Registered number
01997557
Park Garage (Manchester) Limited
Unaudited Filleted Accounts
31 March 2023
Park Garage (Manchester) Limited
Registered number: 01997557
Balance Sheet
as at 31 March 2023
Notes 2023 2021
£ £
Current assets
Investments held as current assets 3 736,298 866,946
Cash at bank and in hand 35,574 36,290
771,872 903,236
Creditors: amounts falling due within one year 4 (1,110) (728)
Net current assets 770,762 902,508
Total assets less current liabilities 770,762 902,508
Provisions for liabilities - (7,970)
Net assets 770,762 894,538
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account 760,762 884,538
Shareholder's funds 770,762 894,538
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Ronald Dobson
Director
Approved by the board on 29 September 2023
Park Garage (Manchester) Limited
Notes to the Accounts
for the period from 1 October 2021 to 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).
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2021
Number Number
Average number of persons employed by the company 1 1
3 Investments held as current assets 2023 2021
£ £
Fair value
Listed investments 736,298 866,946
Increase/(decrease) in fair value included in the profit and loss account for the period
Listed investments (109,869) 182,757
The investments held are listed unit trusts. They have been valued based on the market price at the balance sheet date.
4 Creditors: amounts falling due within one year 2023 2021
£ £
Taxation and social security costs 471 -
Other creditors 639 728
1,110 728
5 Related party transactions
Dividends of £54,000 (2021: £36,000) were paid to Ronald Dobson during the period.
6 Controlling party
The company is controlled by Ronald Dobson.
7 Other information
Park Garage (Manchester) Limited is a private company limited by shares and incorporated in England. Its registered office is:
36 Oakwood Drive
Worsley
Manchester
M28 3HN
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