Panoram Digital Limited Accounts

PANORAM DIGITAL LIMITED - Company Information






Panoram Digital Limited

	Company No. 12419388
		Information for Filing with The Registrar
		31 January 2023

The Directors present their report and the accounts for the year ended 31 January 2023.

Principal activities
The principal activity of the company during the year under review was business and domestic software development and information technology consultancy activities.




Directors

The Directors who served at any time during the year were as follows:

C. Olofson
R.W.S. Seabrook
G.J. Wildisen





































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

G.J. Wildisen
Director
10 October 2023

at	31 January 2023
Company No.		12419388	Notes	2023	2022
				£	£
Fixed assets

	Tangible assets		4	10,613	5,227


				10,613	5,227
Current assets

	Debtors		5	1,281,393	59,424

	Cash at bank and in hand			320,589	552,689
				1,601,982	612,113
Creditors: Amount falling due within one year			6	(620,102)	(64,187)
Net current assets				981,880	547,926
Total assets less current liabilities				992,493	553,153
Creditors: Amounts falling due after more than one year			7	(40,266)	(45,245)



Net assets				952,227	507,908

Capital and reserves
	Called up share capital			212	212
	Share premium account		8	975,712	975,712


	Profit and loss account		8	(23,697)	(468,016)

Total equity				952,227	507,908



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 January 2023 the company was entitled to exemption from audit 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 10 October 2023
And signed on its behalf by:
G.J. Wildisen
Director
10 October 2023

for the year ended 31 January 2023

General information

Its registered number is: 12419388

Its registered office is:

26 Fordington Road

London

N6 4TJ

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Furniture, fittings and equipment

33% Straight Line

Research and development costs

Expenditure on research and development is written off in the year it is incurred unless it meets the criteria to allow it to be capitalised. Costs of research are always written off in the year in which they are incurred.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Defined contribution pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
			2023	2022
			Number	Number
		The average monthly number of employees (including directors) during the year was:	8	7

4	Tangible fixed assets
			Fixtures, fittings and equipment	Total
			£	£
		Cost or revaluation
		At 1 February 2022	7,020	7,020
		Additions	8,345	8,345



		At 31 January 2023	15,365	15,365
		Depreciation
		At 1 February 2022	1,793	1,793
		Charge for the year	2,959	2,959



		At 31 January 2023	4,752	4,752
		Net book values
		At 31 January 2023	10,613	10,613
		At 31 January 2022	5,227	5,227

5	Debtors
			2023	2022
			£	£
		Trade debtors	1,280,360	58,753





		Other debtors	128	128
		Prepayments and accrued income	905	543
			1,281,393	59,424

6	Creditors:
		amounts falling due within one year
			2023	2022
			£	£




		Trade creditors	154,761	7,382

		Taxes and social security	310,451	23,767
		Loans from directors	-	19,067
		Other creditors	4,070	2,320
		Accruals and deferred income	150,820	11,651
			620,102	64,187

7	Creditors:
		amounts falling due after more than one year
			2023	2022
			£	£

		Bank loans and overdrafts	40,266	45,245






			40,266	45,245

Reserves

Share premium account - includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.

Profit and loss account - includes all current and prior period retained profits and losses.