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Registration number: 02546489

Paul Hardcastle Productions Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2024

 

Paul Hardcastle Productions Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Paul Hardcastle Productions Limited

(Registration number: 02546489)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

60,911

73,284

Investments

5

34,620

-

 

95,531

73,284

Current assets

 

Debtors

6

371,863

57,834

Cash at bank and in hand

 

2,022,975

1,955,284

 

2,394,838

2,013,118

Creditors: Amounts falling due within one year

7

(191,411)

(185,502)

Net current assets

 

2,203,427

1,827,616

Total assets less current liabilities

 

2,298,958

1,900,900

Creditors: Amounts falling due after more than one year

7

(7,567)

-

Provisions for liabilities

(14,816)

(17,820)

Net assets

 

2,276,575

1,883,080

Capital and reserves

 

Called up share capital

8

200

200

Retained earnings

2,276,375

1,882,880

Shareholders' funds

 

2,276,575

1,883,080

For the financial year ending 31 October 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 July 2025
 

 

Paul Hardcastle Productions Limited

(Registration number: 02546489)
Balance Sheet as at 31 October 2024

P L Hardcastle
Director

   
     
 

Paul Hardcastle Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
Winchester House
Deane Gate Avenue
Taunton
Somerset
TA1 2UH
UK

The principal place of business is:
Tudor Rose
Oak Hill Road
Stapleford Abbotts
Romford
Essex
RM4 1JJ

These financial statements were authorised for issue by the director on 21 July 2025.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 director has reviewed the supply chains, key customers and the capital resources available and considers that the company has adequate resources in place to continue trading for the next twelve months.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

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.

 

Paul Hardcastle Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance

Long leasehold land and buildings

10% straight line

 

Paul Hardcastle Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Investments

Investments in fixed assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

Paul Hardcastle Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2023 - 1).

4

Tangible assets

Long leasehold land and buildings
£

Fixtures and Fittings
£

Total
£

Cost or valuation

At 1 November 2023

46,269

155,647

201,916

Additions

-

8,087

8,087

At 31 October 2024

46,269

163,734

210,003

Depreciation

At 1 November 2023

28,229

100,403

128,632

Charge for the year

4,627

15,833

20,460

At 31 October 2024

32,856

116,236

149,092

Carrying amount

At 31 October 2024

13,413

47,498

60,911

At 31 October 2023

18,040

55,244

73,284

5

Investments

2024
£

2023
£

Fixed asset investments

34,620

-

6

Debtors

2024
£

2023
£

Other debtors

339,800

16,671

Accrued income

32,063

41,163

371,863

57,834

 

Paul Hardcastle Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

7

Creditors

Due within one year

2024
£

2023
£

Loans and borrowings

10,000

-

Social security and other taxes

-

7,410

Accruals

13,787

14,896

Corporation tax

167,624

163,196

191,411

185,502

Due after one year

Loans and borrowings

7,567

-

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

120

120

120

120

Ordinary B shares of £1 each

18

18

18

18

Ordinary C shares of £1 each

26

26

26

26

Ordinary D shares of £1 each

18

18

18

18

Ordinary E shares of £1 each

18

18

18

18

200

200

200

200

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

7,567

-

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

-

 

Paul Hardcastle Productions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

10

Related party transactions


Loans to the director are charged interest at the standard HMRC rate where applicable and are repayable on demand.

Transactions with the director

2024

At 1 November 2023
£

Advances to director
£

Repayments by director
£

At 31 October 2024
£

P L Hardcastle

Director's loan

14,816

496,382

(177,007)

334,191

14,816

496,382

(177,007)

334,191

2023

At 1 November 2022
£

Advances to director
£

Repayments by director
£

At 31 October 2023
£

P L Hardcastle

Director's loan

39,696

693,890

(718,770)

14,816

39,696

693,890

(718,770)

14,816

11

Post balance sheet events


On 14 November 2024 the shares of the company were acquired by Somnium Music Group Limited, which is connected to the company via family relations.