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REGISTERED NUMBER: 02819969 (England and Wales)
















Parc Properties Management Limited

Unaudited Financial Statements

for the Year Ended 31st December 2023






Parc Properties Management Limited (Registered number: 02819969)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Parc Properties Management Limited

Company Information
for the Year Ended 31st December 2023







Directors: Mr. H Vahabi
Mr. M P C Plunkett
Mr P G Plunkett





Secretary: Mrs G M Plunkett





Registered office: 8 Cumbrian House
217 Marsh Wall
London
London
London
E14 9FJ





Registered number: 02819969 (England and Wales)





Accountants: Wilson Stevens
Accountants
4th Floor
100 Fenchurch Street
London
EC3M 5JD

Parc Properties Management Limited (Registered number: 02819969)

Statement of Financial Position
31st December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 9,596 10,455

Current assets
Debtors 5 214,911 277,758
Cash at bank and in hand 42,223 19,805
257,134 297,563
Creditors
Amounts falling due within one year 6 256,978 295,468
Net current assets 156 2,095
Total assets less current liabilities 9,752 12,550

Provisions for liabilities 2,399 2,614
Net assets 7,353 9,936

Capital and reserves
Called up share capital 300 300
Retained earnings 7,053 9,636
7,353 9,936

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The 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 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 22nd August 2024 and were signed on its behalf by:



Mr P G Plunkett - Director


Parc Properties Management Limited (Registered number: 02819969)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. Statutory information

Parc Properties Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 33% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Parc Properties Management Limited (Registered number: 02819969)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

3. Employees and directors

The average number of employees during the year was 9 (2022 - 9 ) .

4. Tangible fixed assets
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Cost
At 1st January 2023 41,774 6,098 28,082 75,954
Additions - - 2,429 2,429
At 31st December 2023 41,774 6,098 30,511 78,383
Depreciation
At 1st January 2023 40,922 6,098 18,479 65,499
Charge for year 280 - 3,008 3,288
At 31st December 2023 41,202 6,098 21,487 68,787
Net book value
At 31st December 2023 572 - 9,024 9,596
At 31st December 2022 852 - 9,603 10,455

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 185,354 261,938
Other debtors 29,557 15,820
214,911 277,758

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 33,945 27,174
Taxation and social security 114,822 130,774
Other creditors 108,211 137,520
256,978 295,468

7. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 49,788 48,408
Between one and five years 170,814 176,619
In more than five years 71,726 114,226
292,328 339,253