Abstract: A panel assembly comprises a composite slab having a front surface of a veneer laminated to a core. A moulding is affixed to the slab surface to define a decorative panel design. A groove is provided in the slab to receive the moulding which has a base portion for fitment in the groove and flanges along its edges for overlapping and contacting the veneer along the groove upper edges. The moulding has a recess formed in the base below the flange portions to provide the visual effect of a panel design.