IRIS Accounts Production v23.3.0.418 03095793 Board of Directors 1.9.22 31.8.23 31.8.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh030957932022-08-31030957932023-08-31030957932022-09-012023-08-31030957932021-08-31030957932021-09-012022-08-31030957932022-08-3103095793ns10:Originalns15:EnglandWales2022-09-012023-08-3103095793ns14:PoundSterlingns10:Original2022-09-012023-08-3103095793ns10:Originalns10:Director12022-09-012023-08-3103095793ns10:Original2022-09-012023-08-3103095793ns10:Original2023-08-3103095793ns10:Originalns10:PrivateLimitedCompanyLtd2022-09-012023-08-3103095793ns10:Originalns10:SmallEntities2022-09-012023-08-3103095793ns10:Originalns10:AuditExempt-NoAccountantsReport2022-09-012023-08-3103095793ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-09-012023-08-3103095793ns10:SmallCompaniesRegimeForAccountsns10:Original2022-09-012023-08-3103095793ns10:Originalns10:FullAccounts2022-09-012023-08-3103095793ns10:Original12022-09-012023-08-3103095793ns10:Originalns10:Director22022-09-012023-08-3103095793ns10:Originalns10:Director32022-09-012023-08-3103095793ns10:Originalns10:RegisteredOffice2022-09-012023-08-3103095793ns10:Original2022-08-3103095793ns10:Originalns5:CurrentFinancialInstruments2023-08-3103095793ns10:Originalns5:CurrentFinancialInstruments2022-08-3103095793ns5:ShareCapitalns10:Original2023-08-3103095793ns5:ShareCapitalns10:Original2022-08-3103095793ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-08-3103095793ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-08-3103095793ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-09-012023-08-3103095793ns10:Originalns5:PlantMachinery2022-09-012023-08-3103095793ns10:Originalns5:MotorVehicles2022-09-012023-08-3103095793ns10:Originalns5:ComputerEquipment2022-09-012023-08-3103095793ns10:Original2021-09-012022-08-3103095793ns10:Originalns5:NetGoodwill2022-08-3103095793ns10:Originalns5:NetGoodwill2023-08-3103095793ns10:Originalns5:NetGoodwill2022-08-3103095793ns10:Originalns5:PlantMachinery2022-08-3103095793ns10:Originalns5:MotorVehicles2022-08-3103095793ns10:Originalns5:ComputerEquipment2022-08-3103095793ns10:Original2022-08-3103095793ns10:Originalns5:PlantMachinery2023-08-3103095793ns10:Originalns5:MotorVehicles2023-08-3103095793ns10:Originalns5:ComputerEquipment2023-08-3103095793ns10:Originalns5:PlantMachinery2022-08-3103095793ns10:Originalns5:MotorVehicles2022-08-3103095793ns10:Originalns5:ComputerEquipment2022-08-3103095793ns10:Originalns5:CostValuation2022-08-3103095793ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-08-3103095793ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-08-31
REGISTERED NUMBER: 03095793 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Product Licensing Company Limited

Product Licensing Company Limited (Registered number: 03095793)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Product Licensing Company Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: D J Chadwick
W H Ollis
R J Goodall





REGISTERED OFFICE: KKM Buildings
Old Reservoir Road
Farlington
Portsmouth
Hampshire
PO6 1SU





REGISTERED NUMBER: 03095793 (England and Wales)





ACCOUNTANTS: Hughes Spencer
12 Acorn Business Park
Northarbour Road
Portsmouth
Hampshire
PO6 3TH

Product Licensing Company Limited (Registered number: 03095793)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4 4
Tangible assets 5 130,156 116,338
Investments 6 43,398 43,398
173,558 159,740

CURRENT ASSETS
Stocks 250,380 166,207
Debtors 7 255,698 240,561
Cash at bank 667,584 549,903
1,173,662 956,671
CREDITORS
Amounts falling due within one year 8 124,140 97,293
NET CURRENT ASSETS 1,049,522 859,378
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,223,080

1,019,118

PROVISIONS FOR LIABILITIES 27,349 22,104
NET ASSETS 1,195,731 997,014

CAPITAL AND RESERVES
Called up share capital 40,002 40,002
Retained earnings 1,155,729 957,012
SHAREHOLDERS' FUNDS 1,195,731 997,014

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

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

Product Licensing Company Limited (Registered number: 03095793)

Balance Sheet - continued
31 August 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 23 October 2023 and were signed on its behalf by:





D J Chadwick - Director


Product Licensing Company Limited (Registered number: 03095793)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Product Licensing Company 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.

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.
Plant and machinery - 15% on reducing balance
Motor Vehicles - 25% on reducing balance
Computer equipment - 20% 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.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Product Licensing Company Limited (Registered number: 03095793)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued

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 11 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 4
NET BOOK VALUE
At 31 August 2023 4
At 31 August 2022 4

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery Vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2022 118,695 - 16,958 135,653
Additions 20,760 10,850 2,651 34,261
At 31 August 2023 139,455 10,850 19,609 169,914
DEPRECIATION
At 1 September 2022 5,127 - 14,188 19,315
Charge for year 17,035 2,486 922 20,443
At 31 August 2023 22,162 2,486 15,110 39,758
NET BOOK VALUE
At 31 August 2023 117,293 8,364 4,499 130,156
At 31 August 2022 113,568 - 2,770 116,338

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 September 2022
and 31 August 2023 43,398
NET BOOK VALUE
At 31 August 2023 43,398
At 31 August 2022 43,398

Product Licensing Company Limited (Registered number: 03095793)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 244,336 223,599
Other debtors 11,362 16,962
255,698 240,561

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 74,796 47,534
Taxation and social security 32,479 45,906
Other creditors 16,865 3,853
124,140 97,293

9. ULTIMATE CONTROLLING PARTY

The directors were the ultimate controlling party during the year.