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Registered Number: 03515888
England and Wales

 

 

 

PARKROSS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3   288 
Investments 4 100,000    100,000 
100,000    100,288 
Current assets      
Debtors 5 15,000    30,000 
Cash at bank and in hand 303,252    226,705 
318,252    256,705 
Creditors: amount falling due within one year 6 (2,229)   (2,125)
Net current assets 316,023    254,580 
 
Total assets less current liabilities 416,023    354,868 
Net assets 416,023    354,868 
 

Capital and reserves
     
Called up share capital 7 340,000    340,000 
Share premium account 8 85,000    85,000 
Profit and loss account (8,977)   (70,132)
Shareholders' funds 416,023    354,868 
 


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

Directors' 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 directors acknowledge 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 08 August 2024 and were signed on its behalf by:


-------------------------------
Mr C S Wilson
Director
1
General Information
Parkross Limited is a private company, limited by shares, registered in England and Wales, registration number 03515888, registration address Sunnyridge, 14 Orchard Close, Westfield, Radstock, BA3 3RF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax. 
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.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
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 25% Straight Line
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. 

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so asto obtain benefits from its activities.
 
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. 

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
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 Plant and Machinery   Total
  £   £
At 01 April 2023 18,768    18,768 
Additions  
Disposals  
At 31 March 2024 18,768    18,768 
Depreciation
At 01 April 2023 18,480    18,480 
Charge for year 288    288 
On disposals  
At 31 March 2024 18,768    18,768 
Net book values
Closing balance as at 31 March 2024  
Opening balance as at 01 April 2023 288    288 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 April 2023 100,000    100,000 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 March 2024 100,000    100,000 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Prepayments & Accrued Income 15,000    30,000 
15,000    30,000 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Accrued Expenses 2,229    2,125 
2,229    2,125 

7.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
17,000 Class B shares of £1.00 each 17,000    17,000 
289,000 Class C shares of £1.00 each 289,000    289,000 
17,000 Class O shares of £1.00 each 17,000    17,000 
17,000 Class P shares of £1.00 each 17,000    17,000 
340,000    340,000 

8.

Share premium account

2024
£
  2023
£
Equity Share Premium b/fwd 85,000    85,000 
85,000    85,000 

2