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Company Registration No. 14080485 (England and Wales)
Pan Trading Ltd Unaudited accounts for the year ended 31 May 2024
Pan Trading Ltd Unaudited accounts Contents
Page
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Pan Trading Ltd Company Information for the year ended 31 May 2024
Director
Win Ma Ma Han
Company Number
14080485 (England and Wales)
Registered Office
25 Elizabeth Road London N15 5LG
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Pan Trading Ltd Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
17,014 
18,432 
Tangible assets
17,080 
19,697 
34,094 
38,129 
Current assets
Inventories
2,550 
2,000 
Debtors
8,148 
9,692 
Cash at bank and in hand
21,768 
14,216 
32,466 
25,908 
Creditors: amounts falling due within one year
(112,231)
(111,300)
Net current liabilities
(79,765)
(85,392)
Net liabilities
(45,671)
(47,263)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(45,672)
(47,264)
Shareholders' funds
(45,671)
(47,263)
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 February 2025 and were signed on its behalf by
Win Ma Ma Han Director Company Registration No. 14080485
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Pan Trading Ltd Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Pan Trading Ltd is a private company, limited by shares, registered in England and Wales, registration number 14080485. The registered office is 25 Elizabeth Road, London, N15 5LG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on costs
Fixtures & fittings
20% on costs
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Leased assets
Rentals apply to operating leases where substantially all of the benefits and risks of ownership remain with the lessor and are charged against profit on a straight-line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account throughout the lease at a constant proportion of the outstanding balance of capital repayments.
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Pan Trading Ltd Notes to the Accounts for the year ended 31 May 2024
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Going concern
These financial statements have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent upon the continued support from its shareholders and other creditors. If the company was unable to trade, adjustments would have to be made to reduce the value of the assets to their recoverable amounts and to provide further liabilities that might arise. The director believes that with support from the shareholders and creditors continued funding will be provided to support the company whilst it moves towards profitability and to enable it to meet its day-to-day commitments from cashflows. As a consequence, the director believes that the company is well-placed to manage its business risks successfully. As such, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 June 2023
19,850 
At 31 May 2024
19,850 
Amortisation
At 1 June 2023
1,418 
Charge for the year
1,418 
At 31 May 2024
2,836 
Net book value
At 31 May 2024
17,014 
At 31 May 2023
18,432 
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2023
18,504 
6,118 
24,622 
Additions
- 
2,885 
2,885 
At 31 May 2024
18,504 
9,003 
27,507 
Depreciation
At 1 June 2023
3,701 
1,224 
4,925 
Charge for the year
3,701 
1,801 
5,502 
At 31 May 2024
7,402 
3,025 
10,427 
Net book value
At 31 May 2024
11,102 
5,978 
17,080 
At 31 May 2023
14,803 
4,894 
19,697 
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Pan Trading Ltd Notes to the Accounts for the year ended 31 May 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
585 
Accrued income and prepayments
1,023 
1,176 
Other debtors
7,125 
7,931 
8,148 
9,692 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
381 
- 
Trade creditors
2,424 
584 
Taxes and social security
5,045 
1,384 
Other creditors
39,623 
34,471 
Loans from directors
64,365 
68,928 
Accruals
393 
5,933 
112,231 
111,300 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
9
Transactions with related parties
Included in other creditors is an amount of £64,365 (2023: £68,928) owed by the company to Ms W M M Han, a sole director and 100% shareholder of the company.
10
Average number of employees
During the year the average number of employees was 9 (2023: 7).
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