Company Registration No. 01592086 (England and Wales)
Panoramic Limited
Unaudited accounts
for the year ended 31 December 2024
Panoramic Limited
Unaudited accounts
Contents
Panoramic Limited
Company Information
for the year ended 31 December 2024
Company Number
01592086 (England and Wales)
Registered Office
2 Richmond Road
Mangotsfield
Bristol
BS16 9HB
Accountants
Space Advisory and Accountancy Limited
19 Malago Drive
Bristol
BS3 5DR
Panoramic Limited
Statement of financial position
as at 31 December 2024
Tangible assets
27,239
37,045
Inventories
57,512
107,906
Cash at bank and in hand
151,417
109,959
Creditors: amounts falling due within one year
(622,400)
(576,842)
Net current assets
270,617
328,454
Total assets less current liabilities
297,856
365,499
Creditors: amounts falling due after more than one year
(31,027)
(100,350)
Provisions for liabilities
Deferred tax
(7,039)
(3,676)
Net assets
259,790
261,473
Called up share capital
1,000
1,000
Profit and loss account
258,790
260,473
Shareholders' funds
259,790
261,473
For the year ending 31 December 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 22 July 2025 and were signed on its behalf by
John Lynch
Director
Company Registration No. 01592086
Panoramic Limited
Notes to the Accounts
for the year ended 31 December 2024
Panoramic Limited is a private company, limited by shares, registered in England and Wales, registration number 01592086. The registered office is 2 Richmond Road, Mangotsfield, Bristol, BS16 9HB.
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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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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:
Plant & machinery
15% Straight Line
Motor vehicles
25% Straight Line
Computer equipment
25% Straight Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Website - 33% Straight Line
Software - 20% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Panoramic Limited
Notes to the Accounts
for the year ended 31 December 2024
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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.
4
Intangible fixed assets
Other
At 31 December 2024
22,125
At 31 December 2024
22,125
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Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
37,540
212,709
16,425
266,674
Additions
-
6,249
1,777
8,026
At 31 December 2024
37,540
218,958
18,202
274,700
At 1 January 2024
22,987
193,720
12,922
229,629
Charge for the year
4,361
11,903
1,568
17,832
At 31 December 2024
27,348
205,623
14,490
247,461
At 31 December 2024
10,192
13,335
3,712
27,239
At 31 December 2023
14,553
18,989
3,503
37,045
Panoramic Limited
Notes to the Accounts
for the year ended 31 December 2024
Amounts falling due within one year
Trade debtors
82,584
86,224
Accrued income and prepayments
4,672
6,207
Other debtors
596,832
595,000
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
69,322
62,626
Trade creditors
162,717
124,069
Taxes and social security
26,167
59,329
Other creditors
12,572
(418)
Deferred income
299,121
280,556
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Creditors: amounts falling due after more than one year
2024
2023
9
Transactions with related parties
The company has taken advantage of the exemption under section 33 of FRS102 to not disclose balances between group companies.
The company is controlled by Panoramic Windows Holdings (No2) Limited, company no 12499019 ,a company incorporated in England & Wales.
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Average number of employees
During the year the average number of employees was 10 (2023: 10).