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REGISTERED NUMBER: 06783659 (England and Wales)












PRIVATE PARKING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






PRIVATE PARKING LIMITED (REGISTERED NUMBER: 06783659)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRIVATE PARKING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: Ms K L Bowditch



SECRETARY: Ms K L Bowditch



REGISTERED OFFICE: 3 The Works
55 Millbrook Road East
Southampton
Hampshire
SO16 1HN



REGISTERED NUMBER: 06783659 (England and Wales)



BANKERS: Handelsbanken
Oceana House
39-49 Commercial Road
Southampton
Hampshire
SO15 1GA

PRIVATE PARKING LIMITED (REGISTERED NUMBER: 06783659)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 778,103 733,500
778,103 733,500

CURRENT ASSETS
Debtors 6 48,029 49,042
Cash at bank 22,721 31,022
70,750 80,064
CREDITORS
Amounts falling due within one year 7 (172,838 ) (128,557 )
NET CURRENT LIABILITIES (102,088 ) (48,493 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

676,015

685,007

CREDITORS
Amounts falling due after more than one year 8 (296,975 ) (306,975 )

PROVISIONS FOR LIABILITIES (71,473 ) (71,473 )
NET ASSETS 307,567 306,559

PRIVATE PARKING LIMITED (REGISTERED NUMBER: 06783659)

BALANCE SHEET - continued
31 MAY 2023

2023 2022
Notes £ £
CAPITAL AND RESERVES
Called up share capital 100 100
Unrealised reserves 240,585 240,585
Retained earnings 66,882 65,874
SHAREHOLDERS' FUNDS 307,567 306,559

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 4 October 2023 and were signed by:





Ms K L Bowditch - Director


PRIVATE PARKING LIMITED (REGISTERED NUMBER: 06783659)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Private Parking Limited 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 FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Computer equipment - Straight line over 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

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 Income Statement, 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.


PRIVATE PARKING LIMITED (REGISTERED NUMBER: 06783659)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued
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.

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

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

PRIVATE PARKING LIMITED (REGISTERED NUMBER: 06783659)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


4. TANGIBLE FIXED ASSETS
Computer
equipment
£
COST
At 1 June 2022
and 31 May 2023 961
DEPRECIATION
At 1 June 2022
and 31 May 2023 961
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 June 2022 733,500
Additions 44,603
At 31 May 2023 778,103
NET BOOK VALUE
At 31 May 2023 778,103
At 31 May 2022 733,500

Fair value at 31 May 2023 is represented by:
£
Valuation in 2014 187,847
Valuation in 2015 17,588
Valuation in 2016 14,472
Valuation in 2017 37,340
Valuation in 2018 (52,680 )
Valuation in 2021 87,491
Valuation in 2022 20,000
Cost 466,045
778,103

Investment property was valued on an open market basis on 31 May 2023 by the director, Mrs K Bowditch.

PRIVATE PARKING LIMITED (REGISTERED NUMBER: 06783659)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors - 1,013
Other debtors 48,029 48,029
48,029 49,042

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Taxation and social security 320 1,038
Other creditors 162,518 117,519
172,838 128,557

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 296,975 306,975

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 306,975 316,975

The bank loan is secured by a charge over the company's investment properties.