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REGISTERED NUMBER: 03515029 (England and Wales)















PARK LANE PRESS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023






PARK LANE PRESS LIMITED (REGISTERED NUMBER: 03515029)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PARK LANE PRESS LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTORS: T J Bacon
P Sudwell





SECRETARY: Mrs L Sudwell





REGISTERED OFFICE: Unit 11 Leafield Way
Leafield Industrial Estate
Corsham
Wiltshire
SN13 9SW





REGISTERED NUMBER: 03515029 (England and Wales)





ACCOUNTANTS: Clear Vision Accountancy Limited
1 Abacus House
Newlands Road
Corsham
Wiltshire
SN13 0BH

PARK LANE PRESS LIMITED (REGISTERED NUMBER: 03515029)

BALANCE SHEET
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 342,931 367,193
Tangible assets 5 1,209,971 1,467,899
Investments 6 723,866 732,467
2,276,768 2,567,559

CURRENT ASSETS
Stocks 213,074 222,273
Debtors 7 409,370 415,583
Cash at bank and in hand 102 26,993
622,546 664,849
CREDITORS
Amounts falling due within one year 8 949,295 1,618,415
NET CURRENT LIABILITIES (326,749 ) (953,566 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,950,019

1,613,993

CREDITORS
Amounts falling due after more than one
year

9

(687,257

)

(995,008

)

PROVISIONS FOR LIABILITIES (281,274 ) (171,808 )
NET ASSETS 981,488 447,177

CAPITAL AND RESERVES
Called up share capital 55,082 55,082
Capital redemption reserve 45,000 45,000
Retained earnings 881,406 347,095
SHAREHOLDERS' FUNDS 981,488 447,177

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

PARK LANE PRESS LIMITED (REGISTERED NUMBER: 03515029)

BALANCE SHEET - continued
31 March 2023


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 14 September 2023 and were signed on its behalf by:




P Sudwell - Director



T J Bacon - Director


PARK LANE PRESS LIMITED (REGISTERED NUMBER: 03515029)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Park Lane Press Limited 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on reducing balance
Plant and machinery etc - 33% on cost, 25% on reducing balance, 20% on reducing balance and 10% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

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.

PARK LANE PRESS LIMITED (REGISTERED NUMBER: 03515029)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. the capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits 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.

Going concern
The directors have assessed whether the company is a going concern and have considered all available information about the future and are confident of the company's ability to continue as a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2022 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 373,258
AMORTISATION
At 1 April 2022 6,065
Charge for year 24,262
At 31 March 2023 30,327
NET BOOK VALUE
At 31 March 2023 342,931
At 31 March 2022 367,193

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 114,590 2,971,558 3,086,148
Additions - 14,790 14,790
Disposals - (182,655 ) (182,655 )
At 31 March 2023 114,590 2,803,693 2,918,283
DEPRECIATION
At 1 April 2022 80,040 1,538,209 1,618,249
Charge for year 3,455 220,521 223,976
Eliminated on disposal - (133,913 ) (133,913 )
At 31 March 2023 83,495 1,624,817 1,708,312
NET BOOK VALUE
At 31 March 2023 31,095 1,178,876 1,209,971
At 31 March 2022 34,550 1,433,349 1,467,899

PARK LANE PRESS LIMITED (REGISTERED NUMBER: 03515029)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS - continued

Included in the net book value of £1,201,466 is £484,371 (2022 - £561,906) relating to assets held under hire purchase agreements. The depreciation charged to the financial statements in the period in respect of such assets amounted to £85,036 (2022 - £128,450).

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022 732,467
Additions (8,601 )
At 31 March 2023 723,866
NET BOOK VALUE
At 31 March 2023 723,866
At 31 March 2022 732,467

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 408,173 407,820
Other debtors 1,197 7,763
409,370 415,583

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans and overdrafts 225,429 185,441
Hire purchase contracts 152,890 214,990
Trade creditors 312,863 318,964
Amounts owed to group undertakings - 724,230
Taxation and social security 146,219 82,936
Other creditors 111,894 91,854
949,295 1,618,415

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans 281,789 452,610
Hire purchase contracts 405,468 542,398
687,257 995,008