PARK DISPLAY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
Company Registration Number: 05536373
PARK DISPLAY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 10
PARK DISPLAY LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024
DIRECTORS
Mr D Robinson
Mr D Stubbs
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
Park House E25
Telford Road
Bicester
Oxfordshire
OX26 4LD
COMPANY REGISTRATION NUMBER
05536373 England and Wales
PARK DISPLAY LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
Notes 2024 2023
£ £
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 54,591 88,733
CURRENT ASSETS
Stock 22,334 29,239
Debtors 7 1,852,095 1,962,150
Cash at bank and in hand 766,156 591,417
2,640,585 2,582,806
CREDITORS: Amounts falling due within one year 8 291,185 409,892
NET CURRENT ASSETS 2,349,400 2,172,914
TOTAL ASSETS LESS CURRENT LIABILITIES 2,403,991 2,261,647
Provisions for liabilities and charges 13,647 21,803
NET ASSETS 2,390,344 2,239,844
CAPITAL AND RESERVES
Called up share capital 100 100
Distributable profit and loss account 2,390,241 2,239,741
Capital redemption reserve 3 3
SHAREHOLDERS' FUNDS 2,390,344 2,239,844
PARK DISPLAY LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
Mr D Stubbs
Director
Date approved by the board: 18 August 2025
PARK DISPLAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1 GENERAL INFORMATION
Park Display Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Park House E25
Telford Road
Bicester
Oxfordshire
OX26 4LD
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable and represents the design and sale of exhibition stands, stated net of trade discounts and value added tax.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Intangible fixed assets
Intangible fixed assets, other than goodwill, are stated at cost less accumulated amortisation and any accumulated impairment losses. Intangible assets are now fully amortised.
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. At acquisition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses.
Goodwill amortisation is charged on a straight line basis so as to write off the cost of the asset, less its residual value assumed to be zero, over its useful economic life. The intangible fixed asset has been fully amortised.
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new expectations.
PARK DISPLAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
Plant and machinery Straight line basis at 10% and 20% per annum
Motor vehicles Reducing balance basis at 25% per annum
Fixtures and fittings Straight line basis at 33% per annum
Leasehold improvements Straight line basis at 10% per annum
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
Financial Instruments
A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss
Basic financial assets and financial liabilities are initially recognised at transaction price and measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. They are subsequently carried at their amortised cost using the effective interest rate method, less any provision for impairment. If the effect of the time value of money is immaterial, they are measured at cost less impairment.
Basic financial assets and liabilities which are measured at cost or amortised cost are reviewed for objective impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the profit and loss account immediately.
Any reversals of impairment are recognised in the profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset or liability which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.
Financing transactions are measured at the present value of the future receipts discounted at a market rate of interest. They are subsequently measured at amortised costs using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
PARK DISPLAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
Stocks are assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less cost to complete and sell. If an item of stock, or group of similar items, is impaired its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
Stock
Stock has been valued at the lower of cost and estimated selling price less cost to complete and sell, after making due allowance for obsolete and slow-moving items. Cost comprises the cost of goods purchased valued on a standard cost basis.
The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
PARK DISPLAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Leases
Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.
Payments applicable to operating leases are charged against profit on a straight line basis over the lease term.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other taxable profits.
Deferred tax is measured using 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.
Current and deferred tax assets and liabilities are not discounted.
Foreign currencies
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.
Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the rate of exchange prevailing at that date. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit or loss.
Pensions
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.
PARK DISPLAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2024 2023
Average number of employees 16 17
5 INTANGIBLE FIXED ASSETS
Goodwill Corporate identity Total
£ £ £
Cost
At 1 January 2024 454,818 7,417 462,235
At 31 December 2024 454,818 7,417 462,235
Accumulated amounts written off
At 1 January 2024 454,818 7,417 462,235
At 31 December 2024 454,818 7,417 462,235
Net book value
At 1 January 2024 - - -
At 31 December 2024 - - -
PARK DISPLAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
6 TANGIBLE ASSETS
Plant and machinery Motor vehicles Fixtures and fittings Leasehold improvements Total
£ £ £ £ £
Cost
At 1 January 2024 48,945 182,660 83,336 5,519 320,460
Additions 10,030 - 1,025 - 11,055
Disposals (25,114) (29,658) (43,917) (5,519) (104,208)
At 31 December 2024 33,861 153,002 40,444 - 227,307
Accumulated depreciation and impairments
At 1 January 2024 32,118 136,562 59,049 3,998 231,727
Charge for year 4,612 7,441 13,127 - 25,180
Disposals (23,052) (13,323) (43,818) (3,998) (84,191)
At 31 December 2024 13,678 130,680 28,358 - 172,716
Net book value
At 1 January 2024 16,827 46,098 24,287 1,521 88,733
At 31 December 2024 20,183 22,322 12,086 - 54,591
7 DEBTORS
2024 2023
£ £
Trade debtors 80,046 196,707
Prepayments and accrued income 19,219 18,888
Other debtors 1,752,830 1,746,555
1,852,095 1,962,150
8 CREDITORS: Amounts falling due within one year
2024 2023
£ £
Trade creditors 33,778 67,486
Taxation and social security 165,225 149,712
Accruals and deferred income 44,536 141,322
Other creditors 47,646 51,372
291,185 409,892
PARK DISPLAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
9 CONTINGENCIES AND COMMITMENTS
Other Commitments
Amounts falling due under operating leases: 2024 2023
£ £
In less than one year 105,000 105,000
In more than one but less than five years 105,000 210,000
210,000 315,000
10 RELATED PARTY TRANSACTIONS
The company has claimed exemptions from reporting disclosure of related party transactions with the following wholly owned group members:
Park Display Holdings Ltd Parent company
11 ULTIMATE PARENT COMPANY
The ultimate parent company is Park Display Trustees Limited whose registered office is C9 Glyme Court, Oxford Office Village, Langford Lane, Kidlington, OX5 1LQ.
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