Panache Creative Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07723278

Panache Creative Limited

Filleted Unaudited Financial Statements

31 March 2025

Panache Creative Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Panache Creative Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	6	1,889	2,222
Investments	7	108	108
		-------	-------
		1,997	2,330

Current assets

Debtors	8	85,560	88,365
Cash at bank and in hand		8,234	19,532
		--------	---------
		93,794	107,897

Creditors: amounts falling due within one year	9	30,741	34,846
		--------	---------
Net current assets		63,053	73,051
		--------	--------
Total assets less current liabilities		65,050	75,381

Creditors: amounts falling due after more than one year	10	5,448	11,874
		--------	--------
Net assets		59,602	63,507
		--------	--------

Capital and reserves

Called up share capital	80	80
Profit and loss account	59,522	63,427
	--------	--------
Shareholders funds	59,602	63,507
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 Act with respect to accounting records and the preparation of financial statements .

Panache Creative Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 9 January 2026 , and are signed on behalf of the board by:

Mr I Boyd-Stevenson	Mrs N Boyd-Stevenson
Director	Director

Company registration number: 07723278

Panache Creative Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Midway House, Herrick Way, Staverton Technology Park, Cheltenham, Glos, GL51 6TQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	15% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2024: 3 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2024 and 31 March 2025	80,000
	--------
Amortisation
At 1 April 2024 and 31 March 2025	80,000
	--------
Carrying amount
At 31 March 2025	–
	--------
At 31 March 2024	–
	--------

6. Tangible assets

	Equipment
	£
Cost
At 1 April 2024 and 31 March 2025	3,311
	-------
Depreciation
At 1 April 2024	1,089
Charge for the year	333
	-------
At 31 March 2025	1,422
	-------
Carrying amount
At 31 March 2025	1,889
	-------
At 31 March 2024	2,222
	-------

7. Investments

	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	108
	----
Impairment
At 1 April 2024 and 31 March 2025	–
	----

Carrying amount
At 31 March 2025	108
	----
At 31 March 2024	108
	----

The company owns issued share capital of the company's listed below, made up of

Panache South Limited, 20 Ordinary £1 shares, 20% owned Panache North Limited, 100 Ordinary £1 shares, 100% owned

Aggregate capital and reserves for the period end 31 March 2025

Panache North Limited -£29,585 (2024 - £27,724)

Panache South Limited £1,206 (2024 - £549)

Profit and (loss) for the year

Panache North Limited -£1,861 (2024 -£2,212)

Panache South Limited £56,939 (2024 £90,132)

The company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.

8. Debtors

	2025	2024
	£	£
Trade debtors	34,665	37,752
Amounts owed by group undertakings and undertakings in which the company has a participating interest	30,369	31,487
Other debtors	20,526	19,126
	--------	--------
	85,560	88,365
	--------	--------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	6,500	6,000
Trade creditors	3,700	1,353
Corporation tax	12,664	12,847
Social security and other taxes	6,121	10,176
Credit card control	832	1,424
Other creditors	924	3,046
	--------	--------
	30,741	34,846
	--------	--------

10. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	5,448	11,874
	-------	--------

11. Related party transactions

The company was under the control of Mr and Mrs Boyd-Stevenson throughout the current and previous year. Mrs Boyd-Stevenson is the managing director. The company has a 70% share holding in Panache South Limited and 100% share holding in Panache North Limited. Mr and Mrs Boyd-Stevenson are directors of both companies.