Panarama Agencies Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 07346242 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 August 2015

for

Panarama Agencies Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

R Foster

SECRETARY:

Mrs J M Foster

REGISTERED OFFICE:

26 Priestgate

Barton upon Humber

North Lincolnshire

DN18 5ET

REGISTERED NUMBER:

07346242 (England and Wales)

ACCOUNTANTS:

Cooke Webster & Co

26 Priestgate

Barton upon Humber

North Lincolnshire

DN18 5ET

FIXED ASSETS

Intangible assets

2

7,500

8,000

Tangible assets

3

8,422

10,908

15,922

18,908

CURRENT ASSETS

Debtors

16,668

20,321

Cash at bank

112,115

80,931

128,783

101,252

CREDITORS

Amounts falling due within one year

29,958

25,566

NET CURRENT ASSETS

98,825

75,686

TOTAL ASSETS LESS CURRENT
LIABILITIES

114,747

94,594

CREDITORS

Amounts falling due after more than one
year

-

2,806

NET ASSETS

114,747

91,788

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

114,647

91,688

SHAREHOLDERS' FUNDS

114,747

91,788

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 22 April 2016 and were signed by:

R Foster - 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 January 2015).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

Pension contributions charged in the accounts relate to the personal pension arrangements of the director, Mr R

Foster.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

and 31 August 2015

10,000

AMORTISATION

At 1 September 2014

2,000

Amortisation for year

500

At 31 August 2015

2,500

NET BOOK VALUE

At 31 August 2015

7,500

At 31 August 2014

8,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2014

15,822

Additions

321

At 31 August 2015

16,143

DEPRECIATION

At 1 September 2014

4,914

Charge for year

2,807

At 31 August 2015

7,721

NET BOOK VALUE

At 31 August 2015

8,422

At 31 August 2014

10,908

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

100

Ordinary

£1

100