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REGISTERED NUMBER: 12756890 (England and Wales)














Unaudited Financial Statements for the Year Ended 31 July 2023

for

Parkvibe Westcliff Limited

Parkvibe Westcliff Limited (Registered number: 12756890)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Parkvibe Westcliff Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: Mr R Goldman
Mr N Bajaj
Ms J Jyoti





REGISTERED OFFICE: The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY





REGISTERED NUMBER: 12756890 (England and Wales)





ACCOUNTANTS: Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

Parkvibe Westcliff Limited (Registered number: 12756890)

Statement of Financial Position
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 87,500 100,000
Tangible assets 5 56,526 66,339
144,026 166,339

CURRENT ASSETS
Stocks 26,548 19,177
Debtors 6 54,311 47,522
Cash at bank 6,851 3,653
87,710 70,352
CREDITORS
Amounts falling due within one year 7 250,337 245,201
NET CURRENT LIABILITIES (162,627 ) (174,849 )
TOTAL ASSETS LESS CURRENT LIABILITIES (18,601 ) (8,510 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (18,701 ) (8,610 )
SHAREHOLDERS' FUNDS (18,601 ) (8,510 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Parkvibe Westcliff Limited (Registered number: 12756890)

Statement of Financial Position - continued
31 July 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 15 April 2024 and were signed on its behalf by:




Mr R Goldman - Director Mr N Bajaj - Director




Ms J Jyoti - Director


Parkvibe Westcliff Limited (Registered number: 12756890)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Parkvibe Westcliff 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.

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 2021, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Parkvibe Westcliff Limited (Registered number: 12756890)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

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.

Going concern
The financial statements have been prepared on the going concern basis. The director is of the opinion that the shareholders will continue to support it, and provide adequate funding when necessary to enable it to meet its obligations for the foreseeable future, being for a period of at least twelve months from the date of approval of the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 125,000
AMORTISATION
At 1 August 2022 25,000
Charge for year 12,500
At 31 July 2023 37,500
NET BOOK VALUE
At 31 July 2023 87,500
At 31 July 2022 100,000

Parkvibe Westcliff Limited (Registered number: 12756890)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 August 2022 2,985 73,321 2,825 79,131
Additions 176 172 - 348
At 31 July 2023 3,161 73,493 2,825 79,479
DEPRECIATION
At 1 August 2022 448 11,108 1,236 12,792
Charge for year 407 9,357 397 10,161
At 31 July 2023 855 20,465 1,633 22,953
NET BOOK VALUE
At 31 July 2023 2,306 53,028 1,192 56,526
At 31 July 2022 2,537 62,213 1,589 66,339

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 54,280 46,696
Other debtors 31 826
54,311 47,522

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 72,793 52,734
Amounts owed to associates 160,869 171,569
Taxation and social security 3,643 3,097
Other creditors 13,032 17,801
250,337 245,201

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Parkvibe Westcliff Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Parkvibe Westcliff Limited for the year ended 31 July 2023 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Parkvibe Westcliff Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Parkvibe Westcliff Limited and state those matters that we have agreed to state to the Board of Directors of Parkvibe Westcliff Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Parkvibe Westcliff Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Parkvibe Westcliff Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Parkvibe Westcliff Limited. You consider that Parkvibe Westcliff Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Parkvibe Westcliff Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY


Date: .............................................