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REGISTERED NUMBER: SC413993 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Park Property Management Ltd

Park Property Management Ltd (Registered number: SC413993)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Park Property Management Ltd

Company Information
for the Year Ended 30 June 2023







DIRECTOR: Paul M McDermott





REGISTERED OFFICE: 11 Somerset Place
Glasgow
G3 7JT





REGISTERED NUMBER: SC413993 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Park Property Management Ltd (Registered number: SC413993)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 154,391 166,267
Tangible assets 5 39,902 48,673
194,293 214,940

CURRENT ASSETS
Debtors 6 32,768 21,400
Cash at bank 7,095 42,033
39,863 63,433
CREDITORS
Amounts falling due within one year 7 97,060 104,393
NET CURRENT LIABILITIES (57,197 ) (40,960 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

137,096

173,980

CREDITORS
Amounts falling due after more than one
year

8

(312,962

)

(406,535

)

PROVISIONS FOR LIABILITIES 10 (4,430 ) (1,743 )
NET LIABILITIES (180,296 ) (234,298 )

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings (180,297 ) (234,299 )
SHAREHOLDERS' FUNDS (180,296 ) (234,298 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Park Property Management Ltd (Registered number: SC413993)

Balance Sheet - continued
30 June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 March 2024 and were signed by:





Paul M McDermott - Director


Park Property Management Ltd (Registered number: SC413993)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Park Property Management Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of twenty years.

Other intangible assets
A database was purchased during the year. It is being written off over its useful life of two years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fittings and equipment - 15% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 15% on reducing balance

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Park Property Management Ltd (Registered number: SC413993)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill Database Totals
£    £    £   
COST
At 1 July 2022
and 30 June 2023 237,523 64,570 302,093
AMORTISATION
At 1 July 2022 71,256 64,570 135,826
Amortisation for year 11,876 - 11,876
At 30 June 2023 83,132 64,570 147,702
NET BOOK VALUE
At 30 June 2023 154,391 - 154,391
At 30 June 2022 166,267 - 166,267

Park Property Management Ltd (Registered number: SC413993)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS
Fittings
and Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022 8,886 77,013 23,030 108,929
Disposals - (4,583 ) - (4,583 )
At 30 June 2023 8,886 72,430 23,030 104,346
DEPRECIATION
At 1 July 2022 1,596 48,014 10,646 60,256
Charge for year 1,094 4,091 1,857 7,042
Eliminated on disposal - (2,854 ) - (2,854 )
At 30 June 2023 2,690 49,251 12,503 64,444
NET BOOK VALUE
At 30 June 2023 6,196 23,179 10,527 39,902
At 30 June 2022 7,290 28,999 12,384 48,673

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 32,768 21,400

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 21,012 28,151
Trade creditors 19,743 23,553
Taxation and social security 52,394 48,868
Other creditors 3,911 3,821
97,060 104,393

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 38,176 63,993
Other creditors 274,786 342,542
312,962 406,535

Park Property Management Ltd (Registered number: SC413993)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 59,188 92,144

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 4,430 1,743

Deferred
tax
£   
Balance at 1 July 2022 1,743
Charge to Statement of Income and Retained Earnings during year 2,687
Balance at 30 June 2023 4,430

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary £0.0001 1 1