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Registration number: 14754247

Pangea Search Partners Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Pangea Search Partners Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Pangea Search Partners Limited

(Registration number: 14754247)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

12,595

3,748

Current assets

 

Debtors

6

144

88,842

Investments

7

38,298

-

Cash at bank and in hand

 

110,333

47,229

 

148,775

136,071

Creditors: Amounts falling due within one year

8

(118,596)

(100,374)

Net current assets

 

30,179

35,697

Total assets less current liabilities

 

42,774

39,445

Provisions for liabilities

(3,149)

(712)

Net assets

 

39,625

38,733

Capital and reserves

 

Called up share capital

2

2

Retained earnings

39,623

38,731

Shareholders' funds

 

39,625

38,733

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 June 2025 and signed on its behalf by:
 

 

Pangea Search Partners Limited

(Registration number: 14754247)
Balance Sheet as at 31 March 2025

Mr L Buckley
Director

Mr J A Lee
Director

 
     
 

Pangea Search Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Parkhill Studio
Walton Road
Wetherby
West Yorkshire
LS22 5DZ
England

These financial statements were authorised for issue by the Board on 24 June 2025.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Pangea Search Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Pangea Search Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation expense

3,969

1,357

 

Pangea Search Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2024

5,105

5,105

Additions

12,816

12,816

At 31 March 2025

17,921

17,921

Depreciation

At 1 April 2024

1,357

1,357

Charge for the year

3,969

3,969

At 31 March 2025

5,326

5,326

Carrying amount

At 31 March 2025

12,595

12,595

At 31 March 2024

3,748

3,748

6

Debtors

Current

2025
£

2024
£

Trade debtors

-

88,800

Prepayments

144

42

 

144

88,842

7

Current asset investments

2025
£

2024
£

Other investments

38,298

-

 

Pangea Search Partners Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

4,496

33,396

Trade creditors

 

947

556

Taxation and social security

 

112,770

66,422

Other creditors

 

383

-

 

118,596

100,374

9

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Other borrowings

4,496

33,396