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Registration number: 05959761

Panelcraft UK Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Panelcraft UK Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Panelcraft UK Limited

Company Information

Director

Mr J W MacKinnon

Registered office

Scuderia House
Newcombe Drive
Hawksworth Trading Estate
Swindon
Wiltshire
SN2 1EG

Accountants

Regulatory Accounting Ltd
T/A Optimum Professional Services
Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE

 

Panelcraft UK Limited

(Registration number: 05959761)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

112,031

137,668

Current assets

 

Stocks

5

50,000

140,000

Debtors

6

385,742

361,371

Cash at bank and in hand

 

31

31

 

435,773

501,402

Creditors: Amounts falling due within one year

7

(275,977)

(291,718)

Net current assets

 

159,796

209,684

Total assets less current liabilities

 

271,827

347,352

Creditors: Amounts falling due after more than one year

7

(78,839)

(128,951)

Provisions for liabilities

(23,775)

(21,866)

Net assets

 

169,213

196,535

Capital and reserves

 

Called up share capital

2

2

Retained earnings

169,211

196,533

Shareholders' funds

 

169,213

196,535

 

Panelcraft UK Limited

(Registration number: 05959761)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 28 March 2025
 

.........................................
Mr J W MacKinnon
Director

 

Panelcraft UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The presentation currency of the financial statements is the Pound Sterling (£).

The address of its registered office is:
Scuderia House
Newcombe Drive
Hawksworth Trading Estate
Swindon
Wiltshire
SN2 1EG
England

These financial statements were authorised for issue by the director on 28 March 2025.

2

Accounting policies

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

15% reducing balance method

Fixtures and fittings

15% reducing balance method

Motor vehicles

25% reducing balance method

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Panelcraft UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 12 (2023 - 9).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

59,129

279,253

296,898

635,280

Additions

2,183

-

-

2,183

At 31 March 2024

61,312

279,253

296,898

637,463

Depreciation

At 1 April 2023

46,235

210,827

240,550

497,612

Charge for the year

2,262

17,106

8,452

27,820

At 31 March 2024

48,497

227,933

249,002

525,432

Carrying amount

At 31 March 2024

12,815

51,320

47,896

112,031

At 31 March 2023

12,894

68,426

56,348

137,668

5

Stocks

2024
£

2023
£

Other inventories

50,000

140,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

71,026

124,326

Other debtors

314,716

237,045

 

385,742

361,371

 

Panelcraft UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

80,621

66,386

Trade creditors

 

129,096

161,582

Taxation and social security

 

44,445

63,780

Accruals and deferred income

 

4,274

3,885

Other creditors

 

17,541

(3,915)

 

275,977

291,718

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

78,839

128,951