IRIS Accounts Production v22.1.0.628 01628124 director 1.1.21 31.12.21 31.12.21 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure016281242020-12-31016281242021-12-31016281242021-01-012021-12-31016281242019-12-31016281242020-01-012020-12-31016281242020-12-3101628124ns16:EnglandWales2021-01-012021-12-3101628124ns15:PoundSterling2021-01-012021-12-3101628124ns11:Director12021-01-012021-12-3101628124ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3101628124ns11:SmallEntities2021-01-012021-12-3101628124ns11:AuditExempt-NoAccountantsReport2021-01-012021-12-3101628124ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3101628124ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3101628124ns11:FullAccounts2021-01-012021-12-3101628124ns11:RegisteredOffice2021-01-012021-12-3101628124ns6:CurrentFinancialInstruments2021-12-3101628124ns6:CurrentFinancialInstruments2020-12-3101628124ns6:Non-currentFinancialInstruments2021-12-3101628124ns6:Non-currentFinancialInstruments2020-12-3101628124ns6:ShareCapital2021-12-3101628124ns6:ShareCapital2020-12-3101628124ns6:CapitalRedemptionReserve2021-12-3101628124ns6:CapitalRedemptionReserve2020-12-3101628124ns6:RetainedEarningsAccumulatedLosses2021-12-3101628124ns6:RetainedEarningsAccumulatedLosses2020-12-3101628124ns6:LandBuildings2021-01-012021-12-3101628124ns6:PlantMachinery2021-01-012021-12-3101628124ns6:LandBuildings2020-12-3101628124ns6:PlantMachinery2020-12-3101628124ns6:LandBuildings2021-12-3101628124ns6:PlantMachinery2021-12-3101628124ns6:LandBuildings2020-12-3101628124ns6:PlantMachinery2020-12-3101628124ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2020-12-3101628124ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2021-12-3101628124ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2021-01-012021-12-3101628124ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2020-12-3101628124ns6:CostValuation2020-12-3101628124ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3101628124ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-3101628124ns11:Director112020-12-3101628124ns11:Director112019-12-3101628124ns11:Director112021-01-012021-12-3101628124ns11:Director112020-01-012020-12-3101628124ns11:Director112021-12-3101628124ns11:Director112020-12-31
REGISTERED NUMBER: 01628124 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

Panorama Furnishing Mart Limited

Panorama Furnishing Mart Limited (Registered number: 01628124)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Panorama Furnishing Mart Limited

Company Information
for the Year Ended 31 December 2021







DIRECTOR: RS Rotheram





REGISTERED OFFICE: 11 Belmont Road
Anfield
Liverpool
Merseyside
L6 5BG





REGISTERED NUMBER: 01628124 (England and Wales)





ACCOUNTANTS: EBA Chartered Accountants
Ground Floor
Rear Barn
The Brookdale Centre
Knutsford
Cheshire
WA16 0SR

Panorama Furnishing Mart Limited (Registered number: 01628124)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 1,291,863 1,326,501
Investments 5 25 25
1,291,888 1,326,526

CURRENT ASSETS
Stocks 457,000 400,000
Debtors 6 2,292,010 2,686,041
Investments 7 614,798 547,965
Cash at bank and in hand 4,617,010 3,344,619
7,980,818 6,978,625
CREDITORS
Amounts falling due within one year 8 1,759,091 1,808,131
NET CURRENT ASSETS 6,221,727 5,170,494
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,513,615

6,497,020

CREDITORS
Amounts falling due after more than one
year

9

-

(62,681

)

PROVISIONS FOR LIABILITIES (129,396 ) (141,097 )
NET ASSETS 7,384,219 6,293,242

CAPITAL AND RESERVES
Called up share capital 1,100 1,100
Capital redemption reserve 200 200
Retained earnings 7,382,919 6,291,942
7,384,219 6,293,242

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 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.

Panorama Furnishing Mart Limited (Registered number: 01628124)

Balance Sheet - continued
31 December 2021


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 director and authorised for issue on 18 August 2022 and were signed by:





RS Rotheram - Director


Panorama Furnishing Mart Limited (Registered number: 01628124)

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

1. STATUTORY INFORMATION

Panorama Furnishing Mart 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 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.

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.
Land and buildings - 2% on cost
Plant and machinery etc - 30% on cost, 25% on reducing balance and 10% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Panorama Furnishing Mart Limited (Registered number: 01628124)

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

2. ACCOUNTING POLICIES - continued

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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2020 - 45 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1 January 2021 606,320 1,960,294 2,566,614
Additions 119,911 54,011 173,922
At 31 December 2021 726,231 2,014,305 2,740,536
DEPRECIATION
At 1 January 2021 92,307 1,147,806 1,240,113
Charge for year 13,746 194,814 208,560
At 31 December 2021 106,053 1,342,620 1,448,673
NET BOOK VALUE
At 31 December 2021 620,178 671,685 1,291,863
At 31 December 2020 514,013 812,488 1,326,501

Panorama Furnishing Mart Limited (Registered number: 01628124)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£
COST
At 1 January 2021 560,360
Transfer to ownership (410,030 )
At 31 December 2021 150,330
DEPRECIATION
At 1 January 2021 246,094
Charge for year 59,425
Transfer to ownership (235,033 )
At 31 December 2021 70,486
NET BOOK VALUE
At 31 December 2021 79,844
At 31 December 2020 314,266

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 January 2021
and 31 December 2021 25
NET BOOK VALUE
At 31 December 2021 25
At 31 December 2020 25

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£ £
Trade debtors 674,507 1,434,696
Amounts owed by group undertakings 587,258 1,098,691
Other debtors 1,030,245 152,654
2,292,010 2,686,041

7. CURRENT ASSET INVESTMENTS
31.12.21 31.12.20
£ £
Listed investments 614,798 547,965

Panorama Furnishing Mart Limited (Registered number: 01628124)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£ £
Bank loans and overdrafts - 4,723
Hire purchase contracts 17,404 65,097
Trade creditors 277,875 537,521
Amounts owed to group undertakings 200,025 8,760
Taxation and social security 292,686 413,092
Other creditors 971,101 778,938
1,759,091 1,808,131

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.21 31.12.20
£ £
Bank loans - 45,277
Hire purchase contracts - 17,404
- 62,681

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2021 and 31 December 2020:

31.12.21 31.12.20
£ £
RS Rotheram
Balance outstanding at start of year 26,617 35,669
Amounts advanced 865,617 28,448
Amounts repaid (82,780 ) (37,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 809,454 26,617

11. ULTIMATE CONTROLLING PARTY

The issued share capital is held by Panorama Kitchens (Holdings) Ltd, a company which is controlled by Mr R S Rotheram.