Acorah Software Products - Accounts Production 15.0.600 false true 30 January 2023 31 January 2022 false 31 January 2023 30 January 2024 30 January 2024 11153801 Jason Parkin true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11153801 2023-01-30 11153801 2024-01-30 11153801 2023-01-31 2024-01-30 11153801 frs-core:CurrentFinancialInstruments 2024-01-30 11153801 frs-core:Non-currentFinancialInstruments 2024-01-30 11153801 frs-core:InvestmentPropertyIncludedWithinPPE 2024-01-30 11153801 frs-core:InvestmentPropertyIncludedWithinPPE 2023-01-30 11153801 frs-core:ShareCapital 2024-01-30 11153801 frs-core:RetainedEarningsAccumulatedLosses 2024-01-30 11153801 frs-bus:PrivateLimitedCompanyLtd 2023-01-31 2024-01-30 11153801 frs-bus:FilletedAccounts 2023-01-31 2024-01-30 11153801 frs-bus:SmallEntities 2023-01-31 2024-01-30 11153801 frs-bus:AuditExempt-NoAccountantsReport 2023-01-31 2024-01-30 11153801 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-31 2024-01-30 11153801 1 2023-01-31 2024-01-30 11153801 frs-bus:Director1 2023-01-31 2024-01-30 11153801 frs-countries:EnglandWales 2023-01-31 2024-01-30 11153801 2022-01-30 11153801 2023-01-30 11153801 2022-01-31 2023-01-30 11153801 frs-core:CurrentFinancialInstruments 2023-01-30 11153801 frs-core:Non-currentFinancialInstruments 2023-01-30 11153801 frs-core:ShareCapital 2023-01-30 11153801 frs-core:RetainedEarningsAccumulatedLosses 2023-01-30
Registered number: 11153801
Parkin Corporation Ltd
Unaudited Financial Statements
For The Year Ended 30 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11153801
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 910,000 910,000
910,000 910,000
CURRENT ASSETS
Debtors 5 1,593 2,584
Cash at bank and in hand 1,747 395
3,340 2,979
Creditors: Amounts Falling Due Within One Year 6 (159,859 ) (172,689 )
NET CURRENT ASSETS (LIABILITIES) (156,519 ) (169,710 )
TOTAL ASSETS LESS CURRENT LIABILITIES 753,481 740,290
Creditors: Amounts Falling Due After More Than One Year 7 (677,787 ) (676,512 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (32,906 ) (32,906 )
NET ASSETS 42,788 30,872
CAPITAL AND RESERVES
Called up share capital 9 10 10
Profit and Loss Account 42,778 30,862
SHAREHOLDERS' FUNDS 42,788 30,872
Page 1
Page 2
For the year ending 30 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Jason Parkin
Director
22 October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Parkin Corporation Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11153801 . The registered office is 21 Blackheath Park, London, England, SE3 9RW.
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. Turnover
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:
Income from investment properties
Rental income from investment properties leased out under an operating lease is recognised in the income statement on a straight-line basis over the term of the lease. Lease incentives granted are recognised as an integral part of the total rental income over the life of the lease.
Service charge income is recognised as revenue in the period to which it relates.
Interest income
Revenue is recognised as interest accrues using the effective interest method.
2.3. Investment Properties
Investment properties, including freehold and long leasehold properties, are those which are held either to earn rental income or for capital appreciation or both. Investment properties include property that is being constructed or developed for future use as an investment property.
Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.
Investment properties whose fair value can be measured reliably are measured at fair value, based on the market valuations.
Any surplus or deficit on revaluation is recognised in the income statement as a fair value gains and losses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Investment Properties
£
Cost or Valuation
As at 31 January 2023 910,000
As at 30 January 2024 910,000
Net Book Value
As at 30 January 2024 910,000
As at 31 January 2023 910,000
The investment property was valued, at 30 January 2024, by the director of the company based on the assessment of available market information and property condition. The director believes that their valuation would not be materially different from the professional valuation.
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 1,593 1,994
Other debtors - 590
1,593 2,584
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 3,288 3,288
Accruals and deferred income 4,351 2,255
Director's loan account 152,220 167,146
159,859 172,689
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 677,787 676,512
8. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 677,787 676,512
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
10. Related Party Transactions
Included in creditors due within one year is an amount of £152,220 (2023: £167,146 ) owed to its director. Loan is unsecured and and repayable on demand. Interest amounting to £2,096 was charged on the balance during the year.
11. Ultimate Controlling Party
The company's ultimate controlling party is Mr Jason Parkin by virtue of the ownership of 100% of the issued share capital in the company.
Page 4