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 11063036 Mr Glenn Codd Mr Jamie Clarke Mr Glenn Codd iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11063036 2022-12-31 11063036 2023-12-31 11063036 2023-01-01 2023-12-31 11063036 frs-core:CurrentFinancialInstruments 2023-12-31 11063036 frs-core:Non-currentFinancialInstruments 2023-12-31 11063036 frs-core:ShareCapital 2023-12-31 11063036 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11063036 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11063036 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11063036 frs-bus:SmallEntities 2023-01-01 2023-12-31 11063036 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11063036 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11063036 frs-bus:Director1 2023-01-01 2023-12-31 11063036 frs-bus:Director2 2023-01-01 2023-12-31 11063036 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 11063036 frs-countries:EnglandWales 2023-01-01 2023-12-31 11063036 2021-12-31 11063036 2022-12-31 11063036 2022-01-01 2022-12-31 11063036 frs-core:CurrentFinancialInstruments 2022-12-31 11063036 frs-core:Non-currentFinancialInstruments 2022-12-31 11063036 frs-core:ShareCapital 2022-12-31 11063036 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 11063036
Park House Farm Developments (Kent) Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Kent Coast Accounts Ltd
AAT Licenced Accountants
39 Brooke Avenue
Margate
Kent
CT9 5NG
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 11063036
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 1,309,046 727,194
Cash at bank and in hand 81,795 579
1,390,841 727,773
Creditors: Amounts Falling Due Within One Year 5 (1,761 ) (482 )
NET CURRENT ASSETS (LIABILITIES) 1,389,080 727,291
TOTAL ASSETS LESS CURRENT LIABILITIES 1,389,080 727,291
Creditors: Amounts Falling Due After More Than One Year 6 (1,187,806 ) (525,283 )
NET ASSETS 201,274 202,008
CAPITAL AND RESERVES
Called up share capital 7 4 4
Profit and Loss Account 201,270 202,004
SHAREHOLDERS' FUNDS 201,274 202,008
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 Glenn Codd
Director
25th September 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Park House Farm Developments (Kent) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11063036 . The registered office is 16 Collard Road, Willesborough, Ashford, Kent, TN24 0JR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
a) Development of residential properties
Sales of investment properties, land and property developments are recognised in respect of contracts exchanged during the year, provided that no material conditions remain outstanding at the balance sheet date, and all conditions are fully satisfied by the date on which the accounts are signed. Full provision is made for all known or expected losses on completing a development once such losses are foreseen. 
2.4. Stocks and Work in Progress
Land and property developments are recorded at the lower of cost or net realisable value. The Company capitalises interest on specific finance raised once development commences and until practical completion, based on the total actual finance cost incurred on the borrowings during the year. 
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Stocks
2023 2022
£ £
Work in progress 1,309,046 727,194
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other creditors 500 450
Taxation and social security 1,261 32
1,761 482
Page 2
Page 3
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 662,523 -
Other creditors 130,000 130,000
Directors loan account 395,283 395,283
1,187,806 525,283
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 4 4
Page 3