REGISTERED NUMBER: SC742579 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Park Leading Design Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Accountants' Report

8

DIRECTORS:

Mr J A Hall

Mr A P Sharpe

REGISTERED OFFICE:

55-57 West High Street

INVERURIE

AB51 3QQ

REGISTERED NUMBER:

SC742579 (Scotland)

ACCOUNTANTS:

Atholl Scott

55-57 West High Street

INVERURIE

AB51 3QQ

FIXED ASSETS

Intangible assets

4

499,315

561,729

Tangible assets

5

6,536

2,683

505,851

564,412

CURRENT ASSETS

Debtors

6

315,750

307,772

Cash at bank

33,281

22,619

349,031

330,391

CREDITORS

Amounts falling due within one year

7

(374,830

)

(369,370

)

NET CURRENT LIABILITIES

(25,799

)

(38,979

)

TOTAL ASSETS LESS CURRENT LIABILITIES

480,052

525,433

CREDITORS

Amounts falling due after more than one year

8

(423,163

)

(499,500

)

PROVISIONS FOR LIABILITIES

(1,627

)

(671

)

NET ASSETS

55,262

25,262

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

55,162

25,162

55,262

25,262

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

Mr J A Hall - Director

Mr A P Sharpe - Director

1.	STATUTORY INFORMATION

Park Leading Design Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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. When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised.

Goodwill

Goodwill and intellectual property, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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 future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

615,033

9,110

624,143

AMORTISATION

At 1 January 2024

61,503

911

62,414

Charge for year

61,503

911

62,414

At 31 December 2024

123,006

1,822

124,828

NET BOOK VALUE

At 31 December 2024

492,027

7,288

499,315

At 31 December 2023

553,530

8,199

561,729

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

4,005

Additions

5,464

At 31 December 2024

9,469

DEPRECIATION

At 1 January 2024

1,322

Charge for year

1,611

At 31 December 2024

2,933

NET BOOK VALUE

At 31 December 2024

6,536

At 31 December 2023

2,683

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

292,306

302,521

Other debtors

23,444

5,251

315,750

307,772

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

71,684

45,776

Amounts owed to group undertakings

27,900

-

Taxation and social security

10,047

31,998

Other creditors

265,199

291,596

374,830

369,370

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other creditors

423,163

499,500

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

192,268

264,699

9.	OTHER FINANCIAL COMMITMENTS

At the year end the company had obligations under non-cancellable operating leases totalling £930 (2023: £889).

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 December 2024 and the period ended 31 December 2023:

31.12.24

31.12.23

£

£

Mr A P Sharpe

Balance outstanding at start of year

-

-

Amounts advanced

4

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

4

-

The loan has no set repayment terms and no interest is chargeable.

11.	RELATED PARTY DISCLOSURES

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Park Leading Design Ltd for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Park Leading Design Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Park Leading Design Ltd and state those matters that we have agreed to state to the Board of Directors of Park Leading Design Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Park Leading Design Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Park Leading Design Ltd. You consider that Park Leading Design Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Park Leading Design Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

As a member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/publicinterest/memberregulations.

Atholl Scott

55-57 West High Street

INVERURIE

AB51 3QQ

26 September 2025