Registered number
05586891
PARKVIEW HOMES (UK) LIMITED
Filleted Accounts
31 October 2023
PARKVIEW HOMES (UK) LIMITED
Registered number: 05586891
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 283,160 283,160
Investments 4 8,000 8,000
291,160 291,160
Current assets
Stocks 361,996 361,648
Debtors 5 12,315 1,450
Cash at bank and in hand 57,755 71,907
432,066 435,005
Creditors: amounts falling due within one year 6 (17,167) (8,140)
Net current assets 414,899 426,865
Total assets less current liabilities 706,059 718,025
Creditors: amounts falling due after more than one year 7 (526,445) (526,334)
Net assets 179,614 191,691
Capital and reserves
Called up share capital 100 100
Profit and loss account 179,514 191,591
Shareholder's funds 179,614 191,691
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jewan Parkash Singh Deepak
Director
Approved by the board on 30 July 2024
PARKVIEW HOMES (UK) LIMITED
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings NIL
Investment property
Investment property is revalued annually for the fair value and the surplus or deficit is transferred
to profit and loss account. No depreciation is provided in respect of investment property.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 November 2022 283,160
At 31 October 2023 283,160
Depreciation
At 31 October 2023 -
Net book value
At 31 October 2023 283,160
At 31 October 2022 283,160
The director considers, as at the balance sheet date, that the fair vlaue of the investment property is £283,160.
4 Investments
Other
investments
£
Cost
At 1 November 2022 8,000
At 31 October 2023 8,000
5 Debtors 2023 2022
£ £
Other debtors 12,315 1,450
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 5
Trade creditors 5,788 5,888
Other creditors 11,379 2,247
17,167 8,140
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 526,224 526,224
Other creditors 221 110
526,445 526,334
The bank loans are secured against the freehold property and other assets owned by the company.
8 Related party transactions 2023 2022
£ £
Mr Jewan Parkash Singh Deepak
Director
During the period the company paid dividends of: 15,000 22,750
- -
9 Controlling party
The company is under the control of its director, Mr Jewan Parkash Singh Deepak, by virtue of his shareholding in the issued share capital of the company.
10 Other information
PARKVIEW HOMES (UK) LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
65 Delamere Road
Hayes
Middlesex
UB4 0NN
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