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REGISTERED NUMBER: 12399115 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

PANDA COMMS LIMITED

PANDA COMMS LIMITED (REGISTERED NUMBER: 12399115)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PANDA COMMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTOR: W P Anderson





REGISTERED OFFICE: 400-402 Richmond Road
Sheffield
South Yorkshire
S13 8LZ





REGISTERED NUMBER: 12399115 (England and Wales)





ACCOUNTANTS: Jones Thorne Limited
400-402 Richmond Road
Sheffield
South Yorkshire
S13 8LZ

PANDA COMMS LIMITED (REGISTERED NUMBER: 12399115)

BALANCE SHEET
31 JANUARY 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,420 1,755

CURRENT ASSETS
Stocks 5,410 250
Debtors 5 5,317 3,247
Cash at bank 7,681 9,582
18,408 13,079
CREDITORS
Amounts falling due within one year 6 10,675 9,550
NET CURRENT ASSETS 7,733 3,529
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,153

5,284

CREDITORS
Amounts falling due after more than
one year

7

(3,323

)

(4,551

)

PROVISIONS FOR LIABILITIES (460 ) (333 )
NET ASSETS 6,370 400

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 6,350 380
6,370 400

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

PANDA COMMS LIMITED (REGISTERED NUMBER: 12399115)

BALANCE SHEET - continued
31 JANUARY 2023


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 17 October 2023 and were signed by:





W P Anderson - Director


PANDA COMMS LIMITED (REGISTERED NUMBER: 12399115)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Panda Comms 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.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

PANDA COMMS LIMITED (REGISTERED NUMBER: 12399115)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 February 2022 234 2,350 2,584
Additions 1,271 - 1,271
At 31 January 2023 1,505 2,350 3,855
DEPRECIATION
At 1 February 2022 3 826 829
Charge for year 225 381 606
At 31 January 2023 228 1,207 1,435
NET BOOK VALUE
At 31 January 2023 1,277 1,143 2,420
At 31 January 2022 231 1,524 1,755

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 5,010 2,880
Other debtors 307 367
5,317 3,247

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 1,179 1,148
Trade creditors 63 1,555
Taxation and social security 4,015 3,975
Other creditors 5,418 2,872
10,675 9,550

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans 3,323 4,551

PANDA COMMS LIMITED (REGISTERED NUMBER: 12399115)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is W P Anderson.