REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st May 2024 |
for |
Panel Shop 2000 Ltd |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Whetcombe Whey |
Ropers Lane |
Wrington |
Somerset |
BS40 5NH |
BANKERS: |
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 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
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 |
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 |
DEPRECIATION |
At 1st June 2023 |
Charge for year |
At 31st May 2024 |
NET BOOK VALUE |
At 31st May 2024 |
At 31st May 2023 |
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. |