Panda Labs Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08531840 (England and Wales)

Financial Statements for the Year Ended 30 September 2021

for

Panda Labs Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

O J Stevens

REGISTERED OFFICE:

Flat 22

55-57 Holmes Road

Kentish Town

London

NW5 3AN

REGISTERED NUMBER:

08531840 (England and Wales)

ACCOUNTANTS:

Farrell & Co

1C Amberside

Wood Lane

Hemel Hempstead

Hertfordshire

HP2 4TP

FIXED ASSETS

Tangible assets

4

103

1,836

Investments

5

150

-

253

1,836

CURRENT ASSETS

Debtors

6

47,234

30,240

Cash at bank

19,587

29,687

66,821

59,927

CREDITORS

Amounts falling due within one year

7

22,190

37,475

NET CURRENT ASSETS

44,631

22,452

TOTAL ASSETS LESS CURRENT LIABILITIES

44,884

24,288

PROVISIONS FOR LIABILITIES

20

349

NET ASSETS

44,864

23,939

CAPITAL AND RESERVES

Called up share capital

8

4

4

Retained earnings

9

44,860

23,935

SHAREHOLDERS' FUNDS

44,864

23,939

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 June 2022 and were signed by:

O J Stevens - Director

1.	STATUTORY INFORMATION

Panda Labs Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 October 2020

and 30 September 2021

411

13,610

14,021

DEPRECIATION

At 1 October 2020

206

11,979

12,185

Charge for year

102

1,631

1,733

At 30 September 2021

308

13,610

13,918

NET BOOK VALUE

At 30 September 2021

103

-

103

At 30 September 2020

205

1,631

1,836

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

150

At 30 September 2021

150

NET BOOK VALUE

At 30 September 2021

150

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Trade debtors

-

30,240

Amounts owed by associates

47,234

-

47,234

30,240

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Taxation and social security

20,074

35,312

Other creditors

2,116

2,163

22,190

37,475

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.21

30.9.20

value:

£

£

1

Ordinary

£1

1

1

1

Ordinary B

£1

1

1

1

Ordinary C

£1

1

1

1

Ordinary D

£1

1

1

4

4

9.

RESERVES

Retained

earnings

£

At 1 October 2020

23,935

Profit for the year

62,925

Dividends

(42,000

)

At 30 September 2021

44,860