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Registration number: 04417584

Park Corner Creative Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2025

Park Corner Creative Limited

Contents

Balance Sheet | 1
Notes to the Unaudited Financial Statements | 2 to 8

Park Corner Creative Limited

(Registration number: 04417584)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 5 | 43 | 100
Current assets |  |  |
Debtors | 6 | 17,849 | 70,323
Cash at bank and in hand |  | 42,932 | 8,442
|  | 60,781 | 78,765
Creditors: Amounts falling due within one year | 7 | (29,416) | (32,229)
Net current assets |  | 31,365 | 46,536
Total assets less current liabilities |  | 31,408 | 46,636
Creditors: Amounts falling due after more than one year | 7 | (14,999) | (18,162)
Net assets |  | 16,409 | 28,474
Capital and reserves |  |  |
Called up share capital | 8 | 1,020 | 1,020
Retained earnings |  | 15,389 | 27,454
Shareholders' funds |  | 16,409 | 28,474

For the financial year ending 31 March 2025 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 November 2025 and signed on its behalf by:

......................................... Mr D M Livingston Director | ......................................... Mrs E G Livingston Company secretary and director |

Park Corner Creative Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1 | General information

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

The address of its registered office is:
2 Westman Road
Winchester
Hampshire
SO22 6DT

These financial statements were authorised for issue by the Board on 6 November 2025.

2 | Accounting policies

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover comprises the fair value of the consideration receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.

Tax

The tax expense for the period comprises current 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.

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.

Park Corner Creative Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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, fittings and equipment | 25% Reducing balance
Office equipment | 33% Straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Goodwill | 5 years straight line

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.

Trade debtors

Trade debtors are amounts due from customers for 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

Borrowings

Park Corner Creative Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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.

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.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 2).

Park Corner Creative Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 April 2024 | 23,400 | 23,400
At 31 March 2025 | 23,400 | 23,400
Amortisation
At 1 April 2024 | 23,400 | 23,400
At 31 March 2025 | 23,400 | 23,400
Carrying amount
At 31 March 2025 | - | -

5 | Tangible assets

| Fixtures and fittings £ | Office equipment £ | Total £
Cost or valuation
At 1 April 2024 | 5,328 | 9,046 | 14,374
At 31 March 2025 | 5,328 | 9,046 | 14,374
Depreciation
At 1 April 2024 | 5,319 | 8,955 | 14,274
Charge for the year | 2 | 55 | 57
At 31 March 2025 | 5,321 | 9,010 | 14,331
Carrying amount
At 31 March 2025 | 7 | 36 | 43
At 31 March 2024 | 9 | 91 | 100

Park Corner Creative Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 10,850 | 7,993
Prepayments | 284 | 260
Other debtors | 6,715 | 62,070
| 17,849 | 70,323

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 9 | 3,278 | 3,278
Trade creditors |  | 499 | 569
Taxation and social security |  | 24,373 | 27,299
Accruals and deferred income |  | 800 | 800
Other creditors |  | 466 | 283
|  | 29,416 | 32,229

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 9 | 14,999 | 18,162

Park Corner Creative Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary A shares of £1 each | 1,000 | 1,000 | 1,000 | 1,000
Ordinary B shares of £1 each | 10 | 10 | 10 | 10
Ordinary C shares of £1 each | 10 | 10 | 10 | 10
| 1,020 | 1,020 | 1,020 | 1,020

9 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 14,999 | 18,162

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 3,278 | 3,278

Park Corner Creative Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

10 | Related party transactions

Transactions with directors

2025 | At 1 April 2024 £ | Repayments by director £ | At 31 March 2025 £
Mr D M Livingston
Interest charged at the official office rate and repayable on demand | 27,677 | (27,677) | -
Mrs E G Livingston
Interest charged at the official office rate and repayable on demand | 27,677 | (27,677) | -

2024 | At 1 April 2023 £ | Advances to director £ | Repayments by director £ | At 31 March 2024 £
Mr D M Livingston
Interest charged at the official office rate and repayable on demand | 18,447 | 13,247 | (4,017) | 27,677
Mrs E G Livingston
Interest charged at the official office rate and repayable on demand | 18,448 | 13,247 | (4,018) | 27,677