Company registration number 12946489 (England and Wales)
PANESAR PROPERTY ESTATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
PANESAR PROPERTY ESTATES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
PANESAR PROPERTY ESTATES LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
600,000
600,000
Current assets
Cash at bank and in hand
9,408
6,733
Creditors: amounts falling due within one year
4
(478,069)
(489,084)
Net current liabilities
(468,661)
(482,351)
Total assets less current liabilities
131,339
117,649
Provisions for liabilities
(21,033)
(21,033)
Net assets
110,306
96,616
Capital and reserves
Called up share capital
100
100
Revaluation reserve
63,100
63,100
Profit and loss reserves
47,106
33,416
Total equity
110,306
96,616

For the financial year ended 31 October 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 18 July 2025 and are signed on its behalf by:
S S Panesar
Director
Company registration number 12946489 (England and Wales)
PANESAR PROPERTY ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Company information

Panesar Property Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wellesley House, Duke of Wellington Avenue, Royal Arsenal, London, SE18 6SS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents rental receipts received. Rental income is recognised in the period to which it relates. Any receipts received for advanced periods is recognised as deferred income included within other creditors. Any income received after date relating to the current period is treated as accrued income held within trade debtors.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

PANESAR PROPERTY ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Investment property
2024
£
Fair value
At 1 November 2023 and 31 October 2024
600,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 October 2024 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2024
2023
£
£
Cost
515,867
515,867
Accumulated depreciation
-
-
Carrying amount
515,867
515,867
4
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
3,328
3,241
Other creditors
474,741
485,843
478,069
489,084
2024-10-312023-11-01falsefalsefalse18 July 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityS S PanesarJ S Panesar129464892023-11-012024-10-31129464892024-10-31129464892023-10-3112946489core:CurrentFinancialInstrumentscore:WithinOneYear2024-10-3112946489core:CurrentFinancialInstrumentscore:WithinOneYear2023-10-3112946489core:CurrentFinancialInstruments2024-10-3112946489core:CurrentFinancialInstruments2023-10-3112946489core:ShareCapital2024-10-3112946489core:ShareCapital2023-10-3112946489core:RevaluationReserve2024-10-3112946489core:RevaluationReserve2023-10-3112946489core:RetainedEarningsAccumulatedLosses2024-10-3112946489core:RetainedEarningsAccumulatedLosses2023-10-3112946489bus:Director12023-11-012024-10-31129464892022-11-012023-10-31129464892023-10-3112946489bus:PrivateLimitedCompanyLtd2023-11-012024-10-3112946489bus:SmallCompaniesRegimeForAccounts2023-11-012024-10-3112946489bus:FRS1022023-11-012024-10-3112946489bus:AuditExemptWithAccountantsReport2023-11-012024-10-3112946489bus:Director22023-11-012024-10-3112946489bus:FullAccounts2023-11-012024-10-31xbrli:purexbrli:sharesiso4217:GBP