Registration number: 03057958

Park Village Limited

Contents

Company Information	1
Statement of Financial Position	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

Park Village Limited

Company Information

Directors

J Webb T Webb

Registered office

130 Shaftesbury Avenue 2nd Floor London W1D 5EU

Accountants

Brebners Chartered Accountants 130 Shaftesbury Avenue London W1D 5AR

Park Village Limited

Statement of Financial Position as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	268,273	325,726
Current assets
Debtors	5	474,125	777,227
Cash at bank and in hand		111,044	333,743
		585,169	1,110,970
Creditors: Amounts falling due within one year	6	(677,275)	(1,158,905)
Net current liabilities		(92,106)	(47,935)
Total assets less current liabilities		176,167	277,791
Creditors: Amounts falling due after more than one year	6	(38,927)	(63,547)
Provisions for liabilities		(14,833)	-
Net assets		122,407	214,244
Capital and reserves
Called up share capital		100	100
Retained earnings		122,307	214,144
Shareholders' funds		122,407	214,244

For the financial year ending 31 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of Park Village Limited have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Park Village Limited

Statement of Financial Position as at 31 December 2024

Approved and authorised by the Board on 29 September 2025 and signed on its behalf by:
 

.........................................

T Webb

Director

Company registration number: 03057958

Park Village Limited

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

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the production of television programmes, advertising and other creative content.

2	Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a profit for the year ended 31 December 2024 and had net assets of £122,407 at that date, including cash at bank of £111,044.

The directors have considered the potential impact of the current economic climate and conditions within the industry and believe that the impact will be manageable. The company has continued to trade profitably and has sufficient reserves to meet its working capital requirements.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Exemption from preparing group accounts

The company is part of a group that qualifies as a small group and is not required to prepare consolidated accounts for the year ended 31 December 2024, as the group meets the conditions for the small group exemption provided by Section 400 of the Companies Act 2006 and Section 1A of FRS 102.

Park Village Limited

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

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 deferred tax. Tax is recognised in profit or loss, except that a charge 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 statement of financial position 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
Furniture, fittings and equipment	20% reducing balance
Property improvements	20% reducing balance

Park Village Limited

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

Impairment

At each reporting date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that those assets may be impaired. If any such indication exists, the recoverable amount of the asset is estimated to determine the extent of any impairment loss.

Where it is not possible to estimate the recoverable amount of an individual asset, the company determines the recoverable amount of the cash-generating unit to which the asset belongs.

The recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset, to the extent those risks have not already been reflected in the cash flow estimates.

If the recoverable amount of an asset (or cash-generating unit) is less than its carrying amount, the carrying amount is reduced to the recoverable amount. The resulting impairment loss is recognised immediately in profit or loss, unless the asset is carried at a revalued amount, in which case the impairment is treated as a revaluation decrease.

Impairment losses previously recognised are reversed if, and only if, the reasons for the impairment have ceased to apply. The reversal is recognised in profit or loss, unless the asset is carried at a revalued amount, in which case the reversal is treated as a revaluation increase. A reversal of an impairment loss increases the carrying amount of the asset to no more than the amount that would have been determined had no impairment loss been recognised in prior years.

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.

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 income statement 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.

Finance leases and hire purchase

Assets held under hire purchase contracts are capitalised at the lesser of fair value or present value of minimum lease payments in the statement of financial position. The present value of the minimum lease payments is calculated using the interest rate implicit in the lease. A corresponding liability is recognised at the same value in the statement of financial position. The asset is then depreciated over its useful life.

The minimum lease payments are apportioned between the finance charge recognised in the income statement and the reduction of the outstanding liability using the effective interest method. The finance charge in each period is allocated so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Park Village Limited

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

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company during the year, was 9 (2023 - 11).

Park Village Limited

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

4	Tangible assets

	Property improvements £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	359,679	539,259	898,938
Additions	2,336	13,237	15,573
At 31 December 2024	362,015	552,496	914,511
Depreciation
At 1 January 2024	177,926	395,286	573,212
Charge for the year	38,789	34,237	73,026
At 31 December 2024	216,715	429,523	646,238
Carrying amount
At 31 December 2024	145,300	122,973	268,273
At 31 December 2023	181,753	143,973	325,726

5

Debtors

	2024 £	2023 £
Trade debtors	160,386	244,077
Amounts owed by group undertakings	146,371	-
Other debtors	167,368	533,150
	474,125	777,227

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Loans and borrowings	7	24,620	68,750
Trade creditors		227,504	513,170
Amounts owed to group undertakings		128,095	159,729
Taxation and social security		123,899	247,135
Accruals and deferred income		116,471	110,146
Other creditors		56,686	59,975
		677,275	1,158,905

Park Village Limited

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