Registered number: OC316772 | ||||||||
FOR THE YEAR ENDED 31/10/2023 | ||||||||
Prepared By: | ||||||||
Staffer Mayled & Co Ltd | ||||||||
46-48 Station Road | ||||||||
Cardiff | ||||||||
CF14 5LU |
Parkway Gould LLP | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Report of the Members | - | |||||||
Report of the Accountants | - | |||||||
Profit and Loss Account | - | |||||||
Balance Sheet | 3 | |||||||
Notes to the Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading and Profit and Loss Account | - | |||||||
Profit and Loss Account Summaries | - | |||||||
Capital Accounts | - | |||||||
Current Accounts | - | |||||||
Parkway Gould LLP | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/10/2023 | ||||||||
DESIGNATED MEMBERS | ||||||||
REGISTERED OFFICE | ||||||||
COMPANY NUMBER | ||||||||
ACCOUNTANTS | ||||||||
Staffer Mayled & Co Ltd | ||||||||
46-48 Station Road | ||||||||
Cardiff | ||||||||
CF14 5LU |
Parkway Gould LLP | ||||||||
BALANCE SHEET AT | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 | |||||||||
CURRENT ASSETS | ||||||||||
Debtors | 3 | |||||||||
Cash at bank and in hand | ||||||||||
102,645 | 192,975 | |||||||||
CREDITORS: Amounts falling due within one year | ||||||||||
NET CURRENT LIABILITIES | ( | (261,007) | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than oneyear | 5 | 1,064,963 | 1,314,946 | |||||||
NET ASSETS ATTRIBUTABLE TO MEMBERS | 1,493,187 | 1,336,108 | ||||||||
LOANS AND OTHER DEBTS DUE TO MEMBERS | 1,493,187 | 1,336,108 | ||||||||
MEMBERS ' OTHER INTERESTS | ||||||||||
1,493,187 | 1,336,108 | |||||||||
TOTAL MEMBERS' INTERESTS | ||||||||||
Loans and other debts due to members | 1,493,187 | 1,336,108 | ||||||||
1,493,187 | 1,336,108 | |||||||||
Approved by the members on | ||||||||||
............................. | ||||||||||
Designated Member | ||||||||||
Parkway Gould LLP | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/10/2023 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. |
1b. Cash Flow Statement | ||||||||
1c. Depreciation | ||||||||
Land And Buildings | reducing balance 2% | |||||||
Plant and Machinery | reducing balance 15% |
2. TANGIBLE FIXED ASSETS | |||||||||
Land And | Plant and | ||||||||
Buildings | Machinery | Total | |||||||
£ | £ | £ | |||||||
Cost | |||||||||
At 01/11/2022 | 3,937,012 | 924,889 | 4,861,901 | ||||||
At 31/10/2023 | 3,937,012 | 924,889 | 4,861,901 | ||||||
Depreciation | |||||||||
At 01/11/2022 | 1,120,176 | 829,664 | 1,949,840 | ||||||
For the year | 78,691 | 14,285 | 92,976 | ||||||
At 31/10/2023 | 1,198,867 | 843,949 | 2,042,816 | ||||||
Net Book Amounts | |||||||||
At 31/10/2023 | 2,819,085 | ||||||||
At 31/10/2022 | 2,912,061 | ||||||||
The aggregate amount of finance costs capitalised and included in the production cost of assets is £161,661 (October 2022 - £161,661) | |||||||||
Parkway Gould LLP | ||||||||
3. DEBTORS | 2023 | 2022 | ||||||
£ | £ | |||||||
Amounts falling due within one year: | ||||||||
Trade debtors | - | 73,143 | ||||||
VAT | 6,220 | 13,155 | ||||||
6,220 | 86,298 | |||||||
4. EMPLOYEES | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | - | |||||
5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Bank loans and overdrafts | 1,064,963 | 1,314,946 | ||||||
1,064,963 | 1,314,946 | |||||||
Other creditors include the fair value of the interest rate swap as at 31 October 2023. The liability is £13,587.85 (October 2022 - £42,067.60). Previously, the liability had been disclosed as a note in the accounts. FRS 102 1A requires the liability to be included as a balance sheet item. A loan for £30,566 was entered into in July 2019, repayments will be at £626.27 for 60 months. A loan for £270,000 was entered into in January 2022, repayments will be at £2,878.67 for 120 months. | ||||||||
6. SECURED CREDITORS | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Amount of bank loans and overdrafts which are secured | 1,140,087 | 1,334,746 | ||||||
Parkway Gould LLP | ||||||||
7. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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8. FINANCIAL INSTRUMENTS | ||||||||
An interest rate swap was entered into on 1st January 2008 with Royal Bank of Scotland. The swap expires on 1 January 2029. The purpose of the instrument is to manage the interest rate exposure on a loan of £3,750,000 which had a floating rate of 1.25% above the banks base rate. | ||||||||
The instrument fixed the exposure at 5.04% for the period of 20 years. | ||||||||
The fair value of the interest rate swap at as at 31 October 2023 was a liability of £13,587.85 (October 2022 - £42,067.60) |