Year Ended
Registration number:
Parade Park Hotel Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
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Accountants' Report |
Parade Park Hotel Limited
Balance Sheet
31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current liabilities |
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( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Shareholders' deficit |
( |
( |
For the financial year ending 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:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 14144262
Parade Park Hotel Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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' and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of Section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in pounds sterling which is the functional currency of the company.
Monetary amounts in these financial statements are rounded to the nearest pound.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
Going concern
At the balance sheet date the company had net liabilities of £62,788 (2023 - £43,315).
The company continues to operate as a going concern by virtue of the continued support of the shareholders who have extended loans to the company to fund acquisitions in the period and working capital.
Investments
Investments in subsidiaries are carried at cost less impairment.
Parade Park Hotel Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2024
Financial instruments
Classification
• Amounts due from group undertakings,
• Cash and bank balances.
• Loans from connected entities
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Critical judgement and estimation uncertainty
In applying the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
In the opinion of the Directors, at a company level there are no areas where there exists any key areas of judgement or estimation uncertainty.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Parade Park Hotel Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2024
Investments |
2024 |
2023 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 April 2023 and 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Subsidiary undertakings |
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England and Wales |
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England and Wales |
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The registered office of both Richmond Company 222 Limited and the Kennard (Bath) Limited is 2nd Floor, 10 Bridge Street, Bath, Somerset, United Kingdom, BA2 4AS.
The principal operation of both of these entities is that of a hotelier.
The year end of all group undertakings is 31 March.
Parade Park Hotel Limited
Notes to the Unaudited Financial Statements
Year Ended 31 March 2024
Debtors |
2024 |
2023 |
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Amounts owed by group undertakings |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
31 March 2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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- |
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Amounts due to group undertakings |
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Other creditors |
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- |
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Accrued expenses |
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Loans and borrowings |
2024 |
2023 |
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Current loans and borrowings |
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Other borrowings |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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Ordinary shares of £0.01 each |
10,000 |
100 |
10,000 |
100 |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Parade Park Hotel Limited
Year Ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Parade Park Hotel Limited for the year ended 31 March 2024 as set out on pages 1 to 5 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Parade Park Hotel Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Parade Park Hotel Limited and state those matters that we have agreed to state to the Board of Directors of Parade Park Hotel Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Parade Park Hotel Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Parade Park Hotel Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Parade Park Hotel Limited. You consider that Parade Park Hotel Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Parade Park Hotel Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Tregolls Road
Truro
Cornwall
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