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Registered number: 13842329
Parlocks Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Smithe & Co Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13842329
31 January 2024 31 January 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 162,485 162,485
162,485 162,485
CURRENT ASSETS
Debtors 5 60 -
Cash at bank and in hand 6,361 440
6,421 440
Creditors: Amounts Falling Due Within One Year 6 (60,517 ) (55,343 )
NET CURRENT ASSETS (LIABILITIES) (54,096 ) (54,903 )
TOTAL ASSETS LESS CURRENT LIABILITIES 108,389 107,582
Creditors: Amounts Falling Due After More Than One Year 7 (116,230 ) (116,230 )
NET LIABILITIES (7,841 ) (8,648 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account (7,843 ) (8,650 )
SHAREHOLDERS' FUNDS (7,841) (8,648)
Page 1
Page 2
For the year ending 31 January 2024 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.
On behalf of the board
Mr R Parker
Director
Mr A Sherlock
Director
23 September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Parlocks Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13842329 . The registered office is Chichester Enterprise Centre, Terminus Road, Chichester, West Sussex, PO19 8FY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Significant judgements and estimations
In the application of the company’s accounting policies, the directors are required to make judgment, estimates and assumptions about the carrying amount of assets and liabilities that are readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. 
Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis.  Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2.4. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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2.5. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Investment Property
31 January 2024
£
Fair Value
As at 1 February 2023 and 31 January 2024 162,485
5. Debtors
31 January 2024 31 January 2023
£ £
Due within one year
Other debtors 60 -
6. Creditors: Amounts Falling Due Within One Year
31 January 2024 31 January 2023
£ £
Other creditors 60,517 55,343
7. Creditors: Amounts Falling Due After More Than One Year
31 January 2024 31 January 2023
£ £
Bank loans 116,230 116,230
Of the creditors falling due after more than one year the following amounts are due after more than five years.
Page 4
Page 5
31 January 2024 31 January 2023
£ £
Bank loans 116,230 116,230
8. Share Capital
31 January 2024 31 January 2023
£ £
Allotted, Called up and fully paid 2 2
Page 5