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Company Registration No. 08169105 (England and Wales)
PANAMA FASHION LIMITED Unaudited accounts for the year ended 31 August 2024
PANAMA FASHION LIMITED Unaudited accounts Contents
Page
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PANAMA FASHION LIMITED Company Information for the year ended 31 August 2024
Director
Yunus Patel
Company Number
08169105 (England and Wales)
Registered Office
77 LONDON STREET LEICESTER LE5 3RW
Accountants
Tally Tax Accountants Ltd 40 Ash Tree Road Oadby Leicester LE2 5YB
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PANAMA FASHION LIMITED Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
19,864 
24,272 
Current assets
Inventories
26,548 
18,562 
Debtors
514,442 
671,726 
Cash at bank and in hand
42,845 
228,141 
583,835 
918,429 
Creditors: amounts falling due within one year
(33,708)
(162,438)
Net current assets
550,127 
755,991 
Net assets
569,991 
780,263 
Capital and reserves
Called up share capital
200 
200 
Profit and loss account
569,791 
780,063 
Shareholders' funds
569,991 
780,263 
For the year ending 31 August 2024 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 his 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 19 May 2025 and were signed on its behalf by
Yunus Patel Director Company Registration No. 08169105
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PANAMA FASHION LIMITED Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
PANAMA FASHION LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08169105. The registered office is 77 LONDON STREET, LEICESTER, LE5 3RW.
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.
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:
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2023
59,001 
36,720 
95,721 
Additions
- 
558 
558 
At 31 August 2024
59,001 
37,278 
96,279 
Depreciation
At 1 September 2023
49,619 
21,830 
71,449 
Charge for the year
1,876 
3,090 
4,966 
At 31 August 2024
51,495 
24,920 
76,415 
Net book value
At 31 August 2024
7,506 
12,358 
19,864 
At 31 August 2023
9,382 
14,890 
24,272 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
15,442 
161,226 
Amounts falling due after more than one year
Other debtors
499,000 
510,500 
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PANAMA FASHION LIMITED Notes to the Accounts for the year ended 31 August 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
1,483 
34,959 
Trade creditors
23,092 
74,683 
Taxes and social security
1,005 
10,339 
Other creditors
- 
187 
Loans from directors
- 
823 
Accruals
8,128 
41,447 
33,708 
162,438 
7
Average number of employees
During the year the average number of employees was 7 (2023: 35).
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