Production North Limited 03829924 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is the production and staging of entertainment shows. Digita Accounts Production Advanced 6.30.9574.0 true true true 03829924 2022-09-01 2023-08-31 03829924 2023-08-31 03829924 core:RetainedEarningsAccumulatedLosses 2023-08-31 03829924 core:ShareCapital 2023-08-31 03829924 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2023-08-31 03829924 core:CurrentFinancialInstruments 2023-08-31 03829924 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 03829924 core:FurnitureFittingsToolsEquipment 2023-08-31 03829924 core:MotorVehicles 2023-08-31 03829924 core:OtherPropertyPlantEquipment 2023-08-31 03829924 bus:SmallEntities 2022-09-01 2023-08-31 03829924 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 03829924 bus:FullAccounts 2022-09-01 2023-08-31 03829924 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 03829924 bus:RegisteredOffice 2022-09-01 2023-08-31 03829924 bus:Director1 2022-09-01 2023-08-31 03829924 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 03829924 core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 03829924 core:MotorVehicles 2022-09-01 2023-08-31 03829924 core:OfficeEquipment 2022-09-01 2023-08-31 03829924 core:OtherPropertyPlantEquipment 2022-09-01 2023-08-31 03829924 core:PlantMachinery 2022-09-01 2023-08-31 03829924 1 2022-09-01 2023-08-31 03829924 countries:EnglandWales 2022-09-01 2023-08-31 03829924 2022-08-31 03829924 core:FurnitureFittingsToolsEquipment 2022-08-31 03829924 core:MotorVehicles 2022-08-31 03829924 core:OtherPropertyPlantEquipment 2022-08-31 03829924 2021-09-01 2022-08-31 03829924 2022-08-31 03829924 core:RetainedEarningsAccumulatedLosses 2022-08-31 03829924 core:ShareCapital 2022-08-31 03829924 core:CurrentFinancialInstruments 2022-08-31 03829924 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 03829924 core:FurnitureFittingsToolsEquipment 2022-08-31 03829924 core:MotorVehicles 2022-08-31 03829924 core:OtherPropertyPlantEquipment 2022-08-31 iso4217:GBP xbrli:pure

Registration number: 03829924

Production North Limited

Annual Report and Unaudited Financial Statements

For The Year Ended 31 August 2023

 

Production North Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Production North Limited

(Registration number: 03829924)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

           

Fixed assets

   

 

Tangible assets

4

 

89,298

 

76,547

Other financial assets

5

 

1,097,151

 

1,067,747

   

1,186,449

 

1,144,294

Current assets

   

 

Debtors

6

324,824

 

96,105

 

Cash at bank and in hand

 

66,740

 

435,630

 

 

391,564

 

531,735

 

Creditors: Amounts falling due within one year

7

(445,018)

 

(510,003)

 

Net current (liabilities)/assets

   

(53,454)

 

21,732

Total assets less current liabilities

   

1,132,995

 

1,166,026

Provisions for liabilities

 

(19,450)

 

(1,700)

Net assets

   

1,113,545

 

1,164,326

Capital and reserves

   

 

Called up share capital

2

 

2

 

Profit and loss account

1,113,543

 

1,164,324

 

Total equity

   

1,113,545

 

1,164,326

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 Limited

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.

Going concern

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when, the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the company.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Production North Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% on cost

Office fixtures and equipment

25% on cost

Motor vehicles

25% on the reducing balance

Investments

Investments in shares and other listed securities are included at fair value.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 5).

 

Production North Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2022

4,498

194,145

120,913

319,556

Additions

1,758

107,891

-

109,649

Disposals

(3,969)

(142,326)

(14,598)

(160,893)

At 31 August 2023

2,287

159,710

106,315

268,312

Depreciation

At 1 September 2022

2,504

132,717

107,788

243,009

Charge for the year

534

9,371

4,874

14,779

Eliminated on disposal

(2,360)

(61,816)

(14,598)

(78,774)

At 31 August 2023

678

80,272

98,064

179,014

Carrying amount

At 31 August 2023

1,609

79,438

8,251

89,298

At 31 August 2022

1,994

61,428

13,125

76,547

5

Other financial assets - Listed investments

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 September 2022

1,067,747

1,067,747

Fair value adjustments

27,808

27,808

Additions

1,285,367

1,285,367

Disposals

(1,283,771)

(1,283,771)

At 31 August 2023

1,097,151

1,097,151

Carrying amount

At 31 August 2023

1,097,151

1,097,151

 

Production North Limited

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

6

Debtors

Current

2023
£

2022
£

Trade debtors

212,851

85,302

Other debtors

111,973

10,803

 

324,824

96,105

Included within Other debtors is a loan to Mr S.J. Levitt, director of the Company of £100,000. The loan is interest free and repayable on demand.

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

8,786

13,132

Amounts owed to group undertakings

333,017

295,525

Taxation and social security

31,748

146,636

Other creditors

71,467

54,710

445,018

510,003

8

Related party transactions

The Company occupies premises owned by its holding company for which no charge was made in the year. (2022 £Nil)

9

Parent and ultimate parent undertaking

The company's immediate parent is Production North (Holdings) Limited, incorporated in England and Wales.