Registered number
06922060
Park View Financial Services Ltd
Filleted Accounts
31 March 2023
Park View Financial Services Ltd
Registered number: 06922060
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 14,613 8,076
Current assets
Debtors 5 221,411 156,742
Cash at bank and in hand 143,801 177,722
365,212 334,464
Creditors: amounts falling due within one year 6 (77,621) (117,097)
Net current assets 287,591 217,367
Total assets less current liabilities 302,204 225,443
Provisions for liabilities (2,776) (1,534)
Net assets 299,428 223,909
Capital and reserves
Called up share capital 1,004 1,004
Profit and loss account 298,424 222,905
Shareholders' funds 299,428 223,909
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S J A Clulow
Director
Approved by the board on 7 August 2023
Park View Financial Services Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% reducing balance
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 100,000
At 31 March 2023 100,000
Amortisation
At 1 April 2022 100,000
At 31 March 2023 100,000
Net book value
At 31 March 2023 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 3 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 23,492
Additions 11,408
At 31 March 2023 34,900
Depreciation
At 1 April 2022 15,416
Charge for the year 4,871
At 31 March 2023 20,287
Net book value
At 31 March 2023 14,613
At 31 March 2022 8,076
5 Debtors 2023 2022
£ £
Other debtors 221,411 156,742
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,673 2,351
Taxation and social security costs 68,928 107,844
Other creditors 7,020 6,902
77,621 117,097
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
M P H Turner
Loan repayable on demand 58,975 106,388 (88,548) 76,815
S J A Clulow
Loan repayable on demand 59,321 107,783 (80,013) 87,091
118,296 214,171 (168,561) 163,906
8 Controlling party
There was no ultimate controlling party during the trading period
9 Other information
Park View Financial Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
12 Poplars Court
Lenton Lane
Nottingham
NG7 2RR
Park View Financial Services Ltd 06922060 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2022 S J A Clulow No description of principal activity 06922060 2021-12-01 2022-03-31 06922060 core:WithinOneYear 2022-03-31 06922060 core:ShareCapital 2022-03-31 06922060 core:RetainedEarningsAccumulatedLosses 2022-03-31 06922060 2022-04-01 2023-03-31 06922060 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06922060 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 06922060 bus:Director40 2022-04-01 2023-03-31 06922060 2 2022-04-01 2023-03-31 06922060 core:PlantMachinery 2022-04-01 2023-03-31 06922060 bus:Director1 2022-04-01 2023-03-31 06922060 bus:Director1 1 2022-04-01 2023-03-31 06922060 bus:Director2 2022-04-01 2023-03-31 06922060 bus:Director2 1 2022-04-01 2023-03-31 06922060 countries:England 2022-04-01 2023-03-31 06922060 bus:FRS102 2022-04-01 2023-03-31 06922060 bus:FullAccounts 2022-04-01 2023-03-31 06922060 2023-03-31 06922060 core:WithinOneYear 2023-03-31 06922060 core:ShareCapital 2023-03-31 06922060 core:RetainedEarningsAccumulatedLosses 2023-03-31 06922060 core:Goodwill 2023-03-31 06922060 core:PlantMachinery 2023-03-31 06922060 bus:Director1 1 2023-03-31 06922060 bus:Director2 1 2023-03-31 06922060 2022-03-31 06922060 core:Goodwill 2022-03-31 06922060 core:PlantMachinery 2022-03-31 06922060 bus:Director1 1 2022-03-31 06922060 bus:Director2 1 2022-03-31 iso4217:GBP xbrli:pure