Panda Creative Limited 28/02/2019 iXBRL
Panda Creative Limited 28/02/2019 iXBRL
Company registration number:
08358366
Unaudited filleted financial statements
Contents
Statement of financial position
Notes to the financial statements
Statement of financial position
28 February 2019
2019 | 2018 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Intangible assets | 5 |
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Tangible assets | 6 |
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_______ | _______ | ||||||||
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Current assets | |||||||||
Debtors | 7 |
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Cash at bank and in hand |
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_______ | _______ | ||||||||
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Creditors: amounts falling due | |||||||||
within one year | 8 |
(
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(
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_______ | _______ | ||||||||
Net current liabilities |
(
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(
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_______ | _______ | ||||||||
Total assets less current liabilities |
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Provisions for liabilities |
(
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(
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_______ | _______ | ||||||||
Net assets |
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_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account |
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_______ | _______ | ||||||||
Shareholders funds |
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_______ | _______ | ||||||||
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;
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The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
25 September 2019
, and are signed on behalf of the board by:
Director
Company registration number:
08358366
Notes to the financial statements
Year ended 28 February 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Brooklands House, 58 Marlborough Road, Lancing, West Sussex, BN15 8AF.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Goodwill
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill | - |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment | - | 20% and 25% Reducing balance | |
Impairment
Provisions
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a 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.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2018:
1
).
5.
Intangible assets
Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 1 March 2018 and 28 February 2019 |
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_______ | _______ | ||
Amortisation | |||
At 1 March 2018 |
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Charge for the year |
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_______ | _______ | ||
At 28 February 2019 |
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_______ | _______ | ||
Carrying amount | |||
At 28 February 2019 |
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_______ | _______ | ||
At 28 February 2018 |
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_______ | _______ | ||
6.
Tangible assets
Fixtures, fittings and equipment | Total | ||
£ | £ | ||
Cost | |||
At 1 March 2018 and 28 February 2019 |
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_______ | _______ | ||
Depreciation | |||
At 1 March 2018 |
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Charge for the year |
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_______ | _______ | ||
At 28 February 2019 |
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_______ | _______ | ||
Carrying amount | |||
At 28 February 2019 |
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_______ | _______ | ||
At 28 February 2018 |
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_______ | _______ | ||
7.
Debtors
2019 | 2018 | |||
£ | £ | |||
Trade debtors |
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Other debtors |
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_______ | _______ | |||
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_______ | _______ | |||
8.
Creditors: amounts falling due within one year
2019 | 2018 | |||
£ | £ | |||
Trade creditors |
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Corporation tax |
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Other creditors |
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_______ | _______ | |||
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_______ | _______ | |||
9.
Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company: | ||||
2019 | ||||
Balance brought forward | Advances /(credits) to the director | Balance o/standing | ||
£ | £ | £ | ||
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(
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(
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_______ | _______ | _______ | ||
2018 | ||||
Balance brought forward | Advances /(credits) to the director | Balance o/standing | ||
£ | £ | £ | ||
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(
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(
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_______ | _______ | _______ | ||
10.
Controlling party
The company is under the control of
Mr J R Mansell
.