1 October 2022 false No description of principal activity Taxfiler 2024.5 07392830business:PrivateLimitedCompanyLtd2022-10-012023-11-30 073928302022-09-30 073928302022-10-012023-11-30 07392830business:AuditExempt-NoAccountantsReport2022-10-012023-11-30 07392830business:FilletedAccounts2022-10-012023-11-30 073928302023-11-30 07392830business:Director12022-10-012023-11-30 07392830business:Director22022-10-012023-11-30 07392830business:RegisteredOffice2022-10-012023-11-30 073928302022-09-30 07392830core:WithinOneYear2023-11-30 07392830core:WithinOneYear2022-09-30 07392830core:AfterOneYear2023-11-30 07392830core:AfterOneYear2022-09-30 07392830core:ShareCapitalcore:PreviouslyStatedAmount2023-11-30 07392830core:ShareCapitalcore:PreviouslyStatedAmount2022-09-30 07392830core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-11-30 07392830core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-09-30 07392830core:PreviouslyStatedAmount2023-11-30 07392830core:PreviouslyStatedAmount2022-09-30 07392830business:SmallEntities2022-10-012023-11-30 07392830countries:EnglandWales2022-10-012023-11-30 07392830core:LandBuildings2022-10-012023-11-30 07392830core:PlantMachinery2022-10-012023-11-30 07392830core:MotorVehicles2022-10-012023-11-30 07392830core:FurnitureFittings2022-10-012023-11-30 07392830core:LandBuildings2022-09-30 07392830core:PlantMachinery2022-09-30 07392830core:MotorVehicles2022-09-30 07392830core:FurnitureFittings2022-09-30 07392830core:ComputerEquipment2022-09-30 07392830core:ComputerEquipment2022-10-012023-11-30 07392830core:LandBuildings2023-11-30 07392830core:PlantMachinery2023-11-30 07392830core:MotorVehicles2023-11-30 07392830core:FurnitureFittings2023-11-30 07392830core:ComputerEquipment2023-11-30 073928302021-10-012022-09-30 iso4217:GBP xbrli:pure
Company Registration No. 07392830 (England and Wales)
Park Lane NE Ltd Unaudited accounts for the period from 1 October 2022 to 30 November 2023
Park Lane NE Ltd Unaudited accounts Contents
Page
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Park Lane NE Ltd Company Information for the period from 1 October 2022 to 30 November 2023
Directors
John Dickman Karen Dickman
Company Number
07392830 (England and Wales)
Registered Office
13-14 Derwent Street Sunderland SR1 3NT
Accountants
Waite Accountants Limited Hope Street Xchange 1-3 Hind Street Sunderland SR1 3QD
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Park Lane NE Ltd Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
294,356 
325,427 
Current assets
Inventories
25,970 
22,970 
Debtors
31,222 
12,000 
Cash at bank and in hand
138,455 
197,199 
195,647 
232,169 
Creditors: amounts falling due within one year
(691,930)
(905,052)
Net current liabilities
(496,283)
(672,883)
Total assets less current liabilities
(201,927)
(347,456)
Creditors: amounts falling due after more than one year
(17,919)
(27,434)
Provisions for liabilities
Deferred tax
(49,559)
(39,647)
Net liabilities
(269,405)
(414,537)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(269,505)
(414,637)
Shareholders' funds
(269,405)
(414,537)
For the period ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 August 2024 and were signed on its behalf by
Karen Dickman Director Company Registration No. 07392830
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Park Lane NE Ltd Notes to the Accounts for the period from 1 October 2022 to 30 November 2023
1
Statutory information
Park Lane NE Ltd is a private company, limited by shares, registered in England and Wales, registration number 07392830. The registered office is 13-14 Derwent Street, Sunderland, SR1 3NT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Park Lane NE Ltd Notes to the Accounts for the period from 1 October 2022 to 30 November 2023
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 October 2022
872,908 
4,700 
3,998 
429,708 
- 
1,311,314 
Additions
- 
36,237 
89,990 
11,124 
1,832 
139,183 
At 30 November 2023
872,908 
40,937 
93,988 
440,832 
1,832 
1,450,497 
Depreciation
At 1 October 2022
697,096 
101 
1,904 
286,786 
- 
985,887 
Charge for the period
101,839 
8,891 
13,647 
45,785 
92 
170,254 
At 30 November 2023
798,935 
8,992 
15,551 
332,571 
92 
1,156,141 
Net book value
At 30 November 2023
73,973 
31,945 
78,437 
108,261 
1,740 
294,356 
At 30 September 2022
175,812 
4,599 
2,094 
142,922 
- 
325,427 
5
Inventories
2023 
2022 
£ 
£ 
Finished goods
25,970 
22,970 
25,970 
22,970 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
2,988 
- 
Accrued income and prepayments
27,015 
- 
Other debtors
1,219 
12,000 
31,222 
12,000 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,648 
41,386 
VAT
54,982 
86,384 
Trade creditors
44,736 
52,976 
Taxes and social security
77,182 
42,261 
Other creditors
14,332 
267 
Loans from directors
485,155 
638,593 
Accruals
- 
43,185 
Deferred income
4,895 
- 
691,930 
905,052 
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Park Lane NE Ltd Notes to the Accounts for the period from 1 October 2022 to 30 November 2023
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
15,967 
27,434 
Other creditors
1,952 
- 
17,919 
27,434 
9
Transactions with related parties
Key management personnel of the entity (in the aggregate) Amount due to related party 2023- £485,155 2022- £638,593 No interest is charged on the above loan.
10
Average number of employees
During the period the average number of employees was 34 (2022: 32).
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