Registered number
00961296
Parchment (Oxford) Ltd
Unaudited Filleted Accounts
31 March 2024
Parchment (Oxford) Ltd
Registered number: 00961296
Balance Sheet
as at 31 March 2024
Notes 2024 2022
£ £
Fixed assets
Tangible assets 3 500,000 500,000
Current assets
Debtors 4 (1,647) (1,895)
Cash at bank and in hand 89,516 118,671
87,869 116,776
Creditors: amounts falling due within one year 5 (2,452) (2,292)
Net current assets 85,417 114,484
Net assets 585,417 614,484
Capital and reserves
Called up share capital 8,165 8,165
Share premium 2,336 2,336
Revaluation reserve 6 213,176 213,176
Profit and loss account 361,740 390,807
Shareholders' funds 585,417 614,484
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs M J Tomes
Director
Approved by the board on 5 September 2024
Parchment (Oxford) Ltd
Notes to the Accounts
for the period from 1 December 2022 to 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising fro changes in fair value is recognised in profit or loss..
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 December 2022 500,000
At 31 March 2024 500,000
Depreciation
At 31 March 2024 -
Net book value
At 31 March 2024 500,000
At 30 November 2022 500,000
4 Debtors 2024 2022
£ £
Trade debtors (1,647) (1,895)
5 Creditors: amounts falling due within one year 2024 2022
£ £
Trade creditors 308 (243)
Taxation and social security costs 994 1,535
Other creditors 1,150 1,000
2,452 2,292
6 Revaluation reserve 2024 2022
£ £
At 1 December 2022 213,176 213,176
At 31 March 2024 213,176 213,176
7 Other information
Parchment (Oxford) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Printworks
Crescent Road
Cowley
Oxford
OX4 2BP
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