Acorah Software Products - Accounts Production 16.3.350 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 06351334 Mr John Kasapi Mr Panayiotis Kasapi Mr Panayiotis Kasapi iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06351334 2023-08-31 06351334 2024-08-31 06351334 2023-09-01 2024-08-31 06351334 frs-core:CurrentFinancialInstruments 2024-08-31 06351334 frs-core:Non-currentFinancialInstruments 2024-08-31 06351334 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-08-31 06351334 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 06351334 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-08-31 06351334 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-08-31 06351334 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 06351334 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-31 06351334 frs-core:PlantMachinery 2024-08-31 06351334 frs-core:PlantMachinery 2023-09-01 2024-08-31 06351334 frs-core:PlantMachinery 2023-08-31 06351334 frs-core:ShareCapital 2024-08-31 06351334 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 06351334 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 06351334 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 06351334 frs-bus:SmallEntities 2023-09-01 2024-08-31 06351334 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 06351334 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 06351334 frs-core:DeferredTaxation 2023-08-31 06351334 frs-core:DeferredTaxation 2024-08-31 06351334 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-08-31 06351334 frs-bus:Director1 2023-09-01 2024-08-31 06351334 frs-bus:Director2 2023-09-01 2024-08-31 06351334 frs-bus:CompanySecretary1 2023-09-01 2024-08-31 06351334 frs-countries:EnglandWales 2023-09-01 2024-08-31 06351334 2022-08-31 06351334 2023-08-31 06351334 2022-09-01 2023-08-31 06351334 frs-core:CurrentFinancialInstruments 2023-08-31 06351334 frs-core:Non-currentFinancialInstruments 2023-08-31 06351334 frs-core:ShareCapital 2023-08-31 06351334 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31 06351334 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-08-31
Registered number: 06351334
PANJOHN LTD
Unaudited Financial Statements
For The Year Ended 31 August 2024
ELM Partners
Chartered Certified Accountants & Registered Auditors
Southgate Offie Village
286a Chase Road
Soutghate
London
N14 6HF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06351334
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,146,239 3,146,795
3,146,239 3,146,795
CURRENT ASSETS
Debtors 5 67,121 9,597
Cash at bank and in hand 66,832 73,774
133,953 83,371
Creditors: Amounts Falling Due Within One Year 6 (69,394 ) (54,285 )
NET CURRENT ASSETS (LIABILITIES) 64,559 29,086
TOTAL ASSETS LESS CURRENT LIABILITIES 3,210,798 3,175,881
Creditors: Amounts Falling Due After More Than One Year 7 (2,110,528 ) (2,134,938 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (197,723 ) (197,723 )
NET ASSETS 902,547 843,220
CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 593,168 593,168
Profit and Loss Account 309,279 249,952
SHAREHOLDERS' FUNDS 902,547 843,220
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For the year ending 31 August 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Kasapi
Director
21/05/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
PANJOHN LTD is a private company, limited by shares, incorporated in England & Wales, registered number 06351334 . The registered office is 13 Goodwin Street, London, N4 3HQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents rental income received during the year.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No depreciation
Leasehold No depreciation
Plant & Machinery 20% reducing balance method
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Corporation tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
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4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Total
£ £ £ £
Cost or Valuation
As at 1 September 2023 2,781,539 360,000 18,234 3,159,773
Additions - - 619 619
As at 31 August 2024 2,781,539 360,000 18,853 3,160,392
Depreciation
As at 1 September 2023 - - 12,978 12,978
Provided during the period - - 1,175 1,175
As at 31 August 2024 - - 14,153 14,153
Net Book Value
As at 31 August 2024 2,781,539 360,000 4,700 3,146,239
As at 1 September 2023 2,781,539 360,000 5,256 3,146,795
Cost or valuation as at 31 August 2024 represented by:
Land & Property
Freehold Leasehold Plant & Machinery Total
£ £ £ £
At cost 1,990,648 360,000 18,853 2,369,501
At valuation 790,891 - - 790,891
2,781,539 360,000 18,853 3,160,392
In the opinion of the director the fair value of the properties since last year, has not materially changed at the end of the
reporting date.
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 14,346 9,597
Other debtors 52,775 -
67,121 9,597
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 7,595 7,626
Bank loans and overdrafts 8,790 8,790
Corporation tax 17,209 5,837
Other creditors 22,540 19,771
Accruals and deferred income 9,260 8,261
Directors' loan accounts 4,000 4,000
69,394 54,285
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 2,059,170 2,075,380
Directors loan account 51,358 59,558
2,110,528 2,134,938
Included in creditors is a bounce bank loan of £18,313. The government guarantees 100% of the bounce loan and there are no fees or interest for the first 12 months. After 12 months , the interest is capped at 2.5% per year and the total amount payable must be repaid by way of 60 consecutive monthly payments (consisting of capital and interest).
8. Secured Creditors
The bank loan is secured by a first charge over the company's freehold and leasehold properties.
2024 2023
£ £
Bank loans and overdrafts 2,049,647 2,057,068
9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 September 2023 197,723 197,723
Balance at 31 August 2024 197,723 197,723
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Related Party Transactions
As at the balance sheet date the company owed the director Mr John Kasapi the amount of £36,929 (2023: £40,529). The loan was interest free.
As at the balance sheet date the company owed the director Mr Panayiotis Kasapi the amount of £18,429 (2023: £23,529). The loan was interest free.
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