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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2025
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PRODUCTION BUREAU LIMITED
COMPANY INFORMATION
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PRODUCTION BUREAU LIMITED
CONTENTS
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PRODUCTION BUREAU LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The Directors present the Strategic Report for the year ended 31 December 2025.
The Company is a dynamic, multi service, production agency offering services that span across creative design, motion, digital, technical and production services, virtual, hybrid, and live events, exhibition and spatial design, construction and delivery, all of which are delivered using in-house expertise. Clients include corporate organisations, agencies, public bodies, and commercial event organisers. The Company delivers both individual production elements and full service technical support for live, hybrid, and digital events. The event production sector continued to operate in a competitive and evolving environment during the year, marked by increasing client expectations regarding production quality, reliability, and sustainability standards. The Company maintained its focus on delivering technically robust solutions and high service levels while managing operational and cost pressures inherent in the industry.
The Directors aim to present a balanced and comprehensive analysis of the Company’s activity during the year and the position of the Company’s business at the year end consistent with the size and complexity of the operation.
The Directors report that turnover increased in 2025 to £12,878,081 compared to £12,479,065 for the previous year. Gross profit for the year ended 31 December 2025 increased by £662,790 to £6,985,875 with the margin increasing from 50.7% in 2024 to 54.2% in 2025. Operating profit before tax has increased from £506,191 in 2024 to £549,230 in 2025. Revenue for the financial year reflected ongoing demand for live events, supplemented by hybrid and digital components that remain a standard feature of many corporate and public sector events. Profitability was influenced by equipment maintenance costs, labour availability, and the capital intensity of production assets. Management continued to monitor margins through disciplined project costing, improved utilisation of equipment, and efficient allocation of technical labour. Cash flows remained stable, supported by repeat client activity and effective working capital management. The Company continues to invest prudently in equipment aligned to client demand trends and operational needs.
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PRODUCTION BUREAU LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The key risks and uncertainties facing the Company are summarised below:
Market and Demand Risk The events sector is sensitive to economic conditions, corporate budgets, and discretionary spending. Reductions in client marketing or events budgets may adversely affect demand. Management monitors market activity and maintains a diversified client base across sectors. Operational and Delivery Risk Event production involves technical complexity and time critical delivery. Failures in equipment, staffing, or operational execution could impact project outcomes. The Company mitigates this risk through experienced technical staff, pre event testing procedures, and investments in reliable equipment. Labour and Skills Availability The industry relies on specialist technical staff, including freelancers. Shortages can increase cost or limit delivery capacity. The Company maintains a broad network of skilled freelancers and invests in developing internal capability. Capital Investment and Asset Utilisation Production equipment requires significant capital expenditure and ongoing maintenance. Under utilisation could adversely affect returns. The Company actively monitors asset utilisation and prioritises investment based on forecast client demand and lifecycle planning. Technological Change Advances in production technologies (e.g. LED, virtual production, automation) may require ongoing investment to remain competitive. The Company reviews technological developments and invests selectively to support client requirements. Health and Safety Risk Event environments present inherent health and safety risks. The Company maintains appropriate risk assessments, training, and compliance processes to protect staff, freelancers, and clients. Financial and Cash Flow Risk The timing of events can create fluctuations in cash flows. Management maintains strong invoicing discipline and monitors receivables closely.
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PRODUCTION BUREAU LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The Directors expect demand for live and hybrid events to remain stable in the near term. The Company intends to continue strengthening its production capability, improving operational processes, and investing in equipment aligned to client demand.
Future plans include: • Enhancing digital and hybrid event capacity where appropriate • Improving equipment utilisation and cost efficiency • Continuing disciplined capital investment • Strengthening internal and freelance talent pipelines • Developing sustainable production practices, including reusable scenic materials and improved environmental reporting The Company will continue to monitor economic conditions, client behaviour, and industry developments to ensure an appropriate response to changes in the market environment.
The Company uses non financial areas of the business such as customer service, staff retention and absence monitoring and wellbeing indicators which are considered key to the business and are also monitored using KPl's.
We take our responsibility for the community in which we live seriously, and we partner with a number of local charity groups and individuals to support areas of sport, creative industry education, disadvantaged groups, and our local community. We believe this is an important part of being a good business and we continue to evaluate partnerships where we believe there are areas of need which align with our business ethos. We also continue to participate in a number of creative industry groups, where we give our time, expertise and energy to support new talent, build communities of good practice, and gain and share industry insights.
