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Company Registration No. 08927656 (England and Wales)
Panda Solutions Ltd Unaudited accounts for the year ended 31 October 2023
Panda Solutions Ltd Unaudited accounts Contents
Page
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Panda Solutions Ltd Company Information for the year ended 31 October 2023
Director
M L Dobrin
Company Number
08927656 (England and Wales)
Registered Office
72 Great Suffolk Street London SE1 0BL England
Accountants
Helrik and Louw 72 Great Suffolk Street London SE1 0BL
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Panda Solutions Ltd Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
4,030 
3,736 
Current assets
Inventories
19,000 
20,000 
Debtors
86,178 
304,062 
Cash at bank and in hand
(6,115)
993 
99,063 
325,055 
Creditors: amounts falling due within one year
199,030 
(18,858)
Net current assets
298,093 
306,197 
Total assets less current liabilities
302,123 
309,933 
Creditors: amounts falling due after more than one year
(69,263)
(72,434)
Net assets
232,860 
237,499 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
232,850 
237,489 
Shareholders' funds
232,860 
237,499 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 July 2023 and were signed on its behalf by
M L Dobrin Director Company Registration No. 08927656
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Panda Solutions Ltd Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Panda Solutions Ltd is a private company, limited by shares, registered in England and Wales, registration number 08927656. The registered office is 72 Great Suffolk Street, London, SE1 0BL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% Straight Line
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Panda Solutions Ltd Notes to the Accounts for the year ended 31 October 2023
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2022
- 
7,474 
7,474 
Additions
1,399 
943 
2,342 
At 31 October 2023
1,399 
8,417 
9,816 
Depreciation
At 1 November 2022
- 
3,738 
3,738 
Charge for the year
- 
2,048 
2,048 
At 31 October 2023
- 
5,786 
5,786 
Net book value
At 31 October 2023
1,399 
2,631 
4,030 
At 31 October 2022
- 
3,736 
3,736 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
10,473 
- 
Trade debtors
75,705 
304,062 
86,178 
304,062 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
(1,706)
4,592 
VAT
- 
644 
Trade creditors
(184,811)
(4,193)
Taxes and social security
(16,568)
(18,480)
Other creditors
3,273 
36,198 
Loans from directors
782 
97 
(199,030)
18,858 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
69,263 
72,434 
8
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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