Registered number
11995790
Park Associates (Cheltenham) Limited
Filleted Accounts
31 May 2023
Park Associates (Cheltenham) Limited
Company Information
Directors
J W M Hadfield
Mrs E J Hadfield
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered office
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered number
11995790
Park Associates (Cheltenham) Limited
Registered number: 11995790
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 9,855 500
Investments 4 1,230,000 848,300
1,239,855 848,800
Current assets
Cash at bank and in hand 769,684 33,106
Creditors: amounts falling due within one year 6 (1,650) (1,650)
Net current assets 768,034 31,456
Total assets less current liabilities 2,007,889 880,256
Creditors: amounts falling due after more than one year 7 (1,815,540) (747,055)
Net assets 192,349 133,201
Capital and reserves
Called up share capital 100 100
Profit and loss account 192,249 133,101
Shareholders' funds 192,349 133,201
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.
J W M Hadfield
Director
Approved by the board on 31 October 2023
Park Associates (Cheltenham) Limited
Notes to the Accounts
for the year ended 31 May 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.
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:
Computer equipment over 5 years
Fixtures & fittings over 5 years
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.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Computer equipment Fixtures & fittings Total
£ £ £
Cost
At 1 June 2022 602 - 602
Additions 2,423 9,443 11,866
At 31 May 2023 3,025 9,443 12,468
Depreciation
At 1 June 2022 102 - 102
Charge for the year 623 1,888 2,511
At 31 May 2023 725 1,888 2,613
Net book value
At 31 May 2023 2,300 7,555 9,855
At 31 May 2022 500 - 500
4 Investments
Other
investments
£
Cost
At 1 June 2022 848,300
Additions 330,000
Revaluation 71,450
Disposals (19,750)
At 31 May 2023 1,230,000
5 Investments held as current assets 2023 2022
£ £
Fair value
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments 71,450 220,815
6 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 1,650 1,650
7 Creditors: amounts falling due after one year 2023 2022
£ £
Directors loan 1,815,540 747,055
8 Controlling party
The company is controlled by the directors.
9 Other information
Park Associates (Cheltenham) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
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