1 01/11/2023 31/10/2024 2024-10-31 false false false false false false false true false false true false false false false false false false 2023-11-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 05247377 2023-11-01 2024-10-31 05247377 2024-10-31 05247377 2023-10-31 05247377 2022-11-01 2023-10-31 05247377 2023-10-31 05247377 2022-10-31 05247377 bus:RegisteredOffice 2023-11-01 2024-10-31 05247377 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 05247377 bus:LeadAgentIfApplicable 2023-11-01 2024-10-31 05247377 bus:Director1 2023-11-01 2024-10-31 05247377 bus:CompanySecretary1 2023-11-01 2024-10-31 05247377 core:MotorVehicles 2023-10-31 05247377 core:MotorVehicles 2024-10-31 05247377 core:DeferredTaxation 2023-11-01 2024-10-31 05247377 core:WithinOneYear 2024-10-31 05247377 core:WithinOneYear 2023-10-31 05247377 core:AfterOneYear 2023-10-31 05247377 core:ShareCapital 2024-10-31 05247377 core:ShareCapital 2023-10-31 05247377 core:RetainedEarningsAccumulatedLosses 2024-10-31 05247377 core:RetainedEarningsAccumulatedLosses 2023-10-31 05247377 bus:OrdinaryShareClass1 core:ShareCapital 2024-10-31 05247377 bus:OrdinaryShareClass1 core:ShareCapital 2023-10-31 05247377 core:MotorVehicles 2023-11-01 2024-10-31 05247377 core:AcceleratedTaxDepreciationDeferredTax 2024-10-31 05247377 core:AcceleratedTaxDepreciationDeferredTax 2023-10-31 05247377 core:MotorVehicles 2023-10-31 05247377 core:DeferredTaxation 2023-10-31 05247377 core:DeferredTaxation 2024-10-31 05247377 bus:SmallEntities 2023-11-01 2024-10-31 05247377 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 05247377 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 05247377 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 05247377 bus:FullAccounts 2023-11-01 2024-10-31
Panta Electrical Services Limited
Filleted accounts
31 October 2024
Company registration number: 05247377
Panta Electrical Services Limited
Directors and other information
Director M R Panter
Secretary J M Panter
Company number 05247377
Registered office The Old Dairy
12 Stephen Road
Headington
Oxford
OX3 9AY
Accountants Cox Hinkins & Co. Limited
Accountants and Taxation Advisors
The Old Dairy
12 Stephen Road
Headington
Oxford
OX3 9AY
Panta Electrical Services Limited
Balance sheet
31st October 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 15,466 19,333
_______ _______
15,466 19,333
Current assets
Debtors 6 20,164 21,239
Cash at bank and in hand 3,119 4,992
_______ _______
23,283 26,231
Creditors: amounts falling due
within one year 7 ( 23,133) ( 27,357)
_______ _______
Net current assets/(liabilities) 150 ( 1,126)
_______ _______
Total assets less current liabilities 15,616 18,207
Creditors: amounts falling due
after more than one year 8 - ( 4,761)
Provisions for liabilities 9 ( 2,939) ( 3,673)
_______ _______
Net assets 12,677 9,773
_______ _______
Capital and reserves
Called up share capital 11 3 3
Profit and loss account 12,674 9,770
_______ _______
Shareholders funds 12,677 9,773
_______ _______
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 director acknowledges their responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit & loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 July 2025 , and are signed on behalf of the board by:
M R Panter
Director
Company registration number: 05247377
Panta Electrical Services Limited
Notes to the financial statements
Year ended 31st October 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Old Dairy, 12 Stephen Road, Headington, Oxford, OX3 9AY. There was no significant change in the company's principal activity during the year which continued to be that of electrical contractors .
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is not recognised in respect of any timing differences at the reporting date as all are insignificant.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles - Reducing balance basis at 25% per annum
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Hire purchase and finance leases
Assets held under finance leases are recognised in the Balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractualarrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Motor vehicles Total
£ £
Cost
At 1st November 2023 and 31st October 2024 23,200 23,200
_______ _______
Depreciation
At 1st November 2023 3,867 3,867
Charge for the year 3,867 3,867
_______ _______
At 31st October 2024 7,734 7,734
_______ _______
Carrying amount
At 31st October 2024 15,466 15,466
_______ _______
At 31st October 2023 19,333 19,333
_______ _______
6. Debtors
2024 2023
£ £
Trade debtors 16,341 13,368
Other debtors 3,823 7,871
_______ _______
20,164 21,239
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 2,920 1,667
Social security and other taxes 10,565 5,670
Other creditors 9,648 20,020
_______ _______
23,133 27,357
_______ _______
Other creditors include £4,761 (2023: £10,511) which are secured on the company's assets.
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors - 4,761
_______ _______
Other creditors are secured on the company's assets.
9. Provisions
Deferred tax (note 10) Total
£ £
At 1st November 2023 3,673 3,673
Additions ( 734) ( 734)
_______ _______
At 31st October 2024 2,939 2,939
_______ _______
10. Deferred tax
The deferred tax included in the Balance sheet is as follows:
2024 2023
£ £
Included in provisions (note 9) 2,939 3,673
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2024 2023
£ £
Accelerated capital allowances 2,939 3,673
_______ _______
11. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 3 3 3 3
_______ _______ _______ _______
12. Controlling party
The company is under the control of M R Panter who owns 100% of the issued share capital.