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Registration number: 08079387

Production North (Holdings) Ltd

Annual Report and Unaudited Financial Statements

For The Year Ended 31 August 2024

 

Production North (Holdings) Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Production North (Holdings) Ltd

(Registration number: 08079387)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Investment property

4

 

1,375,000

 

1,200,000

Investments

5

 

1,000

 

1,000

   

1,376,000

 

1,201,000

Current assets

   

 

Debtors

6

842

 

333,017

 

Cash at bank and in hand

 

122,590

 

644,076

 

 

123,432

 

977,093

 

Creditors: Amounts falling due within one year

7

(500)

 

(475)

 

Net current assets

   

122,932

 

976,618

Net assets

   

1,498,932

 

2,177,618

Capital and reserves

   

 

Called up share capital

501

 

1,002

 

Capital redemption reserve

501

 

-

 

Profit and loss account

1,497,930

 

2,176,616

 

Total equity

   

1,498,932

 

2,177,618

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 March 2025
 

.........................................
Mr I.B. Whitehead
Director

 

Production North (Holdings) Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 11, Fusion Court
Aberford Road
Garforth
Leeds
LS25 2GH

These financial statements were authorised for issue by the director on 12 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is £ sterling.

Group accounts not prepared

The Company, as a parent company of a small group, is not required to prepare group accounts by virtue of the exemption within s399 Companies Act 2006. These financial statements therefore present information about the company as an individual undertaking and not about its group..

Going concern

The financial statements have been prepared on a going concern basis.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Share capital

Ordinary shares are classified as equity.

 

Production North (Holdings) Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 August 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 September

1,200,000

Fair value adjustments

175,000

At 31 August 2023

1,375,000

The investment property was revalued in January 2024 by a firm of independent professional valuers, Knight Frank LLP. In the opinion of the director the fair value of the property at the year end is not materially different to this valuation.

5

Investments

2024
£

2023
£

Investments in subsidiaries

1,000

1,000

Subsidiaries

£

Cost or valuation

At 1 September 2023

1,000

Carrying amount

At 31 August 2024

1,000

At 31 August 2023

1,000

Production North (Holdings) Limited, as the parent company of a small group is not required to prepare group accounts by virtue of the exemption within s399 Companies Act 2006.

 

Production North (Holdings) Ltd

Notes to the Unaudited Financial Statements For The Year Ended 31 August 2024

6

Debtors

Due within one year

2024
£

2023
£

Owed by/(from) group undertakings

842

333,017

 

842

333,017

7

Creditors

Due within one year

2024
£

2023
£

Other creditors

500

475

8

Related party transactions

The Company's investment property is occupied by its subsidiary company. No charge for occupation was made in this or the previous year.