75 false false false false false false false false false false true false false false false false true No description of principal activity 2023-12-29 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 10199129 2023-12-29 2024-12-28 10199129 2024-12-28 10199129 2023-12-28 10199129 2023-09-30 2023-12-28 10199129 2023-12-28 10199129 2023-09-29 10199129 bus:Director3 2023-12-29 2024-12-28 10199129 core:FurnitureFittings 2023-12-28 10199129 core:FurnitureFittings 2024-12-28 10199129 core:FurnitureFittings 2023-12-29 2024-12-28 10199129 core:WithinOneYear 2024-12-28 10199129 core:WithinOneYear 2023-12-28 10199129 core:ShareCapital 2024-12-28 10199129 core:ShareCapital 2023-12-28 10199129 core:SharePremium 2024-12-28 10199129 core:SharePremium 2023-12-28 10199129 core:RetainedEarningsAccumulatedLosses 2024-12-28 10199129 core:RetainedEarningsAccumulatedLosses 2023-12-28 10199129 core:FurnitureFittings 2023-12-28 10199129 bus:SmallEntities 2023-12-29 2024-12-28 10199129 bus:AuditExemptWithAccountantsReport 2023-12-29 2024-12-28 10199129 bus:SmallCompaniesRegimeForAccounts 2023-12-29 2024-12-28 10199129 bus:PrivateLimitedCompanyLtd 2023-12-29 2024-12-28 10199129 bus:FullAccounts 2023-12-29 2024-12-28 10199129 core:ComputerEquipment 2023-12-28 10199129 core:ComputerEquipment 2024-12-28 10199129 core:ComputerEquipment 2023-12-29 2024-12-28
COMPANY REGISTRATION NUMBER: 10199129
PARTY HQ LTD.
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
28 December 2024
PARTY HQ LTD.
STATEMENT OF FINANCIAL POSITION
28 December 2024
2024
2023
Note
£
£
£
FIXED ASSETS
Tangible assets
5
211,086
327,596
CURRENT ASSETS
Stocks
689,021
1,194,442
Debtors
6
9,386
234,296
Cash at bank and in hand
262,039
503,970
---------
------------
960,446
1,932,708
CREDITORS: amounts falling due within one year
7
( 458,851)
( 1,608,562)
---------
------------
NET CURRENT ASSETS
501,595
324,146
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
712,681
651,742
---------
---------
NET ASSETS
712,681
651,742
---------
---------
CAPITAL AND RESERVES
Called up share capital
2,217,471
2,217,471
Share premium account
1,146,472
1,146,472
Profit and loss account
( 2,651,262)
( 2,712,201)
------------
------------
SHAREHOLDERS FUNDS
712,681
651,742
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 28 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PARTY HQ LTD.
STATEMENT OF FINANCIAL POSITION (continued)
28 December 2024
These financial statements were approved by the board of directors and authorised for issue on 21 May 2025 , and are signed on behalf of the board by:
V Lynch
Director
Company registration number: 10199129
PARTY HQ LTD.
NOTES TO THE FINANCIAL STATEMENTS
PERIOD ENDED 28 DECEMBER 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 - 22 Bridge End, Leeds, LS1 4DJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax.
Income tax
Deferred Taxation is provided using the liability method on all timing differences that have originated but not reversed at the balance sheet date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently state at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
5 years
Equipment
-
3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. 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 before operating profit.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 75 (2023: 75 ).
5. TANGIBLE ASSETS
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 29 December 2023
1,611,868
144,506
1,756,374
Additions
780
780
------------
---------
------------
At 28 December 2024
1,612,648
144,506
1,757,154
------------
---------
------------
Depreciation
At 29 December 2023
1,284,705
144,073
1,428,778
Charge for the period
116,857
433
117,290
------------
---------
------------
At 28 December 2024
1,401,562
144,506
1,546,068
------------
---------
------------
Carrying amount
At 28 December 2024
211,086
211,086
------------
---------
------------
At 28 December 2023
327,163
433
327,596
------------
---------
------------
6. DEBTORS
2024
2023
£
£
Trade debtors
219,775
Other debtors
9,386
14,521
-------
---------
9,386
234,296
-------
---------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
74,508
1,071,229
Social security and other taxes
18,761
18,448
Other creditors
365,582
518,885
---------
------------
458,851
1,608,562
---------
------------