Pardgroup UK Ltd

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—6

1. General Information

Pardgroup UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08274031 . The registered office is Unit 4 Tavis House Pegasus Way, Haddenham Business Park, Haddenham, Buckinghamshire, HP17 8ZD.

The company's principal activity continues to be that of luxury retail services agency, specialising in managing and delivering the entire suite of in-store promotional activities and exhibitions.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	10% Straight Line
Plant & Machinery	20% Straight Line
Motor Vehicles	25% Straight Line
Office Equipment	33% Straight Line

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Pardgroup UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 16 (2023: 16)

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Office Equipment	Total
	£	£	£	£	£
Cost
As at 1 January 2024	15,362	91,922	80,245	21,925	209,454
Additions	-	17,923	72,500	6,333	96,756
Disposals	-	-	(50,750 )	(1,215 )	(51,965 )

As at 31 December 2024	15,362	109,845	101,995	27,043	254,245

Depreciation
As at 1 January 2024	2,420	26,090	68,500	13,513	110,523
Provided during the period	1,536	20,644	13,344	5,937	41,461
Disposals	-	-	(39,005 )	(930 )	(39,935 )

As at 31 December 2024	3,956	46,734	42,839	18,520	112,049

Net Book Value
As at 31 December 2024	11,406	63,111	59,156	8,523	142,196

As at 1 January 2024	12,942	65,832	11,745	8,412	98,931

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Pardgroup UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Stocks

	2024	2023
	£	£
Stock	10,568	5,131

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	411,539	423,807
Other debtors	318,522	166,305

	730,061	590,112
Due after more than one year
Other debtors	37,942	22,113

	768,003	612,225

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	16,789	14,308
Trade creditors	64,803	71,834
Bank loans and overdrafts	302,463	50,000
Other creditors	122,030	173,541
Taxation and social security	27,355	83,115

	533,440	392,798

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	21,122	-
Bank loans	60,037	112,500

	81,159	112,500

9. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	16,789	14,308
Later than one year and not later than five years	21,122	-

	37,911	14,308

	37,911	14,308

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Pardgroup UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 January 2024	21,140	21,140
Additions	11,558	11,558

Balance at 31 December 2024	32,698	32,698

11. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

12. Other Commitments

At 31st December 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

	2024	2023
	£	£
Not later than one year	169,026	175,901
Later than one year and not later than five years	162,201	312,587

	331,227	488,488

13. Related Party Transactions

During the year the company made sales of £13,637 (2023: £166,075) to Pardgroup USA, £59,371 (2023: £26,959) to Pardgroup Ireland, £4,240 (2023: £Nil) to Pardgroup Suisse and £390 (2023: £Nil) to Pardgroup SPA, all of which are subsidiary companies within the group.

During the year the company incurred costs of £38,818 (2023: £47,047) to Pardgroup Spa, £4,261 (2023: £Nil) to Pardgroup Ireland and £34,479 (2023: £Nil) to Pardgroup Dubai, all of which are subsidiary companies within the group.

Included within trade debtors is £6,167 (2023: £Nil) owed by Pardgroup USA.

Included within trade creditors is £1,746 (2023: £Nil) owed to Pardgroup Ireland.

The above transactions took place in the normal course of business and on an arms length basis.

14. Controlling Party

The company's controlling party is Monkey Sell Srl by virtue of his ownership of 51% of the issued share capital in the company. The company registered address is Via Castagnolino, 34/A Bentivoglio, Emilia Romagna, 40010, Italy.

15. Audit Information

The auditor's report on the accounts of Pardgroup UK Ltd for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by Richard V Griggs FCA (Senior Statutory Auditor) for and on behalf of Lancasters (Accountants) Limited , Statutory Auditor.

Lancasters (Accountants) Limited

Chartered Accountants & Registered Auditor

Manor Courtyard

Aston Sandford

Bucks

HP17 8JB

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		142,196		98,931

			142,196		98,931
CURRENT ASSETS
Stocks	5	10,568		5,131
Debtors	6	768,003		612,225
Cash at bank and in hand		335,359		381,910

		1,113,930		999,266
Creditors: Amounts Falling Due Within One Year	7	(533,440 )		(392,798 )

NET CURRENT ASSETS (LIABILITIES)			580,490		606,468

TOTAL ASSETS LESS CURRENT LIABILITIES			722,686		705,399

Creditors: Amounts Falling Due After More Than One Year	8		(81,159 )		(112,500 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(32,698 )		(21,140 )

NET ASSETS			608,829		571,759

CAPITAL AND RESERVES
Called up share capital	11		100		100
Income Statement			608,729		571,659

SHAREHOLDERS' FUNDS			608,829		571,759