IRIS Accounts Production v24.2.0.383 08447659 director 1.4.23 31.3.24 31.3.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh084476592023-03-31084476592024-03-31084476592023-04-012024-03-31084476592022-03-31084476592022-04-012023-03-31084476592023-03-3108447659ns15:EnglandWales2023-04-012024-03-3108447659ns14:PoundSterling2023-04-012024-03-3108447659ns10:Director12023-04-012024-03-3108447659ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3108447659ns10:SmallEntities2023-04-012024-03-3108447659ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3108447659ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3108447659ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3108447659ns10:FullAccounts2023-04-012024-03-3108447659ns10:RegisteredOffice2023-04-012024-03-3108447659ns5:CurrentFinancialInstruments2024-03-3108447659ns5:CurrentFinancialInstruments2023-03-3108447659ns5:Non-currentFinancialInstruments2024-03-3108447659ns5:Non-currentFinancialInstruments2023-03-3108447659ns5:ShareCapital2024-03-3108447659ns5:ShareCapital2023-03-3108447659ns5:RetainedEarningsAccumulatedLosses2024-03-3108447659ns5:RetainedEarningsAccumulatedLosses2023-03-3108447659ns5:PlantMachinery2023-04-012024-03-3108447659ns5:PlantMachinery2023-03-3108447659ns5:PlantMachinery2024-03-3108447659ns5:Secured2024-03-3108447659ns5:Secured2023-03-31
REGISTERED NUMBER: 08447659 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

PARKHILL SMYTH LTD

PARKHILL SMYTH LTD (REGISTERED NUMBER: 08447659)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PARKHILL SMYTH LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: G D C Smyth





REGISTERED OFFICE: 20-22 Wenlock Road
London
N1 7GU





REGISTERED NUMBER: 08447659 (England and Wales)





ACCOUNTANTS: CMB Partnership Limited
Chartered Accountants
7 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU

PARKHILL SMYTH LTD (REGISTERED NUMBER: 08447659)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 352,500 343,500
352,500 343,500

CURRENT ASSETS
Cash at bank 2,850 2,295

CREDITORS
Amounts falling due within one year 6 266,306 262,055
NET CURRENT LIABILITIES (263,456 ) (259,760 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

89,044

83,740

CREDITORS
Amounts falling due after more than one
year

7

(7,349

)

(13,282

)

PROVISIONS FOR LIABILITIES (5,365 ) (5,365 )
NET ASSETS 76,330 65,093

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 9 75,330 64,093
SHAREHOLDERS' FUNDS 76,330 65,093

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

PARKHILL SMYTH LTD (REGISTERED NUMBER: 08447659)

BALANCE SHEET - continued
31 MARCH 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 October 2024 and were signed by:





G D C Smyth - Director


PARKHILL SMYTH LTD (REGISTERED NUMBER: 08447659)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Parkhill Smyth Ltd 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Investment property
Investment properties are shown at open market value as disclosed in note 5, and are not subject to a depreciation charge. This is a departure from the general requirement of the Companies Act 2006 for all tangible fixed assets to be depreciated. In the opinion of the directors this is necessary for the financial statements to give a true and fair view.

Financial instruments
The Company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors and creditors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price.

Basic financial liabilities, including trade and other creditors, loans from third parties are initially recognised at transaction price.

3. EMPLOYEES AND DIRECTORS

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

PARKHILL SMYTH LTD (REGISTERED NUMBER: 08447659)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 140
Disposals (140 )
At 31 March 2024 -
DEPRECIATION
At 1 April 2023 140
Eliminated on disposal (140 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 343,500
Additions 9,000
At 31 March 2024 352,500
NET BOOK VALUE
At 31 March 2024 352,500
At 31 March 2023 343,500

The investment property represents the purchase and associated costs of buying seven (2023 seven) properties. The director considers that the open market value of the properties at 31 March 2024 is £352,500 (2023 £343,500).

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2016 23,935
Valuation in 2018 3,000
Valuation in 2023 1,300
Cost 324,265
352,500

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 5,900 5,800
Taxation and social security 2,636 1,497
Other creditors 257,770 254,758
266,306 262,055

PARKHILL SMYTH LTD (REGISTERED NUMBER: 08447659)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 7,349 13,282

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 13,249 19,082

The bank have a fixed charge over one of the properties.

9. RESERVES

Reserves include £22,870 (2023: £22,870) net of deferred taxation relating to the revaluation of investment properties which is not distributable.

10. RELATED PARTY DISCLOSURES

At 31 March 2024 the company owed the director £191,155 (2023 £188,155).

11. ULTIMATE CONTROLLING PARTY

The controlling party is G D C Smyth.