The Cheeky Panda Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09936357 (England and Wales)

Unaudited Financial Statements

for the Period 1 May 2017 to 30 June 2018

for

The Cheeky Panda Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

6

DIRECTORS:

C Forbes

Ms J Chen

K Hamid

REGISTERED OFFICE:

85 Great Portland Street

First Floor

Fitzrovia

London

W1W 7LT

REGISTERED NUMBER:

09936357 (England and Wales)

ACCOUNTANTS:

SFC Bennett Brooks Ltd

Suite 345

50 Eastcastle Street

Fitzrovia

London

W1W 8EA

FIXED ASSETS

Intangible assets

4

3,560

1,533

Tangible assets

5

6,810

-

10,370

1,533

CURRENT ASSETS

Stocks

238,432

31,254

Debtors

6

175,006

121,521

Cash at bank

199,094

41,979

612,532

194,754

CREDITORS

Amounts falling due within one year

7

101,858

64,905

NET CURRENT ASSETS

510,674

129,849

TOTAL ASSETS LESS CURRENT LIABILITIES

521,044

131,382

CAPITAL AND RESERVES

Called up share capital

9

12

11

Share premium

693,259

204,998

Retained earnings

(172,227

)

(73,627

)

SHAREHOLDERS' FUNDS

521,044

131,382

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 12 September 2018 and were signed on its behalf by:

Ms J Chen - Director

1.	STATUTORY INFORMATION

The Cheeky Panda 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Trademarks, along with associated costs, are being amortised evenly over their expected life of ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset

and the costs attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of

each asset on a systematic basis over its expected useful life as follows:

Fixtures and fittings

- 20% on cost

Computer equipment

- 25% on cost

Grants

The company recognises grants based on the performance model accounting. The grant is recognised within income upon

satisfaction of the performance-related conditions attached to the grant.

If a grant does not impose specified future performance-related conditions, the income is recognised in full when the grant

proceeds are received or receivable.

Stocks

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

items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

Share capital

Ordinary shares are classed as equity.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from

impairment are recognised in the Income Statement.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown

within borrowings in current liabilities.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are

measured at amortised cost using the effective interest rate method, less impairment.

Operating leases

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

the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2017 - NIL ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 May 2017

1,533

Additions

2,423

At 30 June 2018

3,956

AMORTISATION

Charge for period

396

At 30 June 2018

396

NET BOOK VALUE

At 30 June 2018

3,560

At 30 April 2017

1,533

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

8,121

At 30 June 2018

8,121

DEPRECIATION

Charge for period

1,311

At 30 June 2018

1,311

NET BOOK VALUE

At 30 June 2018

6,810

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

159,059

27,718

Other debtors

15,947

93,803

175,006

121,521

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

45,312

13,655

Taxation and social security

124

-

Other creditors

56,422

51,250

101,858

64,905

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Other loans

50,500

50,500

The loan in other loans is secured against the assets of the company to the value of £50,500.

Furthermore, Gapcap Limited hold a fixed and floating charge over the assets of the company.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

Value:

£

£

1,218,116

Ordinary

£0.00001

12

11

On the 25 September 2017, the 1,100 Ordinary shares in issue, with a nominal value of £0.01, were sub-divided into

1,100,000 Ordinary Shares with a nominal value of £0.00001 per share.

On 27 September 2017, 118,116 shares with a nominal value of £0.00001 were issued at a premium of £4.22999 per share.

10.	OTHER FINANCIAL COMMITMENTS

At the balance sheet date, the company had non-cancellable operating lease commitments totalling £1,760 (2017: Nil).

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited

financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet.

Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are

not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements

of The Cheeky Panda Limited for the period ended 30 June 2018 which comprise the Income Statement, Balance Sheet, Statement of

Changes in Equity and the related notes from the company's accounting records and from information and explanations you have

given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of The Cheeky Panda Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Cheeky Panda Limited and state those matters that we have agreed to state to the Board of Directors of The Cheeky Panda Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Cheeky Panda Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Cheeky Panda Limited. You consider that The Cheeky Panda Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of The Cheeky Panda Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

SFC Bennett Brooks Ltd

Suite 345

50 Eastcastle Street

Fitzrovia

London

W1W 8EA

12 September 2018