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REGISTERED NUMBER: 06325816 (England and Wales)



Financial Statements for the Year Ended 29 March 2023

for

Parvy Homes Limited

Parvy Homes Limited (Registered number: 06325816)

Contents of the Financial Statements
for the Year Ended 29 March 2023










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 8


Parvy Homes Limited

Company Information
for the Year Ended 29 March 2023







DIRECTORS: Mrs R D Luchmun
P Luchmun





SECRETARY: P Luchmun





REGISTERED OFFICE: 22-24 Swanage Waye
Hayes
Middlesex
UB4 0NY





REGISTERED NUMBER: 06325816 (England and Wales)





ACCOUNTANTS: BBK Partnership
Chartered Accountants
& Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ

Parvy Homes Limited (Registered number: 06325816)

Statement of Financial Position
29 March 2023

29.3.23 29.3.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 66,399 32,159

CURRENT ASSETS
Debtors 5 12,857 4,030
Cash at bank 90,573 77,449
103,430 81,479
CREDITORS
Amounts falling due within one year 6 (99,988 ) (70,313 )
NET CURRENT ASSETS 3,442 11,166
TOTAL ASSETS LESS CURRENT
LIABILITIES

69,841

43,325

CREDITORS
Amounts falling due after more than one year 7 (69,698 ) (41,585 )
NET ASSETS 143 1,740

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 43 1,640
SHAREHOLDERS' FUNDS 143 1,740

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 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.

Parvy Homes Limited (Registered number: 06325816)

Statement of Financial Position - continued
29 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 14 March 2024 and were signed on its behalf by:




P Luchmun - Director



Mrs R D Luchmun - Director


Parvy Homes Limited (Registered number: 06325816)

Notes to the Financial Statements
for the Year Ended 29 March 2023


1. STATUTORY INFORMATION

Parvy Homes 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 5% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

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.

Parvy Homes Limited (Registered number: 06325816)

Notes to the Financial Statements - continued
for the Year Ended 29 March 2023


2. ACCOUNTING POLICIES - continued

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2022 - 41 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 30 March 2022 9,500 100,104 14,390 - 123,994
Additions - - 59,150 476 59,626
Disposals - - (14,390 ) - (14,390 )
At 29 March 2023 9,500 100,104 59,150 476 169,230
DEPRECIATION
At 30 March 2022 - 88,696 3,139 - 91,835
Charge for year 475 1,711 11,830 119 14,135
Eliminated on disposal - - (3,139 ) - (3,139 )
At 29 March 2023 475 90,407 11,830 119 102,831
NET BOOK VALUE
At 29 March 2023 9,025 9,697 47,320 357 66,399
At 29 March 2022 9,500 11,408 11,251 - 32,159

Parvy Homes Limited (Registered number: 06325816)

Notes to the Financial Statements - continued
for the Year Ended 29 March 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 59,150
At 29 March 2023 59,150
DEPRECIATION
Charge for year 11,830
At 29 March 2023 11,830
NET BOOK VALUE
At 29 March 2023 47,320

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.3.23 29.3.22
£    £   
Directors' current accounts 12,857 4,030

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.3.23 29.3.22
£    £   
Bank loans and overdrafts 7,107 3,900
Hire purchase contracts 5,837 -
Tax 8,064 44,380
Social security and other taxes 13,006 20,476
Pension Liability 4,003 4,304
Net wages 1 253
Inter company - JPML 61,970 (9,000 )
Accruals and deferred income - 6,000
99,988 70,313

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.3.23 29.3.22
£    £   
Bank loans - 2-5 years 31,665 41,585
Hire purchase contracts 38,033 -
69,698 41,585

Parvy Homes Limited (Registered number: 06325816)

Notes to the Financial Statements - continued
for the Year Ended 29 March 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

29.3.23 29.3.22
£    £   
Hire purchase contracts 43,870 -

The hire purchase debt is secured on the motor vehicle as shown in the note 10and 11.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.3.23 29.3.22
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 30 March 2022 1,640
Profit for the year 91,203
Dividends (92,800 )
At 29 March 2023 43

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 March 2023 and 29 March 2022:

29.3.23 29.3.22
£    £   
Mrs R D Luchmun
Balance outstanding at start of year 1,209 -
Amounts advanced 51,721 51,209
Amounts repaid (46,400 ) (50,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,530 1,209

Parvy Homes Limited (Registered number: 06325816)

Notes to the Financial Statements - continued
for the Year Ended 29 March 2023


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

P Luchmun
Balance outstanding at start of year 2,820 217
Amounts advanced 49,907 52,603
Amounts repaid (46,400 ) (50,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,327 2,820

The outstanding amount was fully repaid within 9 months of the reporting period..