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REGISTERED NUMBER: 02538085 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Park Lane Homes Limited

Park Lane Homes Limited (Registered number: 02538085)






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


Park Lane Homes Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: B Clink
B A Clink
J Clink





REGISTERED OFFICE: West Hill House
Allerton Hill
Chapel Allerton
Leeds
LS7 3QB





REGISTERED NUMBER: 02538085 (England and Wales)





ACCOUNTANTS: Malcolm Jones & Co LLP
Accountants and Business Advisors
West Hill House
Allerton Hill
Chapel Allerton
Leeds
West Yorkshire
LS7 3QB

Park Lane Homes Limited (Registered number: 02538085)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 201,181 204,516

CURRENT ASSETS
Stocks 1,221,827 669,477
Debtors 5 3,897,662 3,083,892
Cash at bank and in hand 1,156,740 2,484,239
6,276,229 6,237,608
CREDITORS
Amounts falling due within one year 6 334,968 304,127
NET CURRENT ASSETS 5,941,261 5,933,481
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,142,442

6,137,997

CREDITORS
Amounts falling due after more than one
year

7

(5,000

)

(2,679

)

PROVISIONS FOR LIABILITIES (47,651 ) (50,380 )
NET ASSETS 6,089,791 6,084,938

CAPITAL AND RESERVES
Called up share capital 275 275
Capital redemption reserve 25 25
Retained earnings 6,089,491 6,084,638
6,089,791 6,084,938

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 directors acknowledge their 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 Homes Limited (Registered number: 02538085)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2024 and were signed on its behalf by:




B Clink - Director B A Clink - Director




J Clink - Director


Park Lane Homes Limited (Registered number: 02538085)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Park Lane Homes 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.

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.

Turnover
Turnover represents the net invoice value of sales, excluding value added tax and includes an appropriate amount for work undertaken on incomplete contracts at the balance sheet date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost and 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Park Lane Homes Limited (Registered number: 02538085)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 498,464
Additions 69,854
Disposals (41,995 )
At 31 March 2024 526,323
DEPRECIATION
At 1 April 2023 293,948
Charge for year 53,067
Eliminated on disposal (21,873 )
At 31 March 2024 325,142
NET BOOK VALUE
At 31 March 2024 201,181
At 31 March 2023 204,516

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 25,245
Additions 69,854
At 31 March 2024 95,099
DEPRECIATION
At 1 April 2023 16,306
Charge for year 12,134
At 31 March 2024 28,440
NET BOOK VALUE
At 31 March 2024 66,659
At 31 March 2023 8,939

Park Lane Homes Limited (Registered number: 02538085)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 2,650,398 1,956,046
Amounts owed by group undertakings 1,060,678 1,076,841
Other debtors 186,586 51,005
3,897,662 3,083,892

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 10,179 5,357
Trade creditors 272,265 191,760
Taxation and social security 10,072 60,927
Other creditors 42,452 46,083
334,968 304,127

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 5,000 2,679