REGISTERED NUMBER: 05650716 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PARK AGENCIES LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

13,244

12,508

CURRENT ASSETS

Debtors

5

1,528,808

2,128,483

Cash at bank and in hand

203,181

479,023

1,731,989

2,607,506

CREDITORS

Amounts falling due within one year

6

1,184,491

1,641,344

NET CURRENT ASSETS

547,498

966,162

TOTAL ASSETS LESS CURRENT LIABILITIES

560,742

978,670

CREDITORS

Amounts falling due after more than one year

7

45,740

93,744

NET ASSETS

515,002

884,926

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

515,001

884,925

SHAREHOLDERS' FUNDS

515,002

884,926

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 director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 December 2025 and were signed by:

A C Park - Director

1.	STATUTORY INFORMATION

Park Agencies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

05650716

Registered office:

15 West Street

Brighton

East Sussex

BN1 2RL

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover represents income from the provision of sales of fashion design and the sale of goods, excluding value added tax.

Tangible fixed assets

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

Office equipment

-

25% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation

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

Current 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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

The average number of employees during the year was 23 (2023 - 24 ) .

4.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1 January 2024

27,687

Additions

4,503

At 31 December 2024

32,190

DEPRECIATION

At 1 January 2024

15,179

Charge for year

3,767

At 31 December 2024

18,946

NET BOOK VALUE

At 31 December 2024

13,244

At 31 December 2023

12,508

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,129,674

1,775,777

Other debtors

179,633

175,005

Tax

25,096

9,672

VAT

-

2,023

Prepayments and accrued income

194,405

166,006

1,528,808

2,128,483

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

48,004

114,657

Trade creditors

588,026

1,318,527

Tax

61

23,055

Social security and other taxes

44,557

33,865

VAT

19,941

-

Other creditors

219,057

11,149

Directors' loan accounts

9,924

513

Accruals and deferred income

254,921

139,578

1,184,491

1,641,344

Within bank loans and overdrafts are £48,004 (2023: £46,820) relating to loans due within one year, and £nil (2023: £67,837) relating to overdrawn bank balances.

Included within other creditors is £192,487 (2023 : £0), which is secured on the trade debtors amount.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

45,740

48,004

Bank loans - 2-5 years

-

45,740

45,740

93,744

The bank loan is repayable by July 2026 and interest is charged at 2.5% per annum.