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REGISTERED NUMBER: 03994969 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st May 2024

for

Panel Shop 2000 Ltd

Panel Shop 2000 Ltd (Registered number: 03994969)






Contents of the Financial Statements
for the Year Ended 31st May 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Panel Shop 2000 Ltd

Company Information
for the Year Ended 31st May 2024







DIRECTOR: R H Allan



REGISTERED OFFICE: Units 3 - 4,
Worle Industrial Estate
Cater Road, Worle
Weston Super Mare
Somerset
BS22 6BX



REGISTERED NUMBER: 03994969 (England and Wales)



ACCOUNTANTS: R G Holder & Co Ltd
Chartered Accountants
Whetcombe Whey
Ropers Lane
Wrington
Somerset
BS40 5NH



BANKERS: HSBC
30 High Street
Weston Super Mare
Somerset
BS23 1JE

Panel Shop 2000 Ltd (Registered number: 03994969)

Abridged Balance Sheet
31st May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,893 5,841

CURRENT ASSETS
Stocks 41,719 45,572
Debtors 30,029 25,747
Cash at bank 63,487 61,398
135,235 132,717
CREDITORS
Amounts falling due within one year 32,262 31,171
NET CURRENT ASSETS 102,973 101,546
TOTAL ASSETS LESS CURRENT
LIABILITIES

106,866

107,387

CREDITORS
Amounts falling due after more than one year 50,194 54,187
NET ASSETS 56,672 53,200

CAPITAL AND RESERVES
Called up share capital 800 800
Retained earnings 55,872 52,400
SHAREHOLDERS' FUNDS 56,672 53,200

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 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.

Panel Shop 2000 Ltd (Registered number: 03994969)

Abridged Balance Sheet - continued
31st May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 5th September 2024 and were signed by:





R H Allan - Director


Panel Shop 2000 Ltd (Registered number: 03994969)

Notes to the Financial Statements
for the Year Ended 31st May 2024

1. STATUTORY INFORMATION

Panel Shop 2000 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.

The following accounting policies have been consistently applied in dealing with the items which are considered material to the company's accounts.

Turnover
Turnover consists of the invoiced value, excluding VAT, for goods and services supplied to third parties in the ordinary course of business during the year and is attributable to the principal activity of the company.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% Straight line basis over four years and Straight line over 5 years

Where appropriate, it is the company's policy to remove the original cost and the accumulated depreciation from the fixed assets of all those items that were acquired more than 10 years previously.

Stocks
Stock is stated at the lower of cost and net realisable value in the ordinary course of business.

Taxation
The charge for taxation is based on the trading profit or loss for the year and takes into account deferred taxation.

Full provision is made for deferred tax liabilities arising from timing differences between the recognition of gains and losses in the accounts and their recognition for corporate tax purposes. No account is taken for any deferred tax assets where they arise.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Panel Shop 2000 Ltd (Registered number: 03994969)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st June 2023
and 31st May 2024 56,754
DEPRECIATION
At 1st June 2023 50,913
Charge for year 1,948
At 31st May 2024 52,861
NET BOOK VALUE
At 31st May 2024 3,893
At 31st May 2023 5,841

Where appropriate, it is the company's policy to remove the original cost and the accumulated depreciation from the fixed assets of all those items that were acquired more than 10 years previously.

5. RELATED PARTY DISCLOSURES

The company paid rent of £14,400 ( 2023 - £14,300 ) to a joint venture in which the director of the company has an interest and is part owner of the property from which the company trades.

6. ULTIMATE CONTROLLING PARTY

The controlling party of the company is R H Allan by virtue of his majority shareholding.