings

(422,783)

(164,572)

Shareholders' funds

 

532,317

790,528

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Pan India Lifestyles UK Limited

(Registration number: 10728110)
Abridged Balance Sheet as at 31 July 2024

Approved and authorised by the Board on 5 November 2024 and signed on its behalf by:
 

.........................................
Amrita Mitra
Director

.........................................
Ms Aayushi Bhadra
Director

 

Pan India Lifestyles UK Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Rowley Manor Hotel
Rowley Road
Little Weighton, Cottingham
North Humberside
HU20 3XR
United Kingdom

These financial statements were authorised for issue by the Board on 5 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Pan India Lifestyles UK Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land and buildings

Not depreciated

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Intangible asset

Straight line basis over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Pan India Lifestyles UK Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Pan India Lifestyles UK Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

4

Intangible assets

Total
£

Cost or valuation

Revaluations

55,900

At 31 July 2024

55,900

Amortisation

Amortisation charge

5,590

At 31 July 2024

5,590

Carrying amount

At 31 July 2024

50,310

5

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 August 2023

1,563,036

1,563,036

At 31 July 2024

1,563,036

1,563,036

Depreciation

Carrying amount

At 31 July 2024

1,563,036

1,563,036

At 31 July 2023

1,563,036

1,563,036

Included within the net book value of land and buildings above is £1,563,036 (2023 - £1,563,036) in respect of freehold land and buildings.
 

6

Share capital

Allotted, called up and fully paid shares

 

Pan India Lifestyles UK Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 July 2024

2024

2023

No.

£

No.

£

Ordinary of £1 each

835,000

835,000

835,000

835,000

Ordinary B of £1 each

100

100

100

100

Preference of £100 each

1,200

120,000

1,200

120,000

836,300

955,100

836,300

955,100

7

Related party transactions

Loans from related parties

2024

Key management
£

Other related parties
£

Total
£

At start of period

48,420

5,000

53,420

Advanced

136,700

254,900

391,600

Repaid

(13,588)

-

(13,588)

At end of period

171,532

259,900

431,432

2023

Key management
£

Other related parties
£

Total
£

Advanced

48,420

5,000

53,420

At end of period

48,420

5,000

53,420

Terms of loans from related parties

Sums advanced by Ms Amrita Mitra, director and shareholder - £171,532 (2023 - £48,420). The loan is interest free and repayable on demand.
 Loans from shareholders -
Mr Sajjan Kumar Naredi - £190,000
Mr Rahul Naredi - £19,900
Ms Ankita Naredi - £50,000 (2023 - £5,000).
The above loans are interest free and repayable on demand.