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PANESAR PROPERTIES LTD.

Registered Number
SC242188
(Scotland)

Unaudited Financial Statements for the Period ended
27 February 2024

PANESAR PROPERTIES LTD.
Company Information
for the period from 1 March 2023 to 27 February 2024

Director

PANESAR, Sanjeev Singh

Registered Address

227 West George Street
Glasgow
G2 2ND

Registered Number

SC242188 (Scotland)
PANESAR PROPERTIES LTD.
Balance Sheet as at
27 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3120,000120,000
120,000120,000
Current assets
Debtors439,08147,373
Cash at bank and on hand81727
39,89847,400
Creditors amounts falling due within one year5(71,509)(94,466)
Net current assets (liabilities)(31,611)(47,066)
Total assets less current liabilities88,38972,934
Creditors amounts falling due after one year6(66,877)(69,016)
Net assets21,5123,918
Capital and reserves
Called up share capital22
Profit and loss account21,5103,916
Shareholders' funds21,5123,918
The financial statements were approved and authorised for issue by the Director on 31 January 2025, and are signed on its behalf by:
PANESAR, Sanjeev Singh
Director
Registered Company No. SC242188
PANESAR PROPERTIES LTD.
Notes to the Financial Statements
for the period ended 27 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 March 23120,000
At 27 February 24120,000
Net book value
At 27 February 24120,000
At 28 February 23120,000
4.Debtors: amounts due within one year

2024

2023

££
Other debtors39,08147,373
Total39,08147,373
5.Creditors: amounts due within one year

2024

2023

££
Taxation and social security16,45116,451
Other creditors49,26040,726
Accrued liabilities and deferred income5,79837,289
Total71,50994,466
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts66,87769,016
Total66,87769,016