Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 NI630591 Mr John Stewart Mr James Patterson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI630591 2022-12-31 NI630591 2023-12-31 NI630591 2023-01-01 2023-12-31 NI630591 frs-core:CurrentFinancialInstruments 2023-12-31 NI630591 frs-core:Non-currentFinancialInstruments 2023-12-31 NI630591 frs-core:ShareCapital 2023-12-31 NI630591 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI630591 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI630591 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 NI630591 frs-bus:SmallEntities 2023-01-01 2023-12-31 NI630591 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 NI630591 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI630591 frs-core:UnlistedNon-exchangeTraded 2023-12-31 NI630591 frs-core:UnlistedNon-exchangeTraded 2022-12-31 NI630591 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2022-12-31 NI630591 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-12-31 NI630591 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2022-12-31 NI630591 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 NI630591 frs-bus:Director1 2023-01-01 2023-12-31 NI630591 frs-bus:Director2 2023-01-01 2023-12-31 NI630591 frs-core:CurrentFinancialInstruments 1 2023-12-31 NI630591 frs-countries:NorthernIreland 2023-01-01 2023-12-31 NI630591 2021-12-31 NI630591 2022-12-31 NI630591 2022-01-01 2022-12-31 NI630591 frs-core:CurrentFinancialInstruments 2022-12-31 NI630591 frs-core:Non-currentFinancialInstruments 2022-12-31 NI630591 frs-core:ShareCapital 2022-12-31 NI630591 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 NI630591 frs-core:CurrentFinancialInstruments 1 2022-12-31
Registered number: NI630591
Park Road Developments (N.I.) Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
RWCA LTD
158 Upper Newtownards Road
Belfast
Co Antrim
BT4 3EQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: NI630591
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investments 4 6 6
6 6
CURRENT ASSETS
Stocks 5 2,019,488 1,414,988
Debtors 6 1,391,258 1,391,258
Cash at bank and in hand 5,812 8,140
3,416,558 2,814,386
Creditors: Amounts Falling Due Within One Year 7 (3,673,174 ) (3,062,674 )
NET CURRENT ASSETS (LIABILITIES) (256,616 ) (248,288 )
TOTAL ASSETS LESS CURRENT LIABILITIES (256,610 ) (248,282 )
Creditors: Amounts Falling Due After More Than One Year 8 (25,797 ) (35,674 )
NET LIABILITIES (282,407 ) (283,956 )
CAPITAL AND RESERVES
Called up share capital 9 6 6
Profit and Loss Account (282,413 ) (283,962 )
SHAREHOLDERS' FUNDS (282,407) (283,956)
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Stewart
Director
27/04/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Park Road Developments (N.I.) Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI630591 . The registered office is 158 Upper Newtownards Road, Belfast, BT4 3EQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Going Concern Disclosure
At the year end the Balance Sheet was overdrawn by £282,407 (2022:£283,956). However, creditors included £3,673,174 (2022: £3,062,674) due to associated companies who will not seek repayment until such times as funds allow.
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current  tax for the year is recognised in profit or loss.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 2 2
2 2
4. Investments
Unlisted
£
Cost
As at 1 January 2023 6
As at 31 December 2023 6
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 6
As at 1 January 2023 6
Page 3
Page 4
5. Stocks
2023 2022
£ £
Stock 2,019,488 1,414,988
6. Debtors
2023 2022
£ £
Due within one year
Other debtors 874,592 874,592
Amounts owed by group undertakings 516,666 516,666
1,391,258 1,391,258
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other creditors 687,500 687,500
Other creditors (1) 821,549 821,549
Amounts owed to associates 2,164,125 1,553,625
3,673,174 3,062,674
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 25,797 35,674
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 6 6
10. Related Party Transactions
'Other debtors' of £874,592 includes monies owed by companies related to the directors and shareholders.
'Amounts owed by group undertakings' relates to the £516,666 owed by Sealstown Development Limited, for the site transferred to it during the previous accounting period.
All balances noted as 'Other creditors' and 'Amounts owed to associates' refer to various companies related to the directors and shareholders. None of these loans, which are interest free, will be repaid until the company is in position to do so.
Page 4