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Registered number: 13304964
Parshad Lettings London Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Goldwyns London LLP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13304964
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 12,061 10,870
Investment Properties 5 4,680,000 4,420,000
4,692,061 4,430,870
CURRENT ASSETS
Debtors 6 74,861 -
Cash at bank and in hand 195,647 258,278
270,508 258,278
Creditors: Amounts Falling Due Within One Year 7 (124,509 ) (166,928 )
NET CURRENT ASSETS (LIABILITIES) 145,999 91,350
TOTAL ASSETS LESS CURRENT LIABILITIES 4,838,060 4,522,220
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (68,015 ) -
NET ASSETS 4,770,045 4,522,220
CAPITAL AND RESERVES
Called up share capital 9 200 100
Share premium account 4,419,902 4,419,902
Fair Value Reserve 12 195,000 -
Profit and Loss Account 154,943 102,218
SHAREHOLDERS' FUNDS 4,770,045 4,522,220
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Page 2
For the 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.
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 Parshad
Director
23/12/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Parshad Lettings London Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13304964 . The registered office is 18 Fern Lane, Hounslow, Middlesex, TW5 0HL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities-The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in UK sterling, which is the financial currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
The principle accounting policies adopted are set below.
2.2. Going Concern Disclosure
The directors have considered the prospect of the business for the next twelve months and beyond and have arrived at a reasonable expectation that the company will continue to meet its obligations as they fall due. The directors have also pledged their financial support to assist with this if required. On this basis, the directors will continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & Machinery 15% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 25% Reducing Balance
Tangible assets are initially recorded at cost and subsequently stated at cost less accumulated depreciation and impairment losses.
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.
2.6. Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it related 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 statement of financial position date.
Deferred Tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2.7. Financial Instruments
The company only enters into basic financial transactions that result in the recoginition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other parties, loans to related parties and investments in non- puttable ordinary shares.
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2.8. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.9. Critical Accounting Judgements and Key Sources of Estimation Uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.
2.10. Registrar Filing Requirements
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other soureces. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.

The estimates amd underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.

The key area of estimation uncertainity that have a significant effect on the amounts recognised in the financial statements are described below:

Accrued Expenditure

The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 5 5
5 5
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost or Valuation
As at 1 April 2023 7,655 4,250 1,000 12,905
Additions 2,120 433 969 3,522
As at 31 March 2024 9,775 4,683 1,969 16,427
Depreciation
As at 1 April 2023 1,148 637 250 2,035
Provided during the period 1,294 607 430 2,331
As at 31 March 2024 2,442 1,244 680 4,366
...CONTINUED
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Page 5
Net Book Value
As at 31 March 2024 7,333 3,439 1,289 12,061
As at 1 April 2023 6,507 3,613 750 10,870
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 4,420,000
Fair value adjustments 260,000
As at 31 March 2024 4,680,000
6. Debtors
2024 2023
£ £
Due within one year
Directors' loan accounts 74,861 -
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 54,286 32,435
Other taxes and social security 1,820 -
Shareholders loan account 68,403 35,625
Directors' loan accounts - 98,868
124,509 166,928
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 68,015 -
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 100
The nominal value per share is £1. During the year the company converted it's 100 Ordinary shares in issue to 100 Ordinary A of £1 each. During the year the company also issued 100 Ordinary B shares. As at 31 March 2024 there are 100 Ordinary A shares and 100 Ordinary B shares shares in issue.
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10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Rajinder Parshad (48,921 ) 405,157 (282,219 ) - 74,017
Mrs Surinder Kaur Parshad (49,946 ) 91,690 (40,900 ) - 844
The above outstanding amount is to be repaid within nine months of the the year-end.
11. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 110,000 72,053
12. Reserves
Fair Value Reserve
£
Movements in fair value reserve 260,000
Deferred tax on fair value adjustment (65,000)
As at 31 March 2024 195,000
13. Related Party Transactions
As at the year-end, the directors' loan account balance of Mr R Parshad (the director and shareholder of the company) is £74,017. This amount is a current asset, of which interest is charged at a rate of 2.25% per annum on any overdrawn balance in the year that is above £10,000. This outstanding amount will be repaid to the company within nine months of the year-end.
As at the year-end, the directors' loan account balance of Mrs S Parshad (the director and shareholder of the company) is £844. This amount is a current asset, of which interest is charged at a rate of 2.25% per annum on any overdrawn balance in the year that is above £10,000. This outstanding amount will be repaid to the company within nine months of the year-end.
As at year end date the Shareholders Loan Account is £68,404, which is a current liability, is interest free and repayable on demand.
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