Panton Limited - Accounts to registrar (filleted) - small 18.2
Panton Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2020 |
for |
Panton Limited |
Panton Limited (Registered number: 04569937) |
Contents of the Financial Statements |
for the Year Ended 31 December 2020 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Panton Limited |
Company Information |
for the Year Ended 31 December 2020 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Foresters Hall |
25/27 Westow Street |
Upper Norwood |
London |
SE19 3RY |
Panton Limited (Registered number: 04569937) |
Abridged Balance Sheet |
31 December 2020 |
31/12/20 | 31/12/19 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
Panton Limited (Registered number: 04569937) |
Abridged Balance Sheet - continued |
31 December 2020 |
31/12/20 | 31/12/19 |
Notes | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
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 |
Panton Limited (Registered number: 04569937) |
Notes to the Financial Statements |
for the Year Ended 31 December 2020 |
1. | STATUTORY INFORMATION |
Panton Limited is a |
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 |
Fixtures, fittings & equipment | - |
Computer equipment | - |
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. |
Panton Limited (Registered number: 04569937) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2020 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2020 |
and 31 December 2020 |
AMORTISATION |
At 1 January 2020 |
and 31 December 2020 |
NET BOOK VALUE |
At 31 December 2020 |
At 31 December 2019 |
Panton Limited (Registered number: 04569937) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2020 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2020 |
Additions |
At 31 December 2020 |
DEPRECIATION |
At 1 January 2020 |
Charge for year |
At 31 December 2020 |
NET BOOK VALUE |
At 31 December 2020 |
At 31 December 2019 |
6. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
Included in debtors is an amount owing by the director to the company of £15,019. |
7. | RELATED PARTY DISCLOSURES |
Mr R J M Panton - director, has given a personal guarantee to secure the bank overdraft. |
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 |