Company registration number 10964492 (England and Wales)
PANDA DEVELOPMENTS SOUTHERN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
PANDA DEVELOPMENTS SOUTHERN LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
PANDA DEVELOPMENTS SOUTHERN LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
259
390
Current assets
Stocks
375,009
375,009
Debtors
4
60,942
651
Cash at bank and in hand
1,864
2,433
437,815
378,093
Creditors: amounts falling due within one year
5
(122,688)
(309,855)
Net current assets
315,127
68,238
Total assets less current liabilities
315,386
68,628
Creditors: amounts falling due after more than one year
6
(314,161)
(91,482)
Net assets/(liabilities)
1,225
(22,854)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,125
(22,954)
Total equity
1,225
(22,854)
PANDA DEVELOPMENTS SOUTHERN LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
30 September 2024
- 2 -

For the financial year ended 30 September 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 13 June 2025 and are signed on its behalf by:
Mr P I Jewer
Director
Company registration number 10964492 (England and Wales)
PANDA DEVELOPMENTS SOUTHERN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Panda Developments Southern Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O James Todd & Co, Furzehall Farm, 110 Wickham Road, Fareham, Hampshire, England, PO16 7JH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
Reducing balance over 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.3
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.4
Stocks

Work in progress is valued at the lower of cost and net realisable value.

 

Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.

PANDA DEVELOPMENTS SOUTHERN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments

Debtors

 

Short term debtors are measured at transaction price (which is usually the retail or invoice price), less any impairment losses for bad and doubtful debts.

 

Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad or doubtful debts.

 

Creditors

 

Short term creditors are measured at transaction price (which is usually the invoice price).

 

Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

PANDA DEVELOPMENTS SOUTHERN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Computers
£
Cost
At 1 October 2023 and 30 September 2024
623
Depreciation and impairment
At 1 October 2023
233
Depreciation charged in the year
131
At 30 September 2024
364
Carrying amount
At 30 September 2024
259
At 30 September 2023
390
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
900
-
0
Other debtors
60,042
651
60,942
651
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
85,556
5,556
Taxation and social security
95
1,173
Other creditors
37,037
303,126
122,688
309,855
PANDA DEVELOPMENTS SOUTHERN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
314,161
91,482
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
1,900
-
Payable other than by instalments
288,281
-
290,181
-
0
7
Secured Debts

Loans and mortgages totalling £368,281 (2023 £60,000) are secured over the property of the company and a second charge over the directors' personal property.

8
Directors' transactions

Dividends totalling £1,000 (2023 - £2,000) were paid in the year in respect of shares held by the company's directors.

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
Advance
2.25
-
59,558
111
59,669
-
59,558
111
59,669
2024-09-302023-10-01falsefalsefalse16 June 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr P I JewerMrs A M Jewer109644922023-10-012024-09-30109644922024-09-30109644922023-09-3010964492core:ComputerEquipment2024-09-3010964492core:ComputerEquipment2023-09-3010964492core:CurrentFinancialInstrumentscore:WithinOneYear2024-09-3010964492core:CurrentFinancialInstrumentscore:WithinOneYear2023-09-3010964492core:Non-currentFinancialInstrumentscore:AfterOneYear2024-09-3010964492core:Non-currentFinancialInstrumentscore:AfterOneYear2023-09-3010964492core:CurrentFinancialInstruments2024-09-3010964492core:CurrentFinancialInstruments2023-09-3010964492core:Non-currentFinancialInstrumentscore:MoreThanFiveYears2024-09-3010964492core:Non-currentFinancialInstrumentscore:MoreThanFiveYears2023-09-3010964492core:ShareCapital2024-09-3010964492core:ShareCapital2023-09-3010964492core:RetainedEarningsAccumulatedLosses2024-09-3010964492core:RetainedEarningsAccumulatedLosses2023-09-3010964492bus:Director12023-10-012024-09-3010964492core:ComputerEquipment2023-10-012024-09-30109644922022-10-012023-09-3010964492core:ComputerEquipment2023-09-3010964492core:WithinOneYear2024-09-3010964492core:WithinOneYear2023-09-3010964492core:Non-currentFinancialInstruments2024-09-3010964492core:Non-currentFinancialInstruments2023-09-3010964492bus:PrivateLimitedCompanyLtd2023-10-012024-09-3010964492bus:SmallCompaniesRegimeForAccounts2023-10-012024-09-3010964492bus:FRS1022023-10-012024-09-3010964492bus:AuditExemptWithAccountantsReport2023-10-012024-09-3010964492bus:Director22023-10-012024-09-3010964492bus:FullAccounts2023-10-012024-09-30xbrli:purexbrli:sharesiso4217:GBP