Registration number:
Report of the Director and
for the
Year Ended 31 October 2023
for
Parrot Quay Limited
Parrot Quay Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Parrot Quay Limited
Company Information
Directors: |
J L Passingham M C Passingham |
Registered office: |
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Registered number: |
12930151 |
Accountants: |
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Parrot Quay Limited
(Registration number: 12930151)
Balance Sheet as at 31 October 2023
Note |
31.10.23 |
31.10.22 |
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£ |
£ |
£ |
£ |
||
FIXED ASSETS |
|||||
Other financial assets |
8,563,432 |
9,016,196 |
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CURRENT ASSETS |
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Cash at bank and in hand |
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|
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CREDITORS |
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Creditors within 1yr |
9,358,761 |
9,365,500 |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
( |
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PROVISIONS FOR ASSETS/(LIABILITIES) |
|
- |
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Net liabilities |
( |
( |
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CAPITAL AND RESERVES |
|||||
Called up share capital |
100 |
100 |
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Other reserves |
274,004 |
- |
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Profit and loss account |
(713,213) |
(118,507) |
|||
Shareholders' deficit |
(439,109) |
(118,407) |
For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
Directors' responsibilities:
• |
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• |
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 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 Profit and Loss Account.
Approved and authorised by the
Parrot Quay Limited
(Registration number: 12930151)
Balance Sheet as at 31 October 2023 (continued)
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Parrot Quay Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023
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:
England
These financial statements were authorised for issue by the
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 presentational currency is Pound Sterling (£).
Going concern
The financial statements have been prepared on a going concern basis on the understanding that the director will comtine to support the company for the foreseeable future.
Tax
The tax expense for the period comprises deferred 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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Parrot Quay Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)
2 |
Accounting policies (continued) |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
3. |
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Parrot Quay Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)
4. |
Other financial assets (current and non-current) |
Financial assets at fair value through profit and loss |
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Non-current financial assets |
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Cost or valuation |
|
At 1 November 2022 |
9,017,893 |
Fair value adjustments |
492,150 |
Additions |
3,372,856 |
Disposals |
(4,319,467) |
At 31 October 2023 |
8,563,432 |
Impairment |
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Carrying amount |
|
At 31 October 2023 |
|
5. |
Debtors |
Current |
31.10.23 |
31.10.22 |
Other debtors |
|
- |
|
- |
6. |
Creditors |
Creditors: amounts falling due within one year
31.10.23 |
31.10.22 |
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Due within one year |
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Accruals and deferred income |
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Other creditors |
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Other creditors represents directors loans for which no repayment terms have been set. |