Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-311612truetruefalse2023-01-01luxury retail services agency, specialising in managing and delivering the entire suite of in-store promotional activities and exhibitionsfalse1613truetrue 08274031 2023-01-01 2023-12-31 08274031 2022-01-01 2022-12-31 08274031 2023-12-31 08274031 2022-12-31 08274031 c:Director1 2023-01-01 2023-12-31 08274031 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 08274031 d:Buildings d:LongLeaseholdAssets 2023-12-31 08274031 d:Buildings d:LongLeaseholdAssets 2022-12-31 08274031 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 08274031 d:PlantMachinery 2023-01-01 2023-12-31 08274031 d:PlantMachinery 2023-12-31 08274031 d:PlantMachinery 2022-12-31 08274031 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08274031 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 08274031 d:MotorVehicles 2023-01-01 2023-12-31 08274031 d:MotorVehicles 2023-12-31 08274031 d:MotorVehicles 2022-12-31 08274031 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08274031 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 08274031 d:OfficeEquipment 2023-01-01 2023-12-31 08274031 d:OfficeEquipment 2023-12-31 08274031 d:OfficeEquipment 2022-12-31 08274031 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08274031 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 08274031 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08274031 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 08274031 d:CurrentFinancialInstruments 2023-12-31 08274031 d:CurrentFinancialInstruments 2022-12-31 08274031 d:Non-currentFinancialInstruments 2023-12-31 08274031 d:Non-currentFinancialInstruments 2022-12-31 08274031 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08274031 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08274031 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 08274031 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 08274031 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 08274031 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 08274031 d:ShareCapital 2023-12-31 08274031 d:ShareCapital 2022-12-31 08274031 d:RetainedEarningsAccumulatedLosses 2023-12-31 08274031 d:RetainedEarningsAccumulatedLosses 2022-12-31 08274031 c:FRS102 2023-01-01 2023-12-31 08274031 c:Audited 2023-01-01 2023-12-31 08274031 c:FullAccounts 2023-01-01 2023-12-31 08274031 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08274031 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08274031 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 08274031 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 08274031 2 2023-01-01 2023-12-31 08274031 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 08274031










PARDGROUP UK LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
PARDGROUP UK LTD
REGISTERED NUMBER: 08274031

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
98,931
111,123

  
98,931
111,123

Current assets
  

Stocks
  
5,131
-

Debtors
 5 
612,225
539,913

Cash at bank and in hand
 6 
381,910
640,553

  
999,266
1,180,466

Creditors: amounts falling due within one year
 7 
(392,799)
(374,292)

Net current assets
  
 
 
606,467
 
 
806,174

Total assets less current liabilities
  
705,398
917,297

Creditors: amounts falling due after more than one year
 8 
(112,500)
(176,808)

Provisions for liabilities
  

Deferred tax
 10 
(21,140)
(25,088)

  
 
 
(21,140)
 
 
(25,088)

Net assets
  
571,758
715,401


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
571,658
715,301

  
571,758
715,401

Page 1

 
PARDGROUP UK LTD
REGISTERED NUMBER: 08274031
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 August 2024.




F Fyfe
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
PARDGROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Pardgroup UK Ltd is a private company, limited by shares, registered in England and Wales, registered number 08274031. The registered office is Unit 4, Tavis House Haddenham Business Park, Pegasus Way, Haddenham, Bucks, HP17 8ZD. 
The company's principal activity continues to be that of luxury retail services agency, specialising in managing and delivering the entire suite of in-store promotional activities and exhibitions.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).

This information is included in the consolidated financial statements of Monkey Sell Srl as at 31/12/2023 and these financial statements may be obtained from Via Castagnolino, 34/A Bentivoglio, Emilia Romagna, 40010, Italy.

Page 3

 
PARDGROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
PARDGROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
PARDGROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

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

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 in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
10%
straight line
Plant and machinery
-
20%
straight line
Motor vehicles
-
25%
straight line
Office equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 6

 
PARDGROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless
Page 7

 
PARDGROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.17
Financial instruments (continued)

the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 8

 
PARDGROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2022 - 13).


4.


Tangible fixed assets





Leasehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
10,771
77,992
80,245
19,989
188,997


Additions
4,591
13,930
-
3,602
22,123


Disposals
-
-
-
(1,666)
(1,666)



At 31 December 2023

15,362
91,922
80,245
21,925
209,454



Depreciation


At 1 January 2023
808
9,421
58,062
9,583
77,874


Charge for the year on owned assets
1,612
10,733
10,438
5,327
28,110


Charge for the year on financed assets
-
5,936
-
-
5,936


Disposals
-
-
-
(1,397)
(1,397)



At 31 December 2023

2,420
26,090
68,500
13,513
110,523



Net book value



At 31 December 2023
12,942
65,832
11,745
8,412
98,931



At 31 December 2022
9,963
68,571
22,183
10,406
111,123

Page 9

 
PARDGROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors


2023
2022
£
£

Due after more than one year

Other debtors
22,113
33,315

22,113
33,315

Due within one year

Trade debtors
423,807
389,977

Accrued income
11,775
17,630

Prepayments and deposits
154,530
98,991

612,225
539,913



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
381,910
640,553

381,910
640,553



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
71,835
28,224

Other creditors
13,210
10,903

Other taxation and social security
61,320
152,098

Corporation tax
21,795
64,723

Accruals and deferred income
160,331
57,652

Bank loans
50,000
50,000

Obligations under finance lease and hire purchase contracts
14,308
10,692

392,799
374,292


Page 10

 
PARDGROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
112,500
162,500

Net obligations under finance leases and hire purchase contracts
-
14,308

112,500
176,808



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
50,000
50,000


50,000
50,000


Amounts falling due 2-5 years

Bank loans
112,500
162,500


112,500
162,500


162,500
212,500


Page 11

 
PARDGROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Deferred taxation




2023


£






At beginning of year
(25,088)


Charged to profit or loss
3,948



At end of year
(21,140)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(21,140)
(25,088)

(21,140)
(25,088)


11.


Related party transactions

During the year the company made sales of £26,959 (2022: £NIL) to Pardgroup Ireland Ltd and £166,075 (2022: £NIL) to Pardgroup USA, both of which are subsidiary companies within the group.
During the year the company incurred costs of £47,047 (2022: £NIL) from Pardgroup SPA, a subsidary company within the group.
Included in trade debtors is £9,640 (2022: £NIL) owed by Pardgroup Ireland Ltd.
The above transactions took place in the normal course of business and on an arms length basis.


12.


Controlling party

The ultimate parent company is Monkey Sell Srl, the company registered address is Via Castagnolino, 34/A Bentivoglio, Emilia Romagna, 40010, Italy.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 8 August 2024 by Richard V Griggs (Senior statutory auditor) on behalf of Lancasters (Accountants) Limited.

Page 12