After reviewing forecasts, cash flow projections, and available financial resources, the Directors have a reasonable expectation that the Company has adequate resources to continue operating for at least twelve months from the date of approval of the financial statements. Accordingly, the financial statements have been prepared on a going concern basis.
This report was approved by the board and signed on its behalf.
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PRODUCTION BUREAU LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £342,866 (2024 - £331,890).
Dividends paid during the year amounted to £375,000 (2024 - £350,000).
The directors who served during the year were:
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PRODUCTION BUREAU LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company regularly reviews the product offering and seeks to innovate and adapt to the changing needs of our clients and the marketplace. Sustainable practices will guide our future business thinking as our clients now demand so much more of us in this area.
Our growing experience in large scale events will also encourage us to think more widely of business opportunities in this area. The events industry is built on relationships, and continued investment in our people both existing and new talent, will be a priority, ensuring the teams who represents the Company with our clients, are the best they can be in knowledge, skills, and attitude. The above will contribute to the continued business growth and profitability of the Company in the future.
There have been no significant events affecting the Company since the year end.
The auditors, MA Partners Audit LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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PRODUCTION BUREAU LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PRODUCTION BUREAU LIMITED
We have audited the financial statements of Production Bureau Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of Comprehensive Income, the Analysis of Net Debt, the Balance Sheet, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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PRODUCTION BUREAU LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PRODUCTION BUREAU LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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PRODUCTION BUREAU LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PRODUCTION BUREAU LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the Company. Our approach was as follows: • We obtained an understanding of the legal and regulatory requirements applicable to the Company and considered that the most significant are the Companies Act 2006, UK financial reporting standards as issued by the Financial Reporting Council, and UK taxation legislation. • We obtained an understanding of how the Company complies with these requirements by discussions with management and those charged with governance. • We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance. • We inquired of management and those charged with governance as to any known instances of non- compliance or suspected non-compliance with laws and regulations. • Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
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PRODUCTION BUREAU LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PRODUCTION BUREAU LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants and Statutory Auditors
7 The Close
Norfolk
NR1 4DJ
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PRODUCTION BUREAU LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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PRODUCTION BUREAU LIMITED
REGISTERED NUMBER: 04115489
BALANCE SHEET
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 17 to 30 form part of these financial statements.
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PRODUCTION BUREAU LIMITED
REGISTERED NUMBER: 04115489
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
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PRODUCTION BUREAU LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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PRODUCTION BUREAU LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
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PRODUCTION BUREAU LIMITED
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
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PRODUCTION BUREAU LIMITED
ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2025
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PRODUCTION BUREAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The entity is a Company limited by shares, incorporated in the United Kingdom. The registered office address of the Company is Hall Farm, Gowthorpe Lane, Swardeston, Norwich, Norfolk, NR14 8DS.
The principal activities of the Company continue to be those of communications, events production and design.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
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PRODUCTION BUREAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
The tax expense for the year comprises current and deferred tax. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
All assets costing more than £500 are capitalised.
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PRODUCTION BUREAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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PRODUCTION BUREAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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PRODUCTION BUREAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Useful economic lives of tangible fixed assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 12 for the carrying amount of the tangible assets and note 2.7 for the useful economic lives for each class of assets.
The whole of the turnover is attributable to the principal activities.
Analysis of turnover by country of destination:
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PRODUCTION BUREAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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PRODUCTION BUREAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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PRODUCTION BUREAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
10.Taxation (continued)
There were no factors that may affect future tax charges.
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PRODUCTION BUREAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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PRODUCTION BUREAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The bank loan is secured by a debenture and a legal charge over freehold property owned by Bloomcrown Ltd.
Hire purchase and finance lease obligations are secured on the assets financed.
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PRODUCTION BUREAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The bank loan is secured by a debenture and a legal charge over freehold property owned by Bloomcrown Ltd.
Hire purchase and finance lease obligations are secured on the assets financed.
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PRODUCTION BUREAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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PRODUCTION BUREAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Profit and loss account
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £155,429 (2024 - £142,884). Contributions totalling £30,588 (2024 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.
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PRODUCTION BUREAU LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
As at 31 December 2025, the ultimate parent undertaking is Bloomcrown Limited. Bloomcrown Limited is controlled by a director, IM Greenfield.
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