Panoma Press Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05639586 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 November 2014

for

Panoma Press Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Ms M Gibbins Klein

SECRETARY:

Ms M Gibbins Klein

REGISTERED OFFICE:

48 St Vincent Drive

St Albans

Hertfordshire

AL1 5SJ

REGISTERED NUMBER:

05639586 (England and Wales)

FIXED ASSETS

Intangible assets

2

5,418

7,500

Tangible assets

3

753

1,004

6,171

8,504

CURRENT ASSETS

Stocks

30,642

30,306

Debtors

53,095

32,909

Cash at bank and in hand

20,308

106,399

104,045

169,614

CREDITORS

Amounts falling due within one year

30,667

66,360

NET CURRENT ASSETS

73,378

103,254

TOTAL ASSETS LESS CURRENT LIABILITIES

79,549

111,758

CAPITAL AND RESERVES

Called up share capital

4

100

100

Share premium

149,970

149,970

Profit and loss account

(70,521

)

(38,312

)

SHAREHOLDERS' FUNDS

79,549

111,758

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 6 July 2015 and were signed by:

Ms M Gibbins Klein - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of six years.

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 reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating

result.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2013

and 30 November 2014

12,491

AMORTISATION

At 1 December 2013

4,991

Amortisation for year

2,082

At 30 November 2014

7,073

NET BOOK VALUE

At 30 November 2014

5,418

At 30 November 2013

7,500

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2013

and 30 November 2014

3,296

DEPRECIATION

At 1 December 2013

2,292

Charge for year

251

At 30 November 2014

2,543

NET BOOK VALUE

At 30 November 2014

753

At 30 November 2013

1,004

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.14

30.11.13

value:

£

£

100

Ordinary

£1

100

100

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2014 and

30 November 2013:

30.11.14

30.11.13

£

£

Ms M Gibbins Klein

Balance outstanding at start of year

8,619

4,992

Amounts advanced

1,144

3,627

Amounts repaid

-

-

Balance outstanding at end of year

9,763

8,619