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REGISTERED NUMBER: 01322354 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Park Lane Garage (Leicester) Limited

Park Lane Garage (Leicester) Limited (Registered number: 01322354)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Park Lane Garage (Leicester) Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: M P Bywater
M J Bywater





REGISTERED OFFICE: Charnwood
40 Cotes Road
Barrow Upon Soar
Loughborough
Leicestershire
LE12 8JS





REGISTERED NUMBER: 01322354 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Park Lane Garage (Leicester) Limited (Registered number: 01322354)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 88,626 88,897
Investment property 5 417,319 417,319
505,945 506,216

CURRENT ASSETS
Debtors 6 38,462 46,522
Cash at bank and in hand 313,115 290,685
351,577 337,207
CREDITORS
Amounts falling due within one year 7 (114,206 ) (84,368 )
NET CURRENT ASSETS 237,371 252,839
TOTAL ASSETS LESS CURRENT
LIABILITIES

743,316

759,055

CAPITAL AND RESERVES
Called up share capital 1,400 1,400
Other reserves 1,600 1,600
Retained earnings 740,316 756,055
743,316 759,055

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.

Park Lane Garage (Leicester) Limited (Registered number: 01322354)

Balance Sheet - continued
31 March 2023


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 July 2023 and were signed on its behalf by:





M J Bywater - Director


Park Lane Garage (Leicester) Limited (Registered number: 01322354)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Park Lane Garage (Leicester) 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.

Turnover
Turnover comprises revenue recognised by the company in respect of rents receivable. Revenue is recognised in the period to which it relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 25% on 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 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.

Government grants
Government grants receivable in relation to expenditure is recognised when the expenditure is charged to the profit and loss.

3. EMPLOYEES AND DIRECTORS

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

Park Lane Garage (Leicester) Limited (Registered number: 01322354)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Long and Computer
Land leasehold fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2022
and 31 March 2023 88,000 7,568 14,563 8,839 118,970
DEPRECIATION
At 1 April 2022 - 7,567 13,861 8,645 30,073
Charge for year - - 78 193 271
At 31 March 2023 - 7,567 13,939 8,838 30,344
NET BOOK VALUE
At 31 March 2023 88,000 1 624 1 88,626
At 31 March 2022 88,000 1 702 194 88,897

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 417,319
NET BOOK VALUE
At 31 March 2023 417,319
At 31 March 2022 417,319

In the opinion of the directors the fair value of the investment properties as at 31 March 2023 was £417,319.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 38,462 46,522

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Taxation and social security 3,868 4,972
Other creditors 110,338 79,396
114,206 84,368

Other creditors includes accruals and deferred income of £1,949 (2022 - £1,100)