Acorah Software Products - Accounts Production 15.0.600 false true true 30 November 2022 1 December 2021 false 1 December 2022 31 December 2023 31 December 2023 11043352 Mr Arkadii KULKO iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11043352 2022-11-30 11043352 2023-12-31 11043352 2022-12-01 2023-12-31 11043352 frs-core:CurrentFinancialInstruments 2023-12-31 11043352 frs-core:ShareCapital 2023-12-31 11043352 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11043352 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-12-31 11043352 frs-bus:FilletedAccounts 2022-12-01 2023-12-31 11043352 frs-bus:SmallEntities 2022-12-01 2023-12-31 11043352 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-12-31 11043352 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-12-31 11043352 frs-bus:Director1 2022-12-01 2023-12-31 11043352 frs-countries:EnglandWales 2022-12-01 2023-12-31 11043352 2021-11-30 11043352 2022-11-30 11043352 2021-12-01 2022-11-30 11043352 frs-core:CurrentFinancialInstruments 2022-11-30 11043352 frs-core:ShareCapital 2022-11-30 11043352 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 11043352
PARKSIDE EUROPEAN LTD
Unaudited Financial Statements
For the Period 1 December 2022 to 31 December 2023
ACTS Global Ltd
3rd Floor, Norvin House
45-55 Commercial Street
London
E1 6BD
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 11043352
31 December 2023 30 November 2022
Notes
FIXED ASSETS
Investment Properties 4 437,800 -
437,800 -
CURRENT ASSETS
Debtors 5 243,395 275,924
Cash at bank and in hand 24,311 361,525
267,706 637,449
Creditors: Amounts Falling Due Within One Year 6 (560,428 ) (485,427 )
NET CURRENT ASSETS (LIABILITIES) (292,722 ) 152,022
TOTAL ASSETS LESS CURRENT LIABILITIES 145,078 152,022
NET ASSETS 145,078 152,022
CAPITAL AND RESERVES
Called up share capital 7 112 112
Profit and Loss Account 144,966 151,910
SHAREHOLDERS' FUNDS 145,078 152,022
For the period 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.
The financial statements were approved and signed by the director and authorised for issue on 4 October 2024.
Mr Arkadii KULKO
Director
4th October 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
PARKSIDE EUROPEAN LTD is a private company, limited by shares, incorporated in England & Wales, registered number 11043352 . The registered office is 3rd Floor Norvin House, 45-55 Commercial Street, London , E1 6BD.
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.
The financial statements are prepared in euro, 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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
2.2. Going Concern Disclosure
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover represents amounts receivable for sales of natural bitumen and kitchen furniture.
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Financial Instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
2.6. Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
3. Average Number of Employees
Average number of employees, including directors, during the period was: NIL (2022: NIL)
- -
Page 2
Page 3
4. Investment Property
31 December 2023
Fair Value
As at 1 December 2022 -
Additions 437,800
As at 31 December 2023 437,800
5. Debtors
31 December 2023 30 November 2022
Due within one year
Trade debtors 199,426 244,768
Prepayments and accrued income 6,075 -
Other debtors 37,782 31,044
Called up share capital not paid 112 112
243,395 275,924
6. Creditors: Amounts Falling Due Within One Year
31 December 2023 30 November 2022
Trade creditors 79,317 79,316
Other loans 133,210 133,210
Other creditors 347,901 272,901
560,428 485,427
7. Share Capital
31 December 2023 30 November 2022
Called Up Share Capital not Paid 112 112
Amount of Allotted, Called Up Share Capital 112 112
100 Ordinary shares at £1 each
Page 3