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REGISTERED NUMBER: 12370195 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Parliament Square (Liverpool) Residences
Ltd

Parliament Square (Liverpool) Residences
Ltd (Registered number: 12370195)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Parliament Square (Liverpool) Residences
Ltd

Company Information
for the Year Ended 31 December 2022







DIRECTORS: Mr I S Kang
Mrs A K Kang





REGISTERED OFFICE: Pinnacle House
1 Pinnacle Way
Derby
DE24 8ZS





REGISTERED NUMBER: 12370195 (England and Wales)





ACCOUNTANTS: Underwood Green
Pinnacle House
1 Pinnacle Way
Derby
Derbyshire
DE24 8ZS

Parliament Square (Liverpool) Residences
Ltd (Registered number: 12370195)

Balance Sheet
31 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,750 17,000
Investment property 5 766,130 741,510
779,880 758,510

CURRENT ASSETS
Debtors 6 3,897 -
Cash at bank and in hand 6,087 2
9,984 2
CREDITORS
Amounts falling due within one year 7 191,355 379,862
NET CURRENT LIABILITIES (181,371 ) (379,860 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

598,509

378,650

CREDITORS
Amounts falling due after more than one
year

8

594,390

382,553
NET ASSETS/(LIABILITIES) 4,119 (3,903 )

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 4,117 (3,905 )
SHAREHOLDERS' FUNDS 4,119 (3,903 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

Parliament Square (Liverpool) Residences
Ltd (Registered number: 12370195)

Balance Sheet - continued
31 December 2022


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 Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:





Mr I S Kang - Director


Parliament Square (Liverpool) Residences
Ltd (Registered number: 12370195)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Parliament Square (Liverpool) Residences Ltd is a private company, limited by shares , registered in England and Wales. 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 represents rents receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture, fixtures and fittings - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

Parliament Square (Liverpool) Residences
Ltd (Registered number: 12370195)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

4. TANGIBLE FIXED ASSETS
Furniture,
fixtures
and
fittings
£   
COST
At 1 January 2022
and 31 December 2022 17,000
DEPRECIATION
Charge for year 3,250
At 31 December 2022 3,250
NET BOOK VALUE
At 31 December 2022 13,750
At 31 December 2021 17,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2022 741,510
Additions 24,620
At 31 December 2022 766,130
NET BOOK VALUE
At 31 December 2022 766,130
At 31 December 2021 741,510

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 3,600 -
Prepayments and accrued income 297 -
3,897 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 187,310 379,292
Tax 1,728 -
Other creditors 1,470 -
Directors' current accounts 187 -
Accruals and deferred income 660 570
191,355 379,862

Parliament Square (Liverpool) Residences
Ltd (Registered number: 12370195)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 299,094 94,257
Other loans 295,296 288,296
594,390 382,553

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 299,094 94,257

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 299,094 94,257

The bank loan is secured by a charge on the investment property.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
2 Ordinary £1 2 2