Panda Creative Limited - Limited company accounts 11.4

REGISTERED NUMBER: 08358366 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

14 JANUARY 2013 TO 28 FEBRUARY 2014

FOR

PANDA CREATIVE LIMITED

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

J R Mansell

SECRETARY:

First Instance Secretariat Ltd

REGISTERED OFFICE:

Sovereign House

22 Shelley Road

WORTHING

West Sussex

BN11 1TU

REGISTERED NUMBER:

08358366 (England and Wales)

ACCOUNTANTS:

Monetaire

Sovereign House

22 Shelley Road

WORTHING

West Sussex

BN11 1TU

The director presents his report with the financial statements of the company for the period 14 January 2013 to

28 February 2014.

INCORPORATION

The company was incorporated on 14 January 2013 and commenced trading on 1 March 2013.

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of the design and sale of printed products.

DIRECTOR

J R Mansell was appointed as a director on 14 January 2013 and held office during the whole of the period from then to
the date of this report.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

J R Mansell - Director

16 September 2014

TURNOVER

2

159,194

Cost of sales

82,496

GROSS PROFIT

76,698

Distribution costs

400

Administrative expenses

45,860

46,260

OPERATING PROFIT and

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

3

30,438

Tax on profit on ordinary activities

4

5,400

PROFIT FOR THE FINANCIAL PERIOD

25,038

FIXED ASSETS

Intangible assets

6

9,000

Tangible assets

7

4,229

13,229

CURRENT ASSETS

Debtors

8

1,890

Cash at bank

14,458

16,348

CREDITORS

Amounts falling due within one year

9

29,437

NET CURRENT LIABILITIES

(13,089

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

140

CAPITAL AND RESERVES

Called up share capital

10

102

Profit and loss account

11

38

SHAREHOLDERS' FUNDS

140

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2014.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2014 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 in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the director on 16 September 2014 and were signed by:

J R Mansell - 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 2013, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Deferred tax

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

sheet date.

2.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

3.	OPERATING PROFIT

The operating profit is stated after charging:

£

Depreciation - owned assets

1,090

Goodwill amortisation

1,000

Director's remuneration and other benefits etc

7,696

4.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the period was as follows:

£

Current tax:

UK corporation tax

5,400

Tax on profit on ordinary activities

5,400

5.

DIVIDENDS

£

"A" Ordinary Non-Voting share of £1

Final

25,000

6.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

10,000

At 28 February 2014

10,000

AMORTISATION

Charge for period

1,000

At 28 February 2014

1,000

NET BOOK VALUE

At 28 February 2014

9,000

7.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

5,319

At 28 February 2014

5,319

DEPRECIATION

Charge for period

1,090

At 28 February 2014

1,090

NET BOOK VALUE

At 28 February 2014

4,229

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

1,331

Other debtors

559

1,890

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

898

Taxation and social security

5,400

Other creditors

23,139

29,437

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

£1 Ordinary

£1

100

1

"A" Ordinary Non-Voting

£1

1

"B" Ordinary Non-Voting

£1

1

102

The following shares were issued during the period for cash at par :

100 £1 Ordinary shares of £1

1 "A" Ordinary Non-Voting share of £1

1 "B" Ordinary Non-Voting share of £1

11.

RESERVES

Profit

and loss

account

£

Profit for the period

25,038

Dividends

(25,000

)

At 28 February 2014

38

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year dividends totalling £25,000 were paid to the director.