Parrett Property Co. Limited 00746277 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is letting and operating of owned or leased real estate. Digita Accounts Production Advanced 6.30.9574.0 true true 00746277 2023-04-01 2024-03-31 00746277 2024-03-31 00746277 core:RetainedEarningsAccumulatedLosses 2024-03-31 00746277 core:ShareCapital 2024-03-31 00746277 core:CurrentFinancialInstruments 2024-03-31 00746277 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 00746277 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 00746277 bus:SmallEntities 2023-04-01 2024-03-31 00746277 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 00746277 bus:FilletedAccounts 2023-04-01 2024-03-31 00746277 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 00746277 bus:RegisteredOffice 2023-04-01 2024-03-31 00746277 bus:Director1 2023-04-01 2024-03-31 00746277 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00746277 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 00746277 core:ShareCapital 2023-04-01 2024-03-31 00746277 countries:EnglandWales 2023-04-01 2024-03-31 00746277 2023-03-31 00746277 core:RetainedEarningsAccumulatedLosses 2023-03-31 00746277 core:ShareCapital 2023-03-31 00746277 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 00746277 2022-04-01 2023-03-31 00746277 2023-03-31 00746277 core:CurrentFinancialInstruments 2023-03-31 00746277 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 00746277 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 00746277 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 00746277 core:ShareCapital 2022-04-01 2023-03-31 00746277 2022-03-31 00746277 core:RetainedEarningsAccumulatedLosses 2022-03-31 00746277 core:ShareCapital 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 00746277

Parrett Property Co. Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Parrett Property Co. Limited

Contents

Statement of Financial Position

1

Statement of Changes in Equity

2

Notes to the Unaudited Financial Statements

3 to 5

 

Parrett Property Co. Limited

(Registration number: 00746277)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

625,000

625,000

Current assets

 

Debtors

5

30

-

Cash at bank and in hand

 

394,681

362,049

 

394,711

362,049

Creditors: Amounts falling due within one year

6

(115,083)

(107,953)

Net current assets

 

279,628

254,096

Net assets

 

904,628

879,096

Capital and reserves

 

Called up share capital

4,068

4,068

Profit and loss account

900,560

875,028

Shareholders' funds

 

904,628

879,096

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 21 October 2024 and signed on its behalf by:
 


G Stacey
Director

 

Parrett Property Co. Limited

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Profit and loss account
£

Total
£

At 1 April 2023

4,068

875,028

879,096

Profit for the year

-

49,940

49,940

Dividends

-

(24,408)

(24,408)

At 31 March 2024

4,068

900,560

904,628

Share capital
£

Profit and loss account
£

Total
£

At 1 April 2022

4,068

858,059

862,127

Profit for the year

-

41,377

41,377

Dividends

-

(24,408)

(24,408)

At 31 March 2023

4,068

875,028

879,096

 

Parrett Property Co. Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Quantock Terrace
The Drove
Bridgwater
Somerset
TA6 4BA

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover represents the property rental accrued during the financial period.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Parrett Property Co. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 April 2023

625,000

625,000

At 31 March 2024

625,000

625,000

Depreciation

Carrying amount

At 31 March 2024

625,000

625,000

At 31 March 2023

625,000

625,000

The investment properties are shown at their fair value on an open market basis as determined by the directors.

The historic cost of the investment properties at 31 March 2024 was £64,100 (2023: £64,100)

 

Parrett Property Co. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

5

Debtors

2024
£

2023
£

Other debtors

30

-

30

-

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

11,823

12,123

Taxation and social security

12,904

9,705

Accruals and deferred income

2,520

3,440

Other creditors

87,836

82,685

115,083

107,953

7

Related party transactions

The company was indebted to the directors at the year end in the sum of £87,836 (2023: £82,685) repayable on demand.