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REGISTERED NUMBER: 10758036 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

PARK ROAD DEVELOPMENTS (HYTHE) LIMITED

PARK ROAD DEVELOPMENTS (HYTHE) LIMITED (REGISTERED NUMBER: 10758036)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

PARK ROAD DEVELOPMENTS (HYTHE) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: J Cullum





REGISTERED OFFICE: 45 Queen Street
Deal
Kent
CT14 6EY





REGISTERED NUMBER: 10758036 (England and Wales)





ACCOUNTANTS: Higson & Co (Deal) Ltd
45 Queen Street
Deal
Kent
CT14 6EY

PARK ROAD DEVELOPMENTS (HYTHE) LIMITED (REGISTERED NUMBER: 10758036)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 325,000 300,000

CURRENT ASSETS
Debtors 5 209,512 195,887
Cash at bank - 706
209,512 196,593
CREDITORS
Amounts falling due within one year 6 305,952 294,317
NET CURRENT LIABILITIES (96,440 ) (97,724 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

228,560

202,276

CREDITORS
Amounts falling due after more than one
year

7

(228,425

)

(228,425

)

PROVISIONS FOR LIABILITIES 9 (17,870 ) (13,120 )
NET LIABILITIES (17,735 ) (39,269 )

CAPITAL AND RESERVES
Called up share capital 10 2 2
Fair value reserve 11 76,183 55,933
Retained earnings (93,920 ) (95,204 )
SHAREHOLDERS' FUNDS (17,735 ) (39,269 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 ROAD DEVELOPMENTS (HYTHE) LIMITED (REGISTERED NUMBER: 10758036)

BALANCE SHEET - continued
31 MAY 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 22 February 2024 and were signed by:





J Cullum - Director


PARK ROAD DEVELOPMENTS (HYTHE) LIMITED (REGISTERED NUMBER: 10758036)

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

1. STATUTORY INFORMATION

Park Road Developments (Hythe) 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.

The Financial Statements are presented in round pounds 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 as modified by the revaluation of certain assets.

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 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.

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.

Going concern
The financial statements have been prepared on the going concern basis as the Director continues to support the Company via the director's loan account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

PARK ROAD DEVELOPMENTS (HYTHE) LIMITED (REGISTERED NUMBER: 10758036)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 300,000
Revaluations 25,000
At 31 May 2023 325,000
NET BOOK VALUE
At 31 May 2023 325,000
At 31 May 2022 300,000

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2020 69,052
Valuation in 2023 25,000
Cost 230,948
325,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 144,184 133,742
Other debtors 65,153 62,145
Prepayments 175 -
209,512 195,887

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 210
Tax 301 -
Other creditors 236,255 225,597
Rental deposits - 1,150
Directors' current accounts 68,455 65,560
Accrued expenses 941 1,800
305,952 294,317

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans more 5yrs instal 228,425 228,425

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 228,425 228,425

PARK ROAD DEVELOPMENTS (HYTHE) LIMITED (REGISTERED NUMBER: 10758036)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgage 228,425 228,425

The mortgage is secured by way of a fixed charge over 6 Park Road, Hythe Kent.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 17,870 13,120

Deferred
tax
£   
Balance at 1 June 2022 13,120
Provided during year 4,750
Balance at 31 May 2023 17,870

The above is in respect of the fair value adjustment regarding the Company investment property.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 ordinary £1 2 2

11. RESERVES
Fair
value
reserve
£   
At 1 June 2022 55,933
Transfer to Fair Value Reserve 20,250

At 31 May 2023 76,183

PARK ROAD DEVELOPMENTS (HYTHE) LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
PARK ROAD DEVELOPMENTS (HYTHE) LIMITED

The following reproduces the text of the report prepared for the director 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 May 2023 set out on pages one to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Higson & Co (Deal) Ltd
45 Queen Street
Deal
Kent
CT14 6EY


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