REGISTERED NUMBER: 08447659 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

PARKHILL SMYTH LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G D C Smyth

REGISTERED OFFICE:

20-22 Wenlock Road

London

N1 7GU

REGISTERED NUMBER:

08447659 (England and Wales)

ACCOUNTANTS:

CMB Partnership Limited

Chartered Accountants

7 Wey Court

Mary Road

Guildford

Surrey

GU1 4QU

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

343,500

312,105

343,500

312,105

CURRENT ASSETS

Cash at bank

2,295

13,277

CREDITORS

Amounts falling due within one year

6

262,055

243,246

NET CURRENT LIABILITIES

(259,760

)

(229,969

)

TOTAL ASSETS LESS CURRENT LIABILITIES

83,740

82,136

CREDITORS

Amounts falling due after more than one year

7

(13,282

)

(19,358

)

PROVISIONS FOR LIABILITIES

(5,365

)

(5,118

)

NET ASSETS

65,093

57,660

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

9

64,093

56,660

SHAREHOLDERS' FUNDS

65,093

57,660

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 October 2023 and were signed by:

G D C Smyth - Director

1.	STATUTORY INFORMATION

Parkhill Smyth 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents rents receivable during the year.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost

Investment property

Investment properties are shown at open market value as disclosed in note 5, and are not subject to a depreciation charge. This is a departure from the general requirement of the Companies Act 2006 for all tangible fixed assets to be depreciated. In the opinion of the directors this is necessary for the financial statements to give a true and fair view.

Financial instruments

The Company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Debtors and creditors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price.

Basic financial liabilities, including trade and other creditors, loans from third parties are initially recognised at transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

and 31 March 2023

140

DEPRECIATION

At 1 April 2022

and 31 March 2023

140

NET BOOK VALUE

At 31 March 2023

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

312,105

Additions

30,095

Revaluations

1,300

At 31 March 2023

343,500

NET BOOK VALUE

At 31 March 2023

343,500

At 31 March 2022

312,105

The investment property represents the purchase and associated costs of buying seven (2022 seven) properties. The director considers that the open market value of the properties at 31 March 2023 is £343,500 (2022 £312,105).

Fair value at 31 March 2023 is represented by:

£

Valuation in 2016

23,935

Valuation in 2018

3,000

Valuation in 2023

1,300

Cost

315,265

343,500

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

5,800

8,983

Taxation and social security

1,497

523

Other creditors

254,758

233,740

262,055

243,246

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

13,282

19,358

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.23

31.3.22

£

£

Bank loans

19,082

28,341

The bank have a fixed charge over one of the properties.

9.

RESERVES

Reserves include £22,870 (2022: £21,817) net of deferred taxation relating to the revaluation of investment properties which is not distributable.

10.	RELATED PARTY DISCLOSURES

At 31 March 2023 the company owed the director £188,155 (2022 £177,155).

11.	ULTIMATE CONTROLLING PARTY

The controlling party is G D C Smyth.