Abbreviated Company Accounts - DON'T PANIC (LONDON) LIMITED

DON'T PANIC (LONDON) LIMITED - Company Information

07346372 DON'T PANIC (LONDON) LIMITED 2015-03-31 false 2014-04-01 2015-03-31 true 07346372 2014-04-01 2015-03-31 07346372 2015-03-31 07346372 2014-03-31 07346372 uk-gaap-cd-bus:Director1 2014-04-01 2015-03-31 07346372 uk-gaap-cd-bus:Director2 2014-04-01 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-04-01 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-03-31 iso4217:GBP shares

Registered Number 07346372

DON'T PANIC (LONDON) LIMITED

Abbreviated Accounts

31 March 2015

DON'T PANIC (LONDON) LIMITED Registered Number 07346372

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	18,800	4,620
		18,800	4,620
Current assets
Stocks		114,166	20,125
Debtors		250,066	199,592
Cash at bank and in hand		124,275	68,721
		488,507	288,438
Creditors: amounts falling due within one year		(197,955)	(117,118)
Net current assets (liabilities)		290,552	171,320
Total assets less current liabilities		309,352	175,940
Total net assets (liabilities)		309,352	175,940
Capital and reserves
Called up share capital	3	900	900
Profit and loss account		308,452	175,040
Shareholders' funds		309,352	175,940

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 30 June 2015

And signed on their behalf by:
M J Myatt, Director

DON'T PANIC (LONDON) LIMITED Registered Number 07346372

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

Basis of measurement and preparation of accounts
Accounting Policies

Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and Include the results of the Company's operations which are described in the Director’s Report and all of which are continuing.

The Company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cash flow statement on the
grounds that it is a small Company.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the Company, net of Value Added Tax and trade discounts.

Tangible Fixed Assets and Depreciation

Fixed assets are stated at cost less depreciation.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Equipment, Fixtures and Fittings 10% Straight Line Basis

Stocks and Work in Progress

Stocks are valued at the lower cost and net realisable value after making due allowances for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred Taxation

No provision is necessary

Transactions with Directors

Mr M Myatt is also a Director of Panic Clothes Limited and Mark Myatt Investments Limited from whom the Company bought and sold goods and services on normal Commercial terms.

2Tangible fixed assets

	£
Cost
At 1 April 2014	6,020
Additions	16,400
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2015	22,420
Depreciation
At 1 April 2014	1,400
Charge for the year	2,220
On disposals	-
At 31 March 2015	3,620
Net book values
At 31 March 2015	18,800
At 31 March 2014	4,620

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
900 Ordinary shares of £1 each	900	900