Pan - Duct Ltd

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 5

Pan - Duct Ltd

(Registration number: 16122118)
Statement of Financial Position as at 31 December 2025

	Note	2025 £
Fixed assets
Intangible assets	4	7,161
Current assets
Debtors	5	124
Cash at bank and in hand		1,279
		1,403
Creditors: Amounts falling due within one year	6	(10,858)
Net current liabilities		(9,455)
Net liabilities		(2,294)
Capital and reserves
Called up share capital		100
Profit and loss account		(2,394)
Shareholders' deficit		(2,294)

For the financial period ending 31 December 2025 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 accounts for the period in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 27 August 2026
 

Mr P J Paniccia Director

Pan - Duct Ltd

Notes to the Unaudited Financial Statements for the Period from 8 December 2024 to 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
26-28 Southernhay East
Exeter
Devon
EX1 1NS
United Kingdom

Principal activity

The principal activity of the company is to design and develop ducting systems for current and future utilities and services.

2	Accounting policies

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The company meets its day-to-day working capital requirements through the support of the directors. On the basis that the company director will continue this support, the financial statements have been prepared on a going concern basis.

On 31 December 2025 the company had net current liabilities of £9,455 and overall net liabilities of £2,294.

Pan - Duct Ltd

Notes to the Unaudited Financial Statements for the Period from 8 December 2024 to 31 December 2025 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Patents	20 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2.

Pan - Duct Ltd

Notes to the Unaudited Financial Statements for the Period from 8 December 2024 to 31 December 2025 (continued)

4	Intangible assets

	Trademarks, patents and licenses  £	Total £
Cost or valuation
Additions internally developed	7,538	7,538
At 31 December 2025	7,538	7,538
Amortisation
Amortisation charge	377	377
At 31 December 2025	377	377
Carrying amount
At 31 December 2025	7,161	7,161

5

Debtors

	2025 £
Prepayments	124
	124

6

Creditors

Creditors: amounts falling due within one year

	2025 £
Due within one year
Accruals and deferred income	875
Other creditors	9,983
	10,858

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Pan - Duct Ltd

Notes to the Unaudited Financial Statements for the Period from 8 December 2024 to 31 December 2025 (continued)

8	Related party transactions

Transactions with the director

2025	At 8 December 2024 £	Repayments by director £	At 31 December 2025 £
Director loan	-	(9,773)	(9,773)