Panton Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04569937 (England and Wales)

Financial Statements for the Year Ended 31 December 2017

for

Panton Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R J M Panton

SECRETARY:

Mrs A L Panton

REGISTERED OFFICE:

Foresters Hall

25/27 Westow Street

Upper Norwood

London

SE19 3RY

REGISTERED NUMBER:

04569937 (England and Wales)

ACCOUNTANTS:

Gibsons Financial Limited

Chartered Accountants

Foresters Hall

25/27 Westow Street

Upper Norwood

London

SE19 3RY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

6,266

6,266

6,266

6,266

CURRENT ASSETS

Stocks

-

9,620

Debtors

5,876

5,876

Cash at bank

14,882

14,882

20,758

30,378

CREDITORS

Amounts falling due within one year

(20,074

)

(20,074

)

NET CURRENT ASSETS

684

10,304

TOTAL ASSETS LESS CURRENT LIABILITIES

6,950

16,570

CREDITORS

Amounts falling due after more than one year

(34,500

)

(34,500

)

PROVISIONS FOR LIABILITIES

(1,107

)

(1,107

)

NET LIABILITIES

(28,657

)

(19,037

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(28,757

)

(19,137

)

SHAREHOLDERS' FUNDS

(28,657

)

(19,037

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 28 September 2018 and were signed by:

R J M Panton - Director

1.	STATUTORY INFORMATION

Panton 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 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 represents net invoiced sales of goods and services. These amounts include direct recoverable

expenses but exclude value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, has been fully

written off.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, fittings & equipment

-

25% on reducing balance

Computer equipment

-

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

Taxation for the year 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.

Deferred tax

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

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2017

and 31 December 2017

10,000

AMORTISATION

At 1 January 2017

and 31 December 2017

10,000

NET BOOK VALUE

At 31 December 2017

-

At 31 December 2016

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2017

and 31 December 2017

26,157

DEPRECIATION

At 1 January 2017

and 31 December 2017

19,891

NET BOOK VALUE

At 31 December 2017

6,266

At 31 December 2016

6,266

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in creditors is an amount owing to the director by the company of £154.

7.	RELATED PARTY DISCLOSURES

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr R J M Panton and Mrs A L Panton.