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REGISTERED NUMBER: 10848888 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

Panatonic Ltd

Panatonic Ltd (Registered number: 10848888)

Contents of the Financial Statements
for the Year Ended 31 December 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Panatonic Ltd

Company Information
for the Year Ended 31 December 2021







DIRECTORS: P S Flowerdew
Mrs N M Flowerdew





REGISTERED OFFICE: 7 Bower Road
Wrecclesham
Farnham
Surrey
GU10 4ST





REGISTERED NUMBER: 10848888 (England and Wales)





ACCOUNTANTS: Lime Accountancy Limited
7 Bower Road
Wrecclesham
Farnham
Surrey
GU10 4ST

Panatonic Ltd (Registered number: 10848888)

Balance Sheet
31 December 2021

31/12/21 31/12/20
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 273 309
Tangible assets 5 1,425 1,000
1,698 1,309

CURRENT ASSETS
Stocks 744 356
Debtors 6 155 274
Cash at bank 17,201 7,695
18,100 8,325
CREDITORS
Amounts falling due within one year 7 13,289 6,956
NET CURRENT ASSETS 4,811 1,369
TOTAL ASSETS LESS CURRENT LIABILITIES 6,509 2,678

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 6,409 2,578
6,509 2,678

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 August 2022 and were signed on its behalf by:





Mrs N M Flowerdew - Director


Panatonic Ltd (Registered number: 10848888)

Notes to the Financial Statements
for the Year Ended 31 December 2021


1. STATUTORY INFORMATION

Panatonic Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

Panatonic Ltd (Registered number: 10848888)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021
and 31 December 2021 360
AMORTISATION
At 1 January 2021 51
Charge for year 36
At 31 December 2021 87
NET BOOK VALUE
At 31 December 2021 273
At 31 December 2020 309

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 January 2021 700 790 1,490
Additions 900 - 900
At 31 December 2021 1,600 790 2,390
DEPRECIATION
At 1 January 2021 230 260 490
Charge for year 343 132 475
At 31 December 2021 573 392 965
NET BOOK VALUE
At 31 December 2021 1,027 398 1,425
At 31 December 2020 470 530 1,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/21 31/12/20
£    £   
Trade debtors - 13
Prepayments 155 261
155 274

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/21 31/12/20
£    £   
Tax 1,239 530
Other creditors 250 835
Directors' current accounts 3,797 3,297
Deferred income 5,821 1,584
Accrued expenses 2,182 710
13,289 6,956