Park Productions Limited
Unaudited Financial Statements
For the year ended 30 September 2024
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 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,323
Current assets
Debtors
4
350
2,449
Cash at bank and in hand
81,058
19,389
81,408
21,838
Creditors: amounts falling due within one year
5
(33,739)
(22,114)
Net current assets/(liabilities)
47,669
(276)
Total assets less current liabilities
47,669
1,047
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
47,569
947
Total equity
47,669
1,047
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 2024 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 26 February 2025 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 2024
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 2024
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 (2023 - 2).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023 and 30 September 2024
15,873
Depreciation and impairment
At 1 October 2023
14,550
Depreciation charged in the year
1,323
At 30 September 2024
15,873
Carrying amount
At 30 September 2024
At 30 September 2023
1,323
Park Productions Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2024
Page 4
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
350
2,449
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
30,238
15,989
Other taxation and social security
1,242
Other creditors
259
4,125
Accruals and deferred income
2,000
2,000
33,739
22,114
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
2024
2023
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 creditors is an amount of £259 (2023: £4,125) owed to the directors.