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REGISTERED NUMBER: 12443812 (England and Wales)














Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Park Lane Associates Limited

Park Lane Associates Limited (Registered number: 12443812)

Contents of the Financial Statements
for the Year Ended 29 February 2024










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 7


Park Lane Associates Limited

Company Information
for the Year Ended 29 February 2024







Director: Z Darr





Registered office: 3 Monica House
St. Augustines Road
Wisbech
Cambs
PE13 3AD





Business address: 3 Nottingham Way
Peterborough
Cambridgeshire
PE1 4NF





Registered number: 12443812 (England and Wales)





Accountants: Moore Thompson
Monica House
St Augustines Road
Wisbech
Cambridgeshire
PE13 3AD

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Park Lane Associates Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Park Lane Associates Limited for the year ended 29 February 2024 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Park Lane Associates Limited in accordance with the terms of our engagement letter dated 14 May 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Park Lane Associates Limited and state those matters that we have agreed to state to the director of Park Lane Associates Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Park Lane Associates Limited and its director for our work or for this report.

It is your duty to ensure that Park Lane Associates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Park Lane Associates Limited. You consider that Park Lane Associates 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 financial statements of Park Lane Associates 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 financial statements.






Moore Thompson
Monica House
St Augustines Road
Wisbech
Cambridgeshire
PE13 3AD


10 October 2024

Park Lane Associates Limited (Registered number: 12443812)

Statement of Financial Position
29 February 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 5 4,121 5,627

Current assets
Stocks 4,414 8,342
Debtors 6 14,862 9,771
Cash at bank 6,993 20,966
26,269 39,079
Creditors
Amounts falling due within one year 7 13,937 12,969
Net current assets 12,332 26,110
Total assets less current liabilities 16,453 31,737

Creditors
Amounts falling due after more than one
year

8

(13,950

)

(24,112

)

Provisions for liabilities (783 ) (1,069 )
Net assets 1,720 6,556

Capital and reserves
Called up share capital 100 100
Retained earnings 1,620 6,456
1,720 6,556

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Lane Associates Limited (Registered number: 12443812)

Statement of Financial Position - continued
29 February 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 October 2024 and were signed by:





Z Darr - Director


Park Lane Associates Limited (Registered number: 12443812)

Notes to the Financial Statements
for the Year Ended 29 February 2024


1. Statutory information

Park Lane Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - Straight line over 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Park Lane Associates Limited (Registered number: 12443812)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


4. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

5. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 March 2023 6,083 1,598 7,681
Additions - 249 249
At 29 February 2024 6,083 1,847 7,930
Depreciation
At 1 March 2023 1,521 533 2,054
Charge for year 1,140 615 1,755
At 29 February 2024 2,661 1,148 3,809
Net book value
At 29 February 2024 3,422 699 4,121
At 28 February 2023 4,562 1,065 5,627

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 12,450 -
Tax 197 757
VAT 1,687 9,014
Prepayments and accrued income 528 -
14,862 9,771

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 10,162 9,911
Directors' loan accounts 1,211 899
Accruals and deferred income 2,564 2,159
13,937 12,969

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years 10,419 10,162
Bank loans - 2-5 years 3,531 13,950
13,950 24,112

Park Lane Associates Limited (Registered number: 12443812)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


9. Related party disclosures

During the year the director made loans to the company. These loans were interest free and deemed repayable on demand. The amount outstanding at the balance sheet was £1,211 (2023: £899)