Panda Panel Agencies Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04923590 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 November 2015

for

Panda Panel Agencies Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

C C H Williams

SECRETARY:

Mrs Y J Williams

REGISTERED OFFICE:

9 St George's Yard

Castle Street

Farnham

Surrey

GU9 7LW

REGISTERED NUMBER:

04923590 (England and Wales)

ACCOUNTANTS:

Blackwood Futcher & Co.

Chartered Accountants

9 St George's Yard

Farnham

Surrey

GU9 7LW

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

235

340

Investments

4

3,712

-

3,947

340

CURRENT ASSETS

Stocks

115,571

-

Debtors

254,280

309,124

Cash at bank

83,560

132,619

453,411

441,743

CREDITORS

Amounts falling due within one year

5

376,887

327,771

NET CURRENT ASSETS

76,524

113,972

TOTAL ASSETS LESS CURRENT
LIABILITIES

80,471

114,312

CAPITAL AND RESERVES

Called up share capital

6

100

Profit and loss account

80,371

114,212

SHAREHOLDERS' FUNDS

80,471

114,312

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 31 March 2016 and were signed by:

C C H Williams - 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 2003, 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.

Fixtures and fittings

-

25% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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

period of the lease.

Fixed asset investments

Listed investments are classed as fixed assets and are shown at cost.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2014

and 30 November 2015

30,000

AMORTISATION

At 1 December 2014

and 30 November 2015

30,000

NET BOOK VALUE

At 30 November 2015

-

At 30 November 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2014

and 30 November 2015

26,916

DEPRECIATION

At 1 December 2014

26,576

Charge for year

105

At 30 November 2015

26,681

NET BOOK VALUE

At 30 November 2015

235

At 30 November 2014

340

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

Additions

3,712

At 30 November 2015

3,712

NET BOOK VALUE

At 30 November 2015

3,712

5.

CREDITORS

Creditors include an amount of £ 45,743 (30.11.14 - £ 139,349 ) for which security has been given.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.15

30.11.14

value:

£

75

Ordinary A

£1

75

25

Ordinary B

£1

25

100

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2015 and

30 November 2014:

30.11.15

30.11.14

£

C C H Williams

Balance outstanding at start of year

(1,124

)

(15,202

)

Amounts advanced

7,981

14,078

Amounts repaid

(6,000

)

-

Balance outstanding at end of year

857

(1,124

)

The maximum amount outstanding during the year and due to the company by the director was £857. No interest

was payable during the year on this balance.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C C H Williams.