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Company Registration No. 08998447 (England and Wales)
PANCREPES LTD Unaudited accounts for the year ended 31 December 2024
PANCREPES LTD Unaudited accounts Contents
Page
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PANCREPES LTD Company Information for the year ended 31 December 2024
Directors
STEPHEN WATSON JACOB WATSON THOMAS WATSON
Secretary
STEPHEN 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
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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
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PANCREPES LTD Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
862,157 
805,743 
Current assets
Inventories
12,242 
7,092 
Debtors
6,746 
6,385 
Cash at bank and in hand
228,483 
362,119 
247,471 
375,596 
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 
Capital and reserves
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
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PANCREPES LTD Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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:
Land & buildings
1% Cost
Plant & machinery
20% Net Book Value
Motor vehicles
20% Net Book Value
Turnover
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
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.
Leased assets
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.
Pension costs
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.
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PANCREPES LTD Notes to the Accounts for the year ended 31 December 2024
Investment property
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 taxation
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 
Depreciation
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 
Net book value
At 31 December 2024
701,854 
89,806 
70,497 
862,157 
At 31 December 2023
709,099 
64,114 
32,530 
805,743 
5
Debtors
2024 
2023 
£ 
£ 
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 
VAT
49,333 
67,657 
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 
Accruals
3,275 
3,050 
238,138 
358,224 
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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).
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