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REGISTERED NUMBER: 01404200 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

PANARC INTERNATIONAL LIMITED

PANARC INTERNATIONAL LIMITED (REGISTERED NUMBER: 01404200)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

PANARC INTERNATIONAL LIMITED

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTORS: Mrs J Gelson
Mr P Georgiou



SECRETARY: Mrs J Gelson



REGISTERED OFFICE: 10 St Ann Street
Salisbury
Wiltshire
SP1 2DN



REGISTERED NUMBER: 01404200 (England and Wales)



ACCOUNTANTS: Rothmans LLP
10 St Ann Street
Salisbury
Wiltshire
SP1 2DN



BANKERS: NatWest
Ealing
1 The Mall
Ealing
London
W5 2PL

PANARC INTERNATIONAL LIMITED (REGISTERED NUMBER: 01404200)

BALANCE SHEET
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 830 1,107
Investment property 6 69,000 69,000
69,830 70,107

CURRENT ASSETS
Debtors 7 377 756
Cash at bank and in hand 1,825 6,456
2,202 7,212
CREDITORS
Amounts falling due within one year 8 3,754 6,447
NET CURRENT (LIABILITIES)/ASSETS (1,552 ) 765
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,278

70,872

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 68,178 70,772
68,278 70,872

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 January 2025 and were signed on its behalf by:





Mr P Georgiou - Director


PANARC INTERNATIONAL LIMITED (REGISTERED NUMBER: 01404200)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024

1. STATUTORY INFORMATION

Panarc International 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. 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable for the provision of publishing and marketing services.

Revenue is recognised when the work is completed in accordance with the clients specifications or the quote provided by the company ahead of the commencement of works, at which time the significant risks and rewards of ownership have passed to the client.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The assets' residual values, useful lives and amortisation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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.

Investment property
Investment property is shown at its most recent valuation. This valuation was undertaken by the director based on their knowledge of the area and similar property. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


PANARC INTERNATIONAL LIMITED (REGISTERED NUMBER: 01404200)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

Debtors
Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Cash and cash equivalents
These comprise cash at bank and other short-term highly liquid bank deposits.

Creditors
Creditors are not interest bearing and are stated at their nominal value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 50,000
AMORTISATION
At 1 May 2023
and 30 April 2024 50,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 56,210
DEPRECIATION
At 1 May 2023 55,103
Charge for year 277
At 30 April 2024 55,380
NET BOOK VALUE
At 30 April 2024 830
At 30 April 2023 1,107

PANARC INTERNATIONAL LIMITED (REGISTERED NUMBER: 01404200)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 69,000
NET BOOK VALUE
At 30 April 2024 69,000
At 30 April 2023 69,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors 377 756

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other creditors 3,754 6,447

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PANARC INTERNATIONAL LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Panarc International Limited for the year ended 30 April 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Panarc International Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Panarc International Limited and state those matters that we have agreed to state to the Board of Directors of Panarc International Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Panarc International Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Panarc International Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Panarc International Limited. You consider that Panarc International Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Panarc International Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Rothmans LLP
10 St Ann Street
Salisbury
Wiltshire
SP1 2DN


23 January 2025