Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activityfalse2023-01-01true1414falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06000482 2023-01-01 2023-12-31 06000482 2022-01-01 2022-12-31 06000482 2023-12-31 06000482 2022-12-31 06000482 1 2023-01-01 2023-12-31 06000482 1 2022-01-01 2022-12-31 06000482 d:Director1 2023-01-01 2023-12-31 06000482 d:Director2 2023-01-01 2023-12-31 06000482 d:Director2 2023-12-31 06000482 d:RegisteredOffice 2023-01-01 2023-12-31 06000482 e:PlantMachinery 2023-01-01 2023-12-31 06000482 e:PlantMachinery 2023-12-31 06000482 e:PlantMachinery 2022-12-31 06000482 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06000482 e:CurrentFinancialInstruments 2023-12-31 06000482 e:CurrentFinancialInstruments 2022-12-31 06000482 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 06000482 e:CurrentFinancialInstruments e:WithinOneYear 2022-12-31 06000482 e:UKTax 2023-01-01 2023-12-31 06000482 e:UKTax 2022-01-01 2022-12-31 06000482 e:ShareCapital 2023-12-31 06000482 e:ShareCapital 2022-12-31 06000482 e:RetainedEarningsAccumulatedLosses 2023-12-31 06000482 e:RetainedEarningsAccumulatedLosses 2022-12-31 06000482 e:AcceleratedTaxDepreciationDeferredTax 2023-12-31 06000482 e:AcceleratedTaxDepreciationDeferredTax 2022-12-31 06000482 e:TaxLossesCarry-forwardsDeferredTax 2023-12-31 06000482 e:TaxLossesCarry-forwardsDeferredTax 2022-12-31 06000482 d:OrdinaryShareClass1 2023-01-01 2023-12-31 06000482 d:OrdinaryShareClass1 2023-12-31 06000482 d:OrdinaryShareClass1 2022-12-31 06000482 d:FRS102 2023-01-01 2023-12-31 06000482 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06000482 d:FullAccounts 2023-01-01 2023-12-31 06000482 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06000482 2 2023-01-01 2023-12-31 06000482 6 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 06000482









PMA PRODUCTION SERVICES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
PMA PRODUCTION SERVICES LIMITED
 
 
COMPANY INFORMATION


Directors
P C Ayers 
C I Baker (appointed 27 March 2023)




Registered number
06000482



Registered office
22-24 Ely Place

London

EC1N 6TE




Accountants
Ecovis Wingrave Yeats UK Limited
Chartered Accountants

3rd Floor, Waverley House

7-12 Noel Street

London

W1F 8GQ





 
PMA PRODUCTION SERVICES LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 12


 
PMA PRODUCTION SERVICES LIMITED
REGISTERED NUMBER: 06000482

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 6 
92,877
101,007

Investments
 7 
89
89

  
92,966
101,096

Current assets
  

Debtors: amounts falling due within one year
 8 
813,423
1,147,592

Cash at bank and in hand
  
613,148
1,268,633

  
1,426,571
2,416,225

Creditors: amounts falling due within one year
 9 
(360,446)
(361,026)

Net current assets
  
 
 
1,066,125
 
 
2,055,199

Total assets less current liabilities
  
1,159,091
2,156,295

Provisions for liabilities
  

Deferred tax
 10 
(22,474)
(22,305)

  
 
 
(22,474)
 
 
(22,305)

Net assets
  
1,136,617
2,133,990


Capital and reserves
  

Called up share capital 
 11 
20
20

Profit and loss account
  
1,136,597
2,133,970

  
1,136,617
2,133,990


Page 1

 
PMA PRODUCTION SERVICES LIMITED
REGISTERED NUMBER: 06000482
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 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 comprehensive income 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 25 September 2024.




P C Ayers
Director

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

Page 2

 
PMA PRODUCTION SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

PMA Production Services Limited is a private company, limited by shares, incorporated in England and Wales, registration number 06000482. The registered office is 22-24 Ely Place, London, England, EC1N 6TE.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

The directors are committed to ensuring that the Company can meet its liabilities as and when they fall due for a period of at least 12 months from the date of approval of these financial statements. As a result, the directors consider it appropriate that these financial statements are prepared on the going concern basis.

