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REGISTERED NUMBER: 01167499 (England and Wales)










PARK ROW PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024






PARK ROW PROPERTIES LIMITED (REGISTERED NUMBER: 01167499)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Balance Sheet 1 to 2

Notes to the Financial Statements 3 to 6


PARK ROW PROPERTIES LIMITED (REGISTERED NUMBER: 01167499)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 2,720,000 2,550,000
2,720,000 2,550,000

CURRENT ASSETS
Debtors 6 39,114 1,347
Cash at bank 205,924 238,740
245,038 240,087
CREDITORS
Amounts falling due within one year 7 48,456 27,427
NET CURRENT ASSETS 196,582 212,660
TOTAL ASSETS LESS CURRENT LIABILITIES 2,916,582 2,762,660

PROVISIONS FOR LIABILITIES 155,749 121,103
NET ASSETS 2,760,833 2,641,557

CAPITAL AND RESERVES
Called up share capital 8 254 254
Share premium 64,376 64,376
Non-distributable reserves 9 1,274,891 1,139,537
Distributable reserves 1,421,312 1,437,390
SHAREHOLDERS' FUNDS 2,760,833 2,641,557

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

PARK ROW PROPERTIES LIMITED (REGISTERED NUMBER: 01167499)

BALANCE SHEET - continued
31ST MARCH 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th September 2024 and were signed on its behalf by:




J H Watson - Director



E L Watson - Director


PARK ROW PROPERTIES LIMITED (REGISTERED NUMBER: 01167499)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Park Row Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01167499

Registered office: 3365 Century Way
Thorpe Park
Leeds
LS15 8ZB

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 as modified by the revaluation of certain assets.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

At the time of signing these accounts, having considered the economic climate, the directors expectations and intentions for the next 12 months, and the availability of working capital, the directors are of the opinion that the company will remain viable for the foreseeable future and accordingly these financial statements have been prepared on the going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT. The policy adopted for the recognition of turnover is when the outcome of a transaction can be estimated reliably, turnover from the letting of properties is recognised by reference to the period of rent charged at the balance sheet date.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures and fittings- 25% on cost

Investment property
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.


PARK ROW PROPERTIES LIMITED (REGISTERED NUMBER: 01167499)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Financial instruments
The company only enters into transactions in ‘basic’ financial instruments which result in the recognition of assets and liabilities; these include trade and other debtors and creditors, bank balances, loans from banks and other third parties, and loans to related parties. These are recognised in the company’s balance sheet when it becomes party to the contractual provisions of the instrument.

Basic financial assets (other than those classified as payable within one year) are initially measured at cost and are subsequently carried at cost or amortised cost using the effective interest method, less any impairment losses. Basic financial assets classed as receivable within one year are not amortised.

Basic financial liabilities (other than those classified as payable within one year) are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Basic financial liabilities classed as payable within one year are not amortised.

Financial assets and liabilities are offset, with the net amount reported in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st April 2023
and 31st March 2024 1,257
DEPRECIATION
At 1st April 2023
and 31st March 2024 1,257
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 -

PARK ROW PROPERTIES LIMITED (REGISTERED NUMBER: 01167499)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023 2,550,000
Revaluations 170,000
At 31st March 2024 2,720,000
NET BOOK VALUE
At 31st March 2024 2,720,000
At 31st March 2023 2,550,000

The directors consider the value of investment properties included in the accounts to fairly represent the open market value at the balance sheet date.

The historic cost equivalent of investment properties included at fair value is £1,289,358 (2023: £1,289,358).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 32,585 -
Other debtors 6,529 1,347
39,114 1,347

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 17,841 983
Taxation and social security 8,151 9,830
Other creditors 22,464 16,614
48,456 27,427

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
122 'A' Ordinary £1 122 122
122 'B' Ordinary £1 122 122
10 'C' Ordinary £1 10 10
254 254

Ordinary shares rank pari passu except that different rates of dividend can be declared on different classes of share.

PARK ROW PROPERTIES LIMITED (REGISTERED NUMBER: 01167499)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


9. RESERVES
Non-distributable
reserves
£   
At 1st April 2023 1,139,537
Revaluation 170,000
Deferred tax transfer (34,646 )

At 31st March 2024 1,274,891