Park Productions Limited
Unaudited Financial Statements
For the year ended 30 September 2023
Pages for Filing with Registrar
Company Registration No. 03568658 (England and Wales)
Park Productions Limited
Company Information
Directors
T N Massey
C M Massey
Company number
03568658
Registered office
6th Floor Charlotte Building
17 Gresse Street
London
W1T 1QL
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Park Productions Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Park Productions Limited
Balance Sheet
As at 30 September 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,323
6,614
Current assets
Debtors
4
2,449
10,361
Cash at bank and in hand
19,389
15,601
21,838
25,962
Creditors: amounts falling due within one year
5
(22,113)
(43,617)
Net current liabilities
(275)
(17,655)
Total assets less current liabilities
1,048
(11,041)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
948
(11,141)
Total equity
1,048
(11,041)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 3 February 2024 and are signed on its behalf by:
T N Massey
Director
Company Registration No. 03568658
Park Productions Limited
Notes to the Financial Statements
For the year ended 30 September 2023
Page 2
1
Accounting policies
Company information

Park Productions Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor Charlotte Building, 17 Gresse Street, London, W1T 1QL.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and for a period of at least twelve months following the approval of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Motor vehicles
3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company only has basic financial instruments at amortised cost, with no financial instruments classified as other or basic instrument measured at fair value.

Park Productions Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2023
1
Accounting policies
(Continued)
Page 3
1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

2
Employees

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

3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2022 and 30 September 2023
15,873
Depreciation and impairment
At 1 October 2022
9,259
Depreciation charged in the year
5,291
At 30 September 2023
14,550
Carrying amount
At 30 September 2023
1,323
At 30 September 2022
6,614
Park Productions Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2023
Page 4
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
8,660
Other debtors
2,449
1,701
2,449
10,361
5
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
15,989
10,757
Other creditors
4,124
30,860
Accruals and deferred income
2,000
2,000
22,113
43,617

The bank loans and overdrafts are secured by fixed and floating charges over all of the assets of the company.

6
Called up share capital
2023
2022
Ordinary share capital
£
£
Issued and fully paid
Ordinary A shares of £1 each
90
90
Ordinary B shares of £1 each
10
10
100
100
7
Directors' transactions
Included in other debtors is an amount of £4,124 (2022: £30,860) owed to the directors.
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