 
2.4

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 Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
PMA PRODUCTION SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

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.

 
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

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
PMA PRODUCTION SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

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 balance sheet 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 balance sheet 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 balance sheet date.

 
2.10

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%

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 5

 
PMA PRODUCTION SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
 
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.16

Financial instruments

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 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.
Page 6

 
PMA PRODUCTION SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.16
Financial instruments (continued)


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.

 
2.17

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2022 - 14).

Page 7

 
PMA PRODUCTION SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
102,980
184,492

Adjustments in respect of previous periods
(1,223)
-


101,757
184,492


Total current tax
101,757
184,492

Deferred tax


Origination and reversal of timing differences
(2,754)
1,455

Adjustments in respect of prior periods
2,923
-

Changes to tax rates
-
459

Total deferred tax
169
1,914


Tax on profit
101,926
186,406
Page 8

 
PMA PRODUCTION SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
4.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is higher than (2022 - lower than) the standard rate of corporation tax in the UK of 23.52% (2022 - 19%). The differences are explained below:

2023
2022
£
£


Profit on ordinary activities before tax
394,746
981,486


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 23.52% (2022 - 19%)
92,846
186,482

Effects of:


Fixed asset differences
(266)
(2,357)

Expenses not deductible for tax purposes
7,809
1,821

Capital allowances for year in excess of depreciation
-
460

Adjustments to tax charge in respect of previous periods
(1,223)
-

Adjustments to tax charge in respect of previous periods - deferred tax
2,923
-

Remeasurement of deferred tax for changes in tax rates
(163)
-

Total tax charge for the year
101,926
186,406


5.


Dividends

2023
2022
£
£


Dividends paid
1,290,193
456,000

1,290,193
456,000

Page 9

 
PMA PRODUCTION SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 January 2023
361,821


Additions
28,215


Disposals
(15,948)



At 31 December 2023

374,088



Depreciation


At 1 January 2023
260,814


Charge for the year on owned assets
30,959


Disposals
(10,562)



At 31 December 2023

281,211



Net book value



At 31 December 2023
92,877



At 31 December 2022
101,007


7.


Fixed asset investments





Investments in associate companies

£



Cost or valuation


At 1 January 2023
89



At 31 December 2023
89




The investments in associate companies represents 100 €1 shares in SAS PMA Film & Television France. The shares were purchased at par.

Page 10

 
PMA PRODUCTION SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Debtors

2023
2022
£
£


Trade debtors
575,536
646,105

Amounts owed by associated companies
2,507
11,550

Other debtors
18,342
19,884

Prepayments and accrued income
217,038
470,053

813,423
1,147,592


Amounts owed by associate companies are unsecured, interest free, have no fixed date of repayment and are repayable on demand.


9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
154,356
64,162

Corporation tax
102,980
184,659

Other taxation and social security
60,278
98,879

Other creditors
2,982
1,664

Accruals and deferred income
39,850
11,662

360,446
361,026


Page 11

 
PMA PRODUCTION SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Deferred taxation




2023


£






At beginning of year
(22,305)


Charged to profit or loss
(169)



At end of year
(22,474)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(23,219)
(25,252)

Short term timing differences
745
2,947

(22,474)
(22,305)


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



20,000 (2022 - 20,000) A Ordinary Shares shares of £0.001 each
20
20



12.


Pension commitments

The Company operates a defined pension contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £106,894 (2022 - £21,272). There were  contributions payable to the fund at the balance sheet date of £2,982 (2022 - £Nil).


13.


Related party transactions

PMA Production Services Limited has taken the exemption under FRS 102, section 33 Related Party Disclosures paragraph 33.1A, whereby the Company is not required to disclosure transactions with other wholly owned subsidiaries.
Included within other debtors, an amount of £2,713 
(2022 - £1,257) remains owing from directors of the Company. This amount is unsecured, interest-free and repayable on demand.

 
Page 12