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REGISTERED NUMBER: 03379396 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Parkside Corporation Limited

Parkside Corporation Limited (Registered number: 03379396)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Parkside Corporation Limited

Company Information
for the year ended 31 March 2023







DIRECTORS: Mr P M Bell
Mrs Z Bell





SECRETARY: Mrs Z Bell





REGISTERED OFFICE: 3 Railway Court
Ten Pound Walk
Doncaster
DN4 5FB





REGISTERED NUMBER: 03379396 (England and Wales)





ACCOUNTANTS: Royston Parkin Limited
2 President Buildings
Savile Street East
Sheffield
South Yorkshire
S4 7UQ

Parkside Corporation Limited (Registered number: 03379396)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 189 20,383
Investments 5 770,204 770,204
Investment property 6 4,725,000 3,430,000
5,495,393 4,220,587

CURRENT ASSETS
Debtors 7 12,583 461,775
Cash at bank 150,804 7,272
163,387 469,047
CREDITORS
Amounts falling due within one year 8 978,972 562,553
NET CURRENT LIABILITIES (815,585 ) (93,506 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,679,808

4,127,081

CREDITORS
Amounts falling due after more than one
year

9

(2,868,429

)

(2,456,442

)

PROVISIONS FOR LIABILITIES (155,896 ) (160,451 )
NET ASSETS 1,655,483 1,510,188

Parkside Corporation Limited (Registered number: 03379396)

Statement of Financial Position - continued
31 March 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 208 208
Share premium 6,996 6,996
Retained earnings 1,648,279 1,502,984
1,655,483 1,510,188

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 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.

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 18 May 2023 and were signed on its behalf by:





Mr P M Bell - Director


Parkside Corporation Limited (Registered number: 03379396)

Notes to the Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Parkside Corporation 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 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Parkside Corporation Limited (Registered number: 03379396)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 AND DIRECTORS

The average number of employees during the year was NIL (2022 - 3 ).

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Long and
leasehold fittings Totals
£    £    £   
COST
At 1 April 2022 50,400 5,328 55,728
Disposals (50,400 ) - (50,400 )
At 31 March 2023 - 5,328 5,328
DEPRECIATION
At 1 April 2022 30,240 5,105 35,345
Charge for year 5,040 34 5,074
Eliminated on disposal (35,280 ) - (35,280 )
At 31 March 2023 - 5,139 5,139
NET BOOK VALUE
At 31 March 2023 - 189 189
At 31 March 2022 20,160 223 20,383

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 770,204
NET BOOK VALUE
At 31 March 2023 770,204
At 31 March 2022 770,204

Parkside Corporation Limited (Registered number: 03379396)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 3,430,000
Additions 2,078,973
Disposals (825,000 )
Revaluations 41,027
At 31 March 2023 4,725,000
NET BOOK VALUE
At 31 March 2023 4,725,000
At 31 March 2022 3,430,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2019 184,477
Valuation in 2021 660,000
Valuation in 2023 45,000
Cost 3,835,523
4,725,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 11,401 11,309
Amount owed from group co - 450,466
Prepayments 1,182 -
12,583 461,775

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 25,000
Trade creditors 262,713 1,718
Social security and other taxes 577 208
Other creditors - 17,364
Directors' current accounts 713,282 511,503
Accruals and deferred income 2,400 6,760
978,972 562,553

Parkside Corporation Limited (Registered number: 03379396)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 2,868,429 2,374,667
Other creditors - 81,775
2,868,429 2,456,442