Company Registration No. 11810784 (England and Wales)
Parador Properties Limited
Unaudited accounts
for the year ended 31 January 2023
Parador Properties Limited
Unaudited accounts
Contents
Parador Properties Limited
Company Information
for the year ended 31 January 2023
Directors
Phil Whalley
Kelly-Jayne Tolman
Company Number
11810784 (England and Wales)
Registered Office
First Floor
85 Great Portland Street
London
W1W 7LT
Accountants
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
Parador Properties Limited
Accountants' report
Accountants' report to the board of directors of Parador Properties Limited on the preparation of the unaudited statutory accounts for the year ended 31 January 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Parador Properties Limited for the year ended
31 January 2023 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Parador Properties Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Parador Properties Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Parador Properties Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Parador Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Parador Properties Limited. You consider that Parador Properties Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Parador Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
9 October 2023
Parador Properties Limited
Statement of financial position
as at 31 January 2023
Tangible assets
2,308
3,611
Investment property
858,359
721,390
Cash at bank and in hand
55,423
8,986
Creditors: amounts falling due within one year
(679,617)
(678,636)
Net current liabilities
(624,194)
(669,650)
Total assets less current liabilities
236,473
55,351
Creditors: amounts falling due after more than one year
(272,543)
(85,730)
Net liabilities
(36,070)
(30,379)
Called up share capital
100
100
Profit and loss account
(36,170)
(30,479)
Shareholders' funds
(36,070)
(30,379)
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2023 and were signed on its behalf by
Phil Whalley
Director
Company Registration No. 11810784
Parador Properties Limited
Notes to the Accounts
for the year ended 31 January 2023
Parador Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 11810784. The registered office is First Floor, 85 Great Portland Street, London, W1W 7LT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33% on cost
Parador Properties Limited
Notes to the Accounts
for the year ended 31 January 2023
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 February 2022
5,908
-
5,908
At 31 January 2023
5,908
749
6,657
At 1 February 2022
2,297
-
2,297
Charge for the year
1,969
83
2,052
At 31 January 2023
4,266
83
4,349
At 31 January 2023
1,642
666
2,308
At 31 January 2022
3,611
-
3,611
Fair value at 1 February 2022
721,390
Net gain from fair value adjustments
11,599
At 31 January 2023
858,359
6
Creditors: amounts falling due within one year
2023
2022
Other creditors
138,844
138,688
Loans from directors
540,114
539,289
7
Creditors: amounts falling due after more than one year
2023
2022
Aggregate of amounts that fall due for payment after five years
271,888
85,730
8
Transactions with related parties
At the year end, the company owed the directors £540,114 (2022 - £539,289). No interest has been charged (2022 - £2,000).
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).