REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
T.C.P. PARITY LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
T.C.P. PARITY LIMITED |
T.C.P. PARITY LIMITED (REGISTERED NUMBER: 12347024) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Balance sheet | 1 |
Notes to the financial statements | 3 |
T.C.P. PARITY LIMITED (REGISTERED NUMBER: 12347024) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investment property | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Provisions for liabilities | 8 |
Net assets |
Capital and reserves |
Called up share capital | 9 |
Fair value reserve | 10 |
Retained earnings |
Shareholders' funds |
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. |
T.C.P. PARITY LIMITED (REGISTERED NUMBER: 12347024) |
BALANCE SHEET - continued |
31 DECEMBER 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
T.C.P. PARITY LIMITED (REGISTERED NUMBER: 12347024) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | Statutory information |
T.C.P. Parity Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 12347024. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and the business address is 23 St Osmunds Road, Lower Parkstone, Poole, Dorset, BH14 9JS. |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents rental income accounted for on an accruals basis. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
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 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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
T.C.P. PARITY LIMITED (REGISTERED NUMBER: 12347024) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | Accounting policies - continued |
Financial instruments |
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities. |
At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
Cost |
At 1 January 2023 |
and 31 December 2023 |
Depreciation |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
Net book value |
At 31 December 2023 |
At 31 December 2022 |
5. | Investment property |
Total |
£ |
Fair value |
At 1 January 2023 |
and 31 December 2023 |
Net book value |
At 31 December 2023 |
At 31 December 2022 |
Investment property was valued on an open market basis on 31 December 2023 by the directors. |
6. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Prepayments and accrued income |
T.C.P. PARITY LIMITED (REGISTERED NUMBER: 12347024) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
7. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Tax |
Directors' current accounts | 844,237 | 867,081 |
Accruals and deferred income |
8. | Provisions for liabilities |
2023 | 2022 |
£ | £ |
Deferred tax | 38,885 | 29,679 |
Deferred |
tax |
£ |
Balance at 1 January 2023 |
Credit to Income statement during year | ( |
) |
Charge to fair value reserve | 9,279 |
Balance at 31 December 2023 |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary A | £1 | 52 | 52 |
Ordinary B | £1 | 48 | 48 |
100 | 100 |
10. | Reserves |
Fair |
value |
reserve |
£ |
At 1 January 2023 |
Taxation | (9,279 | ) |
At 31 December 2023 |
11. | Ultimate controlling party |
The Company is under the control of the Directors, by virtue of their combined 100% holding of the issued voting share capital of the Company. |