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REGISTERED NUMBER: 05953662 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Parabar Developments Limited

Parabar Developments Limited (Registered number: 05953662)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Parabar Developments Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: P Bar
D Paradise





SECRETARY: P Bar





REGISTERED OFFICE: Shadwell House
65 Lower Green Road
Rusthall
Tunbridge Wells
Kent
TN4 8TW





REGISTERED NUMBER: 05953662 (England and Wales)





ACCOUNTANTS: Peter Hodgson & Co.
Chartered Accountants
Shadwell House
65 Lower Green Road
Tunbridge Wells
Kent
TN4 8TW

Parabar Developments Limited (Registered number: 05953662)

Statement of Financial Position
31 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,786,355 2,267,979

CURRENT ASSETS
Debtors 5 - 365,575
Cash at bank 138,104 1,521,053
138,104 1,886,628
CREDITORS
Amounts falling due within one year 6 786,128 889,715
NET CURRENT (LIABILITIES)/ASSETS (648,024 ) 996,913
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,138,331

3,264,892

CREDITORS
Amounts falling due after more than one
year

7

1,429,034

1,801,250
NET ASSETS 1,709,297 1,463,642

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 1,709,197 1,463,542
SHAREHOLDERS' FUNDS 1,709,297 1,463,642

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.

Parabar Developments Limited (Registered number: 05953662)

Statement of Financial Position - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 October 2023 and were signed on its behalf by:





D Paradise - Director


Parabar Developments Limited (Registered number: 05953662)

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

1. STATUTORY INFORMATION

Parabar Developments 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.

Significant judgements and estimates
The valuation of investment properties is a significant estimate included in these accounts.

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

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 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.

Functional currency
The functional currency used by the company is £ Sterling.

Financial instruments
Basic financial instruments including cash and bank balances are disclosed at fair value.

3. EMPLOYEES AND DIRECTORS

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

Parabar Developments Limited (Registered number: 05953662)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2022 2,267,979
Additions 1,518,376
At 31 December 2022 3,786,355
NET BOOK VALUE
At 31 December 2022 3,786,355
At 31 December 2021 2,267,979

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Due from related parties - 365,575

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 333,258 294,300
Tax 27,804 217,070
Due to related parties 379,374 328,312
Directors' current accounts 1,159 5,700
Accruals & deferred income 44,533 44,333
786,128 889,715

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 1,429,034 1,801,250

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100

Parabar Developments Limited (Registered number: 05953662)

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

9. RESERVES
Retained
earnings
£   

At 1 January 2022 1,463,542
Profit for the year 335,655
Dividends (90,000 )
At 31 December 2022 1,709,197