Panton Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04569937 (England and Wales)

Financial Statements for the Year Ended 31 December 2021

for

Panton Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R J M Panton

REGISTERED OFFICE:

Foresters Hall

25/27 Westow Street

London

SE19 3RY

REGISTERED NUMBER:

04569937 (England and Wales)

ACCOUNTANTS:

Gibsons Financial Limited

Chartered Accountants

Foresters Hall

25/27 Westow Street

Upper Norwood

London

SE19 3RY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

4,659

5,279

4,659

5,279

CURRENT ASSETS

Stocks

3,957

4,743

Debtors

20,082

27,546

Cash at bank

16,613

7,460

40,652

39,749

CREDITORS

Amounts falling due within one year

(13,246

)

(12,666

)

NET CURRENT ASSETS

27,406

27,083

TOTAL ASSETS LESS CURRENT LIABILITIES

32,065

32,362

CREDITORS

Amounts falling due after more than one year

(34,500

)

(34,500

)

PROVISIONS FOR LIABILITIES

(836

)

(943

)

NET LIABILITIES

(3,271

)

(3,081

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(3,371

)

(3,181

)

SHAREHOLDERS' FUNDS

(3,271

)

(3,081

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 26 September 2022 and were signed by:

R J M Panton - Director

1.	STATUTORY INFORMATION

Panton 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

At the Balance Sheet date the company's liabilities exceeded its assets by £9,389. The company meets its day to day working capital requirements as a result of financial assistance provided by a family trust managed by one of its directors, Mr R Panton. At the Balance Sheet date the company owed £41,500 to the family trust.

Mr R Panton has indicated that loan to the company should remain at its disposal for the foreseeable future and the family trust does not intend to seek immediate repayment of this loan for the foreseeable future. The director therefore consider it appropriate to prepare the financial statements on the going concern basis.

The financial statements do not include any adjustments that may have to be made should the

company be unsuccessful in at least maintaining the current levels of financial support.

Turnover

Turnover represents net invoiced sales of goods and services. These amounts include direct recoverable expenses but exclude value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, has been fully written off.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures, fittings & equipment

-

25% on reducing balance

Computer equipment

-

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.

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.

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.

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.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2021

and 31 December 2021

10,000

AMORTISATION

At 1 January 2021

and 31 December 2021

10,000

NET BOOK VALUE

At 31 December 2021

-

At 31 December 2020

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2021

30,553

Additions

933

At 31 December 2021

31,486

DEPRECIATION

At 1 January 2021

25,274

Charge for year

1,553

At 31 December 2021

26,827

NET BOOK VALUE

At 31 December 2021

4,659

At 31 December 2020

5,279

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in debtors is an amount owing by the director to the company of £6,892.

7.	RELATED PARTY DISCLOSURES

8.	POST BALANCE SHEET EVENTS

The Director has considered the possible effects on the company of the impacts of the worldwide pandemic caused by the coronavirus (Covid-19). Taking in to account a period exceeding 12 months from the date of approval of these Financial Statements, the Director has a reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future, and for this reason will continue to adopt the going concern basis in the preparation of its Financial Statements.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr R J M Panton and Mrs A L Panton.