IRIS Accounts Production v24.3.2.46 05888396 Board of Directors 1.4.23 31.3.24 31.3.24 0 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh058883962023-03-31058883962024-03-31058883962023-04-012024-03-31058883962022-03-31058883962022-04-012023-03-31058883962023-03-3105888396ns15:EnglandWales2023-04-012024-03-3105888396ns14:PoundSterling2023-04-012024-03-3105888396ns10:Director12023-04-012024-03-3105888396ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3105888396ns10:SmallEntities2023-04-012024-03-3105888396ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3105888396ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3105888396ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3105888396ns10:AbridgedAccounts2023-04-012024-03-3105888396ns10:OrdinaryShareClass12023-04-012024-03-3105888396ns10:Director22023-04-012024-03-3105888396ns10:CompanySecretary12023-04-012024-03-3105888396ns10:RegisteredOffice2023-04-012024-03-3105888396ns5:CurrentFinancialInstruments2024-03-3105888396ns5:CurrentFinancialInstruments2023-03-3105888396ns5:Non-currentFinancialInstruments2024-03-3105888396ns5:Non-currentFinancialInstruments2023-03-3105888396ns5:ShareCapital2024-03-3105888396ns5:ShareCapital2023-03-3105888396ns5:FurtherSpecificReserve3ComponentTotalEquity2024-03-3105888396ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3105888396ns5:RetainedEarningsAccumulatedLosses2024-03-3105888396ns5:RetainedEarningsAccumulatedLosses2023-03-3105888396ns5:FurnitureFittings2023-04-012024-03-3105888396ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-03-3105888396ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-3105888396ns5:Secured2024-03-3105888396ns5:Secured2023-03-3105888396ns5:DeferredTaxation2023-03-3105888396ns5:DeferredTaxation2024-03-3105888396ns10:OrdinaryShareClass12024-03-3105888396ns5:RetainedEarningsAccumulatedLosses2023-03-3105888396ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3105888396ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-31
REGISTERED NUMBER: 05888396 (England and Wales)














ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PANTELLI INVESTMENTS LIMITED

PANTELLI INVESTMENTS LIMITED (REGISTERED NUMBER: 05888396)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


PANTELLI INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr A Pantelli
Mrs M Pantelli





SECRETARY: Mr A Pantelli





REGISTERED OFFICE: c/o Michael Filiou Ltd
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS





REGISTERED NUMBER: 05888396 (England and Wales)





ACCOUNTANTS: Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS

PANTELLI INVESTMENTS LIMITED (REGISTERED NUMBER: 05888396)

ABRIDGED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 11,015 13,533
Investment property 6 3,400,000 3,400,000
3,411,015 3,413,533

CURRENT ASSETS
Debtors 6,894 5,891
Cash at bank 59,616 76,931
66,510 82,822
CREDITORS
Amounts falling due within one year 46,019 63,517
NET CURRENT ASSETS 20,491 19,305
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,431,506

3,432,838

CREDITORS
Amounts falling due after more than one year 7 (1,575,100 ) (1,606,105 )

PROVISIONS FOR LIABILITIES 9 (279,143 ) (279,143 )
NET ASSETS 1,577,263 1,547,590

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 1,190,359 1,190,359
Retained earnings 11 386,804 357,131
SHAREHOLDERS' FUNDS 1,577,263 1,547,590

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

PANTELLI INVESTMENTS LIMITED (REGISTERED NUMBER: 05888396)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 February 2025 and were signed on its behalf by:





Mr A Pantelli - Director


PANTELLI INVESTMENTS LIMITED (REGISTERED NUMBER: 05888396)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Pantelli Investments 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable by the company.

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

The company's properties are held for long term investment and are included in the Balance Sheet at their open market values. The surplus or deficit on annual revaluation of such properties are transferred to the revaluation reserve. Depreciation is not provided in respect of land and building. Leasehold properties are not amortised where the unexpired term is over twenty years.

The policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The directors consider that this policy is necessary in order that the accounts may give a true and fair view because current values and changes in current values are prime importance rather than the calculation of systematic annual depreciation. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Investment property
Investment property is shown at most recent valuation. 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 Income Statement, 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.


PANTELLI INVESTMENTS LIMITED (REGISTERED NUMBER: 05888396)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. 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.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 70,129
Additions 1,154
At 31 March 2024 71,283
DEPRECIATION
At 1 April 2023 56,596
Charge for year 3,672
At 31 March 2024 60,268
NET BOOK VALUE
At 31 March 2024 11,015
At 31 March 2023 13,533

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 3,400,000
NET BOOK VALUE
At 31 March 2024 3,400,000
At 31 March 2023 3,400,000

PANTELLI INVESTMENTS LIMITED (REGISTERED NUMBER: 05888396)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2017 549,907
Valuation in 2021 900,000
Cost 1,950,093
3,400,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,950,093 1,950,093

Investment properties were valued on open market value basis on 31 March 2021 by directors' valuation .

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable otherwise than by instalments
Bank loans 801,259 707,194

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 881,259 897,194

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 279,143 279,143

Deferred
tax
£   
Balance at 1 April 2023 279,143
Movement in current year
Balance at 31 March 2024 279,143

PANTELLI INVESTMENTS LIMITED (REGISTERED NUMBER: 05888396)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 357,131 1,190,359 1,547,490
Profit for the year 29,673 29,673
At 31 March 2024 386,804 1,190,359 1,577,163

12. RELATED PARTY DISCLOSURES

During the period, the loan owed by the company to Pantelli Associates Limited became owed to Mr & Mrs Pantelli, who are directors and shareholders. No interest is charged on this loan.

13. ULTIMATE CONTROLLING PARTY

The controlling party is the directors, Mr A Pantelli and Mrs M Pantelli.

They control the company by virtue of the fact that they hold 100% of the issued share capital of the company.