Panello Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08364911 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

PANELLO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A A Baker

N J Baker

REGISTERED OFFICE:

First Floor, Jebsen House

53-61 High Street

Ruislip

Middlesex

HA4 7BD

REGISTERED NUMBER:

08364911 (England and Wales)

ACCOUNTANTS:

Sproull & Co.

Chartered Accountants

First Floor, Jebsen House

53-61 High Street

Ruislip

Middlesex

HA4 7BD

FIXED ASSETS

Tangible assets

4

15,682

20,910

CURRENT ASSETS

Stocks

14,549

14,534

Debtors

5

647

3,716

Cash at bank

20,660

15,921

35,856

34,171

CREDITORS

Amounts falling due within one year

6

50,732

50,957

NET CURRENT LIABILITIES

(14,876

)

(16,786

)

TOTAL ASSETS LESS CURRENT LIABILITIES

806

4,124

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

706

4,024

SHAREHOLDERS' FUNDS

806

4,124

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7th December 2023 and were signed on its behalf by:

N J Baker - Director

1.	STATUTORY INFORMATION

Panello 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

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 cost and 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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2022

and 31st March 2023

27,955

DEPRECIATION

At 1st April 2022

7,045

Charge for year

5,228

At 31st March 2023

12,273

NET BOOK VALUE

At 31st March 2023

15,682

At 31st March 2022

20,910

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

-

2,642

Other debtors

647

1,074

647

3,716

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other creditors

50,732

50,957