Company Registration No. 07695808 (England and Wales)
PANDY PARTNERSHIP LIMITED
Unaudited accounts
for the year ended 31 July 2024
PANDY PARTNERSHIP LIMITED
Unaudited accounts
Contents
PANDY PARTNERSHIP LIMITED
Company Information
for the year ended 31 July 2024
Directors
Mrs P. Eden-Parish
Mr A.C. Parish
Secretary
Mrs P. Eden-Parish
Company Number
07695808 (England and Wales)
Registered Office
110 High Street
Tetsworth
Nr Thame
Oxon
OX9 7AE
United Kingdom
Accountants
Stephen Beard Accountancy Services
10 Cheshire Road
Thame
Oxon
OX9 3LQ
PANDY PARTNERSHIP LIMITED
Statement of financial position
as at 31 July 2024
Tangible assets
23,431
20,924
Cash at bank and in hand
37,286
36,883
Creditors: amounts falling due within one year
(30,928)
(26,500)
Net current assets
21,692
23,050
Total assets less current liabilities
45,123
43,974
Creditors: amounts falling due after more than one year
(16,895)
(15,636)
Provisions for liabilities
Deferred tax
(4,452)
(3,976)
Called up share capital
100
100
Profit and loss account
23,676
24,262
Shareholders' funds
23,776
24,362
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 of Directors and authorised for issue on 6 March 2025 and were signed on its behalf by
Mrs P. Eden-Parish
Director
Company Registration No. 07695808
PANDY PARTNERSHIP LIMITED
Notes to the Accounts
for the year ended 31 July 2024
PANDY PARTNERSHIP LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07695808. The registered office is 110 High Street, Tetsworth, Nr Thame, Oxon, OX9 7AE, United Kingdom.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
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% Straight line basis
Motor vehicles
25% Reducing balance basis
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
PANDY PARTNERSHIP LIMITED
Notes to the Accounts
for the year ended 31 July 2024
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor 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 over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 August 2023
16,723
29,023
45,746
At 31 July 2024
17,288
37,973
55,261
At 1 August 2023
12,124
12,698
24,822
Charge for the year
1,804
5,204
7,008
At 31 July 2024
13,928
17,902
31,830
At 31 July 2024
3,360
20,071
23,431
At 31 July 2023
4,599
16,325
20,924
PANDY PARTNERSHIP LIMITED
Notes to the Accounts
for the year ended 31 July 2024
Amounts falling due within one year
Accrued income and prepayments
1,080
510
7
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
5,674
3,904
Taxes and social security
12,836
10,980
Loans from directors
6,512
4,046
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
16,895
15,636
9
Deferred taxation
2024
2023
Accelerated capital allowances
4,452
3,976
Provision at start of year
3,976
4,889
Charged/(credited) to the profit and loss account
476
(913)
Provision at end of year
4,452
3,976
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).