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Registered number: 04499240
Pannell Commercials Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Condy Mathias Business Advisors
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 04499240
2025 2024
Notes £ £ £ £
FIXED ASSETS
Investments 4 390,105 371,334
390,105 371,334
CURRENT ASSETS
Cash at bank and in hand 5,179 5,221
5,179 5,221
Creditors: Amounts Falling Due Within One Year 5 (19,271 ) (17,671 )
NET CURRENT ASSETS (LIABILITIES) (14,092 ) (12,450 )
TOTAL ASSETS LESS CURRENT LIABILITIES 376,013 358,884
NET ASSETS 376,013 358,884
CAPITAL AND RESERVES
Called up share capital 6 1,000 1,000
Share premium account 6 6
Profit and Loss Account 375,007 357,878
SHAREHOLDERS' FUNDS 376,013 358,884
For the 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.
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Christopher Pannell
Director
8 September 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Pannell Commercials Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04499240 . The registered office is 6 Houndiscombe Road, Plymouth, Devon, PL4 6HH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
The turnover shown in the profit and loss account represents the company's share of profits from Pannell Commercials partnership during the period.
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.4. Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below.These policies have been consistently applied to all the years presented, unless otherwise stated
2.5. Statement of compliance
These financial statements have been prepared using the historic cost convention except that as disclosed in the accounting policies certain items are shown at fair value.The financial statements have been prepared inaccordance with Financial Reporting Standard 102 Section 1A- The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.6. Business combinations
Investments in associates are accounted for using the cost method, with the associates valued at cost less any impairment losses.All distributions received from associates are recognised as income through the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
Page 2
Page 3
4. Investments
Associates
£
Cost or Valuation
As at 1 April 2024 371,334
Additions 24,500
Disposals (5,729 )
As at 31 March 2025 390,105
Provision
As at 1 April 2024 -
As at 31 March 2025 -
Net Book Value
As at 31 March 2025 390,105
As at 1 April 2024 371,334
The company is a corporate partner in Pannell Commercials partnership. The directors of this company are also partners in that enterprise. The company's investment in Pannell Commercials partnership at the end of the period was £390,105 (2024: £371,334).
5. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Other creditors 10,371 9,027
Taxation and social security 8,900 8,644
19,271 17,671
6. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 3