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REGISTERED NUMBER: 02735396 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

PARKCLASS LIMITED

PARKCLASS LIMITED (REGISTERED NUMBER: 02735396)

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


PARKCLASS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: R W Bennett
Mrs L Kemeys
Mrs L C John





SECRETARY: R W Bennett





REGISTERED OFFICE: Court House
Court Road
Bridgend
CF31 1BE





REGISTERED NUMBER: 02735396 (England and Wales)





ACCOUNTANTS: Graham Paul Limited
Court House
Court Road
Bridgend
CF31 1BE

PARKCLASS LIMITED (REGISTERED NUMBER: 02735396)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 1,885,000 1,350,000
1,885,000 1,350,000

CURRENT ASSETS
Debtors 6 35,315 33,263
Cash at bank 5,784 14,172
41,099 47,435
CREDITORS
Amounts falling due within one year 7 168,081 172,421
NET CURRENT LIABILITIES (126,982 ) (124,986 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,758,018

1,225,014

CREDITORS
Amounts falling due after more than one
year

8

615,054

677,800
NET ASSETS 1,142,964 547,214

CAPITAL AND RESERVES
Called up share capital 9,999 9,999
Revaluation reserve 9 705,068 170,068
Retained earnings 427,897 367,147
1,142,964 547,214

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.

PARKCLASS LIMITED (REGISTERED NUMBER: 02735396)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2023 and were signed on its behalf by:





Mrs L Kemeys - Director


PARKCLASS LIMITED (REGISTERED NUMBER: 02735396)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Parkclass 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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 Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

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

PARKCLASS LIMITED (REGISTERED NUMBER: 02735396)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 51,328
DEPRECIATION
At 1 April 2022
and 31 March 2023 51,328
NET BOOK VALUE
At 31 March 2023 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,350,000
Revaluation in the year 535,000
At 31 March 2023 1,885,000
NET BOOK VALUE
At 31 March 2023 1,885,000
At 31 March 2022 1,350,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2003 67,431
Valuation in 2014 (401,119 )
Valuation in 2020 (85,000 )
Valuation in 2023 535,000
Cost 1,768,688
1,885,000

If Investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,768,688 1,768,688

Investment property was valued on an open market basis on 29 November 2022 by Chris Clarke Surveyors Limited .

PARKCLASS LIMITED (REGISTERED NUMBER: 02735396)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 35,315 33,263

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 64,925 70,028
Trade creditors 558 642
Taxation and social security 23,759 26,197
Other creditors 78,839 75,554
168,081 172,421

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 615,054 677,800

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 351,346 399,368

9. RESERVES
Revaluation
reserve
£   
At 1 April 2022 170,068
Revaluation in the year 535,000

At 31 March 2023 705,068

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
R W Bennett
Balance outstanding at start of year - 2,807
Amounts repaid - (2,807 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

PARKCLASS LIMITED (REGISTERED NUMBER: 02735396)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


11. RELATED PARTY DISCLOSURES

At the balance sheet date the aggregate amount owed to Directors was £35,819 (2022: £36,521) and the amount owed to non director shareholders was £11,349 (2022:£10,218) and amounts owed from non director shareholders was £3,293 (2022:£1,242).