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Company Registration No. 11052225 (England and Wales)
Panella London Ltd Unaudited accounts for the year ended 30 November 2024
Panella London Ltd Unaudited accounts Contents
Page
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Panella London Ltd Statement of financial position as at 30 November 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
6,000 
8,000 
Tangible assets
10,633 
2,527 
16,633 
10,527 
Current assets
Inventories
1,500 
1,500 
Debtors
13,369 
7,646 
Cash at bank and in hand
100,243 
63,513 
115,112 
72,659 
Creditors: amounts falling due within one year
(23,990)
(27,103)
Net current assets
91,122 
45,556 
Net assets
107,755 
56,083 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
107,655 
55,983 
Shareholders' funds
107,755 
56,083 
For the year ending 30 November 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 directors acknowledge their 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 of Directors and authorised for issue on 28 August 2025 and were signed on its behalf by
Giuseppe Di Matteo Director Company Registration No. 11052225
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Panella London Ltd Notes to the Accounts for the year ended 30 November 2024
1
Statutory information
Panella London Ltd is a private company, limited by shares, registered in England and Wales, registration number 11052225. The registered office is 2 Kington House, Mortimer Crescent, London, NW6 5NU, United Kingdom.
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 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 in he same accounts. For the year ended 30th November 2023 the company prepared accounts under FRS 105 the Financial Reporting Standard applicable to the Micro-entities regime. These financial statements for the year ended 30th November 2024 have been prepared to comply with FRS102 Section 1A small entities. The transition to FRS 102 Section 1A small entities has not resulted in any changes in accounting policy. The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Income is recognised when goods have been supplied to customers. Income from services is recognised once the service has been fully supplied to customers.
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:
Motor vehicles
25% per annum of cost
Fixtures & fittings
25% per annum of cost
Computer equipment
33.3% per annum of cost
Intangible fixed assets
Goodwill is capitalised and is being amortised over its useful life of 10 years.
Inventories
Inventories of food have been valued at cost.
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Panella London Ltd Notes to the Accounts for the year ended 30 November 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted. Only deferred tax assets or liabilities that are considered material are included in the company's accounts.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 December 2023
20,000 
At 30 November 2024
20,000 
Amortisation
At 1 December 2023
12,000 
Charge for the year
2,000 
At 30 November 2024
14,000 
Net book value
At 30 November 2024
6,000 
At 30 November 2023
8,000 
5
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 December 2023
- 
2,958 
2,958 
Additions
3,800 
5,680 
9,480 
At 30 November 2024
3,800 
8,638 
12,438 
Depreciation
At 1 December 2023
- 
431 
431 
Charge for the year
634 
740 
1,374 
At 30 November 2024
634 
1,171 
1,805 
Net book value
At 30 November 2024
3,166 
7,467 
10,633 
At 30 November 2023
- 
2,527 
2,527 
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Panella London Ltd Notes to the Accounts for the year ended 30 November 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
7,375 
3,896 
Accrued income and prepayments
1,175 
- 
Other debtors
4,819 
3,750 
13,369 
7,646 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
4,505 
4,896 
Taxes and social security
15,088 
19,513 
Other creditors
3,059 
1,673 
Accruals
1,338 
1,021 
23,990 
27,103 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Loans to directors
The Directors have a joint loan account. During the year the loan became overdrawn and the Directors were advanced £5,962 (2023: Nil). The Directors made repayments of £1,143 (2023: Nil) and at 30th November 2023 the loan account was overdrawn by £4,819. Interest is charged on the loan if the outstanding balance is more than £10,000 and interest is charged on the outstanding balance using the official rate as set by HMRC. As the overdrawn balance on the loan did not exceed £10,000, no interest has been charged on the loan (2023: Nil). The loan is unsecured and is repayable on demand.
10
Average number of employees
During the year the average number of employees was 3 (2023: 4).
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