Registered number
13572746
PARKSIDE YOUTH CLUB LTD
Filleted Accounts
31 August 2023
PARKSIDE YOUTH CLUB LTD
Registered number: 13572746
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 512,000 -
Current assets
Cash at bank and in hand 16,998 233,000
Creditors: amounts falling due within one year 4 (1,500) -
Net current assets 15,498 233,000
Total assets less current liabilities 527,498 233,000
Creditors: amounts falling due after more than one year 5 (40,000) -
Net assets 487,498 233,000
Capital and reserves
Profit and loss account 487,498 233,000
Capital and reserves 487,498 233,000
The directors are 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 directors acknowledge their 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.
Abdul HALEEM
Director
Approved by the board on 17 July 2024
PARKSIDE YOUTH CLUB LTD
Notes to the Accounts
for the year ended 31 August 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 n/a over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
Additions 512,000
At 31 August 2023 512,000
Depreciation
At 31 August 2023 -
Net book value
At 31 August 2023 512,000
4 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 1,500 -
5 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 40,000 -
6 Other information
PARKSIDE YOUTH CLUB LTD is a private company limited by shares and incorporated in England. Its registered office is:
3 Howard Street
Bradford
BD5 0BP
Winding up or dissolution of the charity
The liability of the members is limited to a sum not exceeding £1 each,
in the event of the charity being wound up.
If upon winding up or dissolution there remains any assets, after the satisfaction of all debts,
the assets shall be transferred to some other charitable body or bodies having similar objectives.
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