Company Registration No. 08998447 (England and Wales)
PANCREPES LTD
Unaudited accounts
for the year ended 31 December 2024
PANCREPES LTD
Company Information
for the year ended 31 December 2024
Directors
STEPHEN WATSON
JACOB WATSON
THOMAS WATSON
Company Number
08998447 (England and Wales)
Registered Office
62 SEYMOUR DRIVE
DARTMOUTH
DEVON
TQ6 9GE
ENGLAND
Accountants
J ROWE-JONES ACCOUNTANTS LIMITED
62 SEYMOUR DRIVE
DARTMOUTH
DEVON
TQ6 9GE
PANCREPES LTD
Accountants' report
Accountants' report to the board of directors of PANCREPES LTD on the preparation of the unaudited statutory accounts for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
PANCREPES LTD for the year ended
31 December 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of PANCREPES LTD, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of PANCREPES LTD and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PANCREPES LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that PANCREPES LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of PANCREPES LTD. You consider that PANCREPES LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of PANCREPES LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
J ROWE-JONES ACCOUNTANTS LIMITED
62 SEYMOUR DRIVE
DARTMOUTH
DEVON
TQ6 9GE
19 February 2025
PANCREPES LTD
Statement of financial position
as at 31 December 2024
Tangible assets
862,157
805,743
Cash at bank and in hand
228,483
362,119
Creditors: amounts falling due within one year
(238,138)
(358,224)
Net current assets
9,333
17,372
Total assets less current liabilities
871,490
823,115
Creditors: amounts falling due after more than one year
(404,350)
(437,510)
Net assets
467,140
385,605
Called up share capital
300
300
Profit and loss account
466,840
385,305
Shareholders' funds
467,140
385,605
For the year ending 31 December 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 30 May 2025 and were signed on its behalf by
STEPHEN WATSON
Director
Company Registration No. 08998447
PANCREPES LTD
Notes to the Accounts
for the year ended 31 December 2024
PANCREPES LTD is a private company, limited by shares, registered in England and Wales, registration number 08998447. The registered office is 62 SEYMOUR DRIVE, DARTMOUTH, DEVON, TQ6 9GE, ENGLAND.
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.
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% Net Book Value
Motor vehicles
20% Net Book Value
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.
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.
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.
PANCREPES LTD
Notes to the Accounts
for the year ended 31 December 2024
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
724,616
162,455
47,374
934,445
Additions
-
46,125
53,367
99,492
At 31 December 2024
724,616
208,580
100,741
1,033,937
At 1 January 2024
15,517
98,341
14,844
128,702
Charge for the year
7,245
20,433
15,400
43,078
At 31 December 2024
22,762
118,774
30,244
171,780
At 31 December 2024
701,854
89,806
70,497
862,157
At 31 December 2023
709,099
64,114
32,530
805,743
Amounts falling due within one year
Accrued income and prepayments
6,746
6,385
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
31,249
29,339
Trade creditors
71,932
38,784
Taxes and social security
11,395
39,955
Proposed dividends
18,000
54,000
Other creditors
30,820
32,184
Loans from directors
22,134
93,255
PANCREPES LTD
Notes to the Accounts
for the year ended 31 December 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
404,350
437,510
8
Average number of employees
During the year the average number of employees was 14 (2023: 32).