REGISTERED NUMBER: 09672086 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

PANDA LIFE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M Gilan

Mr T Teitelbaum

REGISTERED OFFICE:

Unit 26

Garrick Industrial Estate

Irving Way

London

NW9 6AQ

REGISTERED NUMBER:

09672086 (England and Wales)

ACCOUNTANTS:

mgr SD Limited

Chartered Accountants

55 Loudoun Road

St John's Wood

London

NW8 0DL

FIXED ASSETS

Tangible assets

4

732,961

854,062

Investments

5

21,013

-

753,974

854,062

CURRENT ASSETS

Stocks

1,904,448

2,241,105

Debtors

6

2,574,821

2,187,056

Cash at bank

734,335

446,456

5,213,604

4,874,617

CREDITORS

Amounts falling due within one year

7

(1,933,905

)

(2,004,825

)

NET CURRENT ASSETS

3,279,699

2,869,792

TOTAL ASSETS LESS CURRENT LIABILITIES

4,033,673

3,723,854

PROVISIONS FOR LIABILITIES

8

(96,358

)

(125,102

)

NET ASSETS

3,937,315

3,598,752

CAPITAL AND RESERVES

Called up share capital

9

10,000

10,000

Retained earnings

3,927,315

3,588,752

SHAREHOLDERS' FUNDS

3,937,315

3,598,752

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 June 2026 and were signed on its behalf by:

Mr M Gilan - Director

1.	STATUTORY INFORMATION

Panda Life Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% straight line

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2024 - 27 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Motor

Computer

leasehold

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2025

629,086

135,984

175,750

69,450

1,010,270

Additions

-

5,703

-

18,239

23,942

At 31 December 2025

629,086

141,687

175,750

87,689

1,034,212

DEPRECIATION

At 1 January 2025

69,059

33,975

25,777

27,397

156,208

Charge for year

63,570

35,323

28,519

17,631

145,043

At 31 December 2025

132,629

69,298

54,296

45,028

301,251

NET BOOK VALUE

At 31 December 2025

496,457

72,389

121,454

42,661

732,961

At 31 December 2024

560,027

102,009

149,973

42,053

854,062

5.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

Additions

21,013

At 31 December 2025

21,013

NET BOOK VALUE

At 31 December 2025

21,013

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

1,582,360

1,488,609

Other debtors

992,461

698,447

2,574,821

2,187,056

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Bank loans and overdrafts

23

-

Trade creditors

998,772

852,303

Taxation and social security

205,990

554,857

Other creditors

729,120

597,665

1,933,905

2,004,825

8.	PROVISIONS FOR LIABILITIES

31.12.25

31.12.24

£

£

Deferred tax

96,358

125,102

Deferred

tax

£

Balance at 1 January 2025

125,102

Credit to Income Statement during year

(28,744

)

Balance at 31 December 2025

96,358

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.25

31.12.24

value:

£

£

100

Ordinary

£100

10,000

10,000

10.	PENSION COMMITMENTS

The company makes payments to a defined contribution scheme on behalf of the employees. Amounts charged to the profit and loss account were £169,722 (2024: £20,179) for the year.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Matam Holdings Limited.

The ultimate controlling parties are Mr M Gilan and Mr T Teitelbaum.