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Registration number: 08079387

Production North (Holdings) Ltd

Annual Report and Unaudited Financial Statements

For The Year Ended 31 August 2023

 

Production North (Holdings) Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Production North (Holdings) Ltd

(Registration number: 08079387)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

           

Fixed assets

   

 

Investment property

4

 

1,200,000

 

1,200,000

Investments

5

 

1,000

 

1,000

   

1,201,000

 

1,201,000

Current assets

   

 

Debtors

6

333,017

 

295,525

 

Cash at bank and in hand

 

644,076

 

682,172

 

 

977,093

 

977,697

 

Creditors: Amounts falling due within one year

7

(475)

 

(375)

 

Net current assets

   

976,618

 

977,322

Net assets

   

2,177,618

 

2,178,322

Capital and reserves

   

 

Called up share capital

1,002

 

1,002

 

Profit and loss account

2,176,616

 

2,177,320

 

Total equity

   

2,177,618

 

2,178,322

For the financial year ending 31 August 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 27 March 2024 and signed on its behalf by:
 

.........................................
Mr I.B. Whitehead
Director

 

Production North (Holdings) Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 11, Fusion Court
Aberford Road
Garforth
Leeds
LS25 2GH

These financial statements were authorised for issue by the Board on 27 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is £ sterling.

Group accounts not prepared

The Company, as a parent company of a small group, is not required to prepare group accounts by virtue of the exemption within s399 Companies Act 2006. These financial statements therefore present information about the company as an individual undertaking and not about its group..

Going concern

The financial statements have been prepared on a going concern basis.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Production North (Holdings) Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 August 2023

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investment properties

2023
£

At 1 September

1,200,000

At 31 August

1,200,000

The directors have reviewed the fair value of the property. In the opinion of the directors the fair value of the property is not materially different to its carrying value.

5

Investments

2023
£

2022
£

Investments in subsidiaries

1,000

1,000

Subsidiaries

£

Cost or valuation

At 1 September 2022

1,000

Carrying amount

At 31 August 2023

1,000

At 31 August 2022

1,000

Production North (Holdings) Limited, as the parent company of a small group is not required to prepare group accounts by virtue of the exemption within s399 Companies Act 2006.

6

Debtors

Current

2023
£

2022
£

Owed by/(from) group undertakings

333,017

295,525

 

Production North (Holdings) Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 August 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Other creditors

475

375

8

Related party transactions

The Company's investment property is occupied by its subsidiary company. No charge for occupation was made in the year. (2022 £Nil)