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REGISTERED NUMBER: 05650716 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PARK AGENCIES LIMITED

PARK AGENCIES LIMITED (REGISTERED NUMBER: 05650716)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Balance Sheet 1

Notes to the Financial Statements 2


PARK AGENCIES LIMITED (REGISTERED NUMBER: 05650716)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 12,508 12,401

CURRENT ASSETS
Debtors 5 2,128,483 1,630,726
Cash at bank and in hand 479,023 644,358
2,607,506 2,275,084
CREDITORS
Amounts falling due within one year 6 (1,641,344 ) (1,225,501 )
NET CURRENT ASSETS 966,162 1,049,583
TOTAL ASSETS LESS CURRENT
LIABILITIES

978,670

1,061,984

CREDITORS
Amounts falling due after more than one
year

7

(93,744

)

(140,564

)
NET ASSETS 884,926 921,420

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 884,925 921,419
SHAREHOLDERS' FUNDS 884,926 921,420

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 September 2024 and were signed by:





A C Park - Director


PARK AGENCIES LIMITED (REGISTERED NUMBER: 05650716)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Park Agencies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05650716

Registered office: Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 represents income from the provision of sales of fashion design and the sale of goods, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% on reducing balance

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

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

PARK AGENCIES LIMITED (REGISTERED NUMBER: 05650716)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Going concern
The directors have determined there is no material uncertainty in the company's ability to continue for the foreseeable future and therefore continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 21 ) .

4. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 January 2023 24,175
Additions 3,512
At 31 December 2023 27,687
DEPRECIATION
At 1 January 2023 11,774
Charge for year 3,405
At 31 December 2023 15,179
NET BOOK VALUE
At 31 December 2023 12,508
At 31 December 2022 12,401

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,775,777 1,189,321
Other debtors 61,560 48,570
Tax 123,117 335,940
VAT 2,023 -
Prepayments and accrued income 166,006 56,895
2,128,483 1,630,726

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 114,657 45,665
Trade creditors 1,318,527 956,165
Tax 23,055 4,999
Social security and other taxes 33,865 33,797
VAT - 2,484
Other creditors 11,149 31,136
Directors' loan accounts 513 300
Accruals and deferred income 139,578 150,955
1,641,344 1,225,501

Within bank loans and overdrafts are £46,820 relating to loans due within one year, and £67,837 relating to overdrawn bank balances.

PARK AGENCIES LIMITED (REGISTERED NUMBER: 05650716)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 48,004 46,820
Bank loans - 2-5 years 45,740 93,744
93,744 140,564

The bank loan is repayable by July 2026 and interest is charged at 2.5% per annum.