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REGISTERED NUMBER: 07427282 (England and Wales)









Unaudited Financial Statements

for the Year Ended 30 November 2023

for

The Panic Room Company Limited

The Panic Room Company Limited (Registered number: 07427282)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Panic Room Company Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: P Weldon





REGISTERED OFFICE: CFC House
Woodseats Close
Sheffield
South Yorkshire
S8 0TB





REGISTERED NUMBER: 07427282 (England and Wales)





ACCOUNTANTS: Camplejohn Rowan
CFC House
Acorn Business Park
Woodseats Close
Sheffield
South Yorkshire
S8 0TB

The Panic Room Company Limited (Registered number: 07427282)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 19,162 25,550

CURRENT ASSETS
Stocks 25,000 15,000
Debtors 5 75,657 79,621
Cash at bank 19,319 4,317
119,976 98,938
CREDITORS
Amounts falling due within one year 6 (88,513 ) (71,562 )
NET CURRENT ASSETS 31,463 27,376
TOTAL ASSETS LESS CURRENT
LIABILITIES

50,625

52,926

CREDITORS
Amounts falling due after more than one
year

7

(43,344

)

(49,636

)
NET ASSETS 7,281 3,290

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 7,280 3,289
SHAREHOLDERS' FUNDS 7,281 3,290

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

The Panic Room Company Limited (Registered number: 07427282)

Balance Sheet - continued
30 November 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 21 February 2024 and were signed by:





P Weldon - Director


The Panic Room Company Limited (Registered number: 07427282)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

The Panic Room Company 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 represents the sale and installation of goods. It is recognised when the goods are ordered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 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.

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 3 (2022 - 2 ) .

The Panic Room Company Limited (Registered number: 07427282)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2022 33,990 940 34,930
Additions 26,950 - 26,950
Disposals (26,950 ) - (26,950 )
At 30 November 2023 33,990 940 34,930
DEPRECIATION
At 1 December 2022 8,498 882 9,380
Charge for year 6,373 15 6,388
At 30 November 2023 14,871 897 15,768
NET BOOK VALUE
At 30 November 2023 19,119 43 19,162
At 30 November 2022 25,492 58 25,550

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 671 1,105
Other debtors 74,986 78,516
75,657 79,621

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 9,648 9,648
Hire purchase contracts 5,375 5,375
Trade creditors 15,029 15,172
Tax 15,253 15,253
VAT 9,500 21,195
Other creditors 1,310 1,888
Directors' current accounts 29,398 31
Accrued expenses 3,000 3,000
88,513 71,562

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 24,941 25,858
Hire purchase contracts 18,403 23,778
43,344 49,636