REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Parkside Corporation Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Parkside Corporation Limited |
Parkside Corporation Limited (Registered number: 03379396) |
Contents of the Financial Statements |
for the year ended 31 March 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Parkside Corporation Limited |
Company Information |
for the year ended 31 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2 President Buildings |
Savile Street East |
Sheffield |
South Yorkshire |
S4 7UQ |
Parkside Corporation Limited (Registered number: 03379396) |
Statement of Financial Position |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
Parkside Corporation Limited (Registered number: 03379396) |
Statement of Financial Position - continued |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Revaluation reserve | 11 | ( |
) |
Retained earnings |
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. |
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 Board of Directors and authorised for issue on |
Parkside Corporation Limited (Registered number: 03379396) |
Notes to the Financial Statements |
for the year ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Parkside Corporation Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue 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 |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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 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. |
Parkside Corporation Limited (Registered number: 03379396) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
and |
fittings |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2023 |
Disposals | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Parkside Corporation Limited (Registered number: 03379396) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2019 | 209,478 |
Valuation in 2021 | 570,000 |
Valuation in 2023 | 41,027 |
Cost | 3,904,495 |
4,725,000 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Prepayments and accrued income |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Social security and other taxes |
Directors' current accounts | 784,714 | 713,282 |
Accruals and deferred income |
Parkside Corporation Limited (Registered number: 03379396) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Bank loans more 5 yr by instal |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 2,883,941 | - |
Parkside Corporation Limited (Registered number: 03379396) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank Loans | 2,883,941 | 2,572,725 |
At 31 March 2024, Parkside Corporation Limited has a bank loan of £249,289 outstanding (2023: £245,000), which is secured by way of a fixed charge over the freehold property known as 1 Hazel Lodge, High Street, Rawcliffe, Goole, DN14 8EU which was transferred out of parent title YEA58671 dated 1 September 2022. |
At 31 March 2024, Parkside Corporation Limited has a bank loan of £220,418 outstanding (2023: £217,180), which is secured by way of a fixed charge over the freehold property known as 2 Hazel Lodge, High Street, Rawcliffe, Goole, DN14 8EU and registered at HM Land Registry with title number YEA103951. |
At 31 March 2024, Parkside Corporation Limited has a bank loan of £1,522.714 outstanding (2023: £1,522,545), which is secured by way of a fixed charge over the freehold properties known as: 1 The Coach House, Cross Street, Crowle, Scunthorpe, DN17 4LH registered at HM Land Registry with title number HS322357. 2 The Coach House, Cross Street, Crowle, Scunthorpe, DN17 4LH registered at HM Land Registry with title number HS326135. 1 Weeland Villas, Snaith, Goole, DN14 PJU with title number YEA20651. 48 Queens Drive, Crowle, Scunthorpe, DN17 4DL with title number HS320521. 50 Queens Drive, Crowle, Scunthorpe, DN17 4DL with title number HS319518. 11A, 15, 15A, 17, 17A Cross Street, Crowle, Scunthorpe, DN17 4LJ with title number HS148571. 1 Court Road, Snaith, Goole, DN14 9JL with title number HS265253. 24 Sotheron Street, Goole, DN14 5EY with title number YEA3451. This loan is also secured by way of a floating charge over the assets of the company. |
At 31 March 2024, Parkside Corporation Limited has a bank loan of £592,490 (2023: £588,000), which is secured by way of a fixed charge over the freehold properties known as: 8 & 10 Queen Street, Thorne, Doncaster, DN8 5AA with title number SYK377688. 12, 14, 16 & 18 Queen Street, Thorne, Doncaster, DN8 5AA with title number SYK550346. Flat 1, 2 & 3, 86 Spring Gardens, Doncaster, DN1 3DJ with title number SYK27992. This loan is also secured by way of a floating charge over the assets of the company. |
At 31 March 2024, Parkside Corporation Limited has a bank loan of £299,029 (2023: £0), which is secured by way of a fixed charge over the freehold property known as 3 Hazel Lodge, High Street, Rawcliffe, DN14 8EU with title number YEA105293. This loan is also secured by way of a floating charge over the assets of the company. |
11. | RESERVES |
Revaluation |
reserve |
£ |
Fair value reserve | (770,104 | ) |
At 31 March 2024 | ( |
) |