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Registered Number: 14082746
England and Wales

 

 

 

PARKCROFT MANAGEMENT LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
Director Mr C S Buckley
Registered Number 14082746
Registered Office UWM House
6 Fusion Court
Leeds
West Yorkshire
LS25 2GH
Accountants UWM Accountants Limited
UWM House
6 Fusion Court
Leeds
LS25 2GH
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,877,674    364,612 
1,877,674    364,612 
Current assets      
Stocks 4   5,000 
Debtors 5 51,237    10,070 
Cash at bank and in hand 5,028    647,506 
56,265    662,576 
Creditors: amount falling due within one year 6 (1,012,403)   (1,025,172)
Net current assets (956,138)   (362,596)
 
Total assets less current liabilities 921,536    2,016 
Creditors: amount falling due after more than one year 7 (918,000)  
Provisions for liabilities 8 (372)   (496)
Net assets 3,164    1,520 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 3,163    1,519 
Shareholders' funds 3,164    1,520 
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 19 August 2024 and were signed by:


-------------------------------
Mr C S Buckley
Director
2
General Information
Parkcroft Management Ltd is a private company, limited by shares, registered in England and Wales, registration number 14082746, registration address UWM House, 6 Fusion Court, Leeds, West Yorkshire, LS25 2GH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery etc 25% RB
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Investment properties   Plant and machinery etc   Total
  £   £   £
At 01 June 2023 362,000    3,482    365,482 
Additions 1,513,715      1,513,715 
Disposals    
At 31 May 2024 1,875,715    3,482    1,879,197 
Depreciation
At 01 June 2023   870    870 
Charge for year   653    653 
On disposals    
At 31 May 2024   1,523    1,523 
Net book values
Closing balance as at 31 May 2024 1,875,715    1,959    1,877,674 
Opening balance as at 01 June 2023 362,000    2,612    364,612 


4.

Stocks

2024
£
  2023
£
Stocks   5,000 
  5,000 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 5,738    4,290 
Other Debtors 45,499    5,780 
51,237    10,070 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 4,883    10 
Taxation and Social Security 822    2,363 
Other Creditors 1,006,698    1,022,799 
1,012,403    1,025,172 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 918,000   
918,000   

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 372    496 
372    496 

3