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Registration number: 01171166

Parkhouse Commercial Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Parkhouse Commercial Properties Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Parkhouse Commercial Properties Limited

Company Information

Directors

John Dykes

Andrea Devaney-Dykes

Mary Bernadette Devaney

Company secretary

Mary Bernadette Devaney

Registered office

1 Rolfe Place
Headington
Oxford
OX3 0DS

 

Accountants

SKP Tax & Accounting Services Ltd
t/a AIMS Accountants for Business17 Mileway Gardens
Headington
Oxford
OX3 7XH

 

Parkhouse Commercial Properties Limited

(Registration number: 01171166)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,131

1,538

Investment property

5

450,000

450,000

 

451,131

451,538

Current assets

 

Debtors

6

40,891

11,788

Cash at bank and in hand

 

582,137

618,862

 

623,028

630,650

Creditors: Amounts falling due within one year

7

(31,977)

(29,327)

Net current assets

 

591,051

601,323

Net assets

 

1,042,182

1,052,861

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

(477,000)

(477,000)

Retained earnings

1,519,082

1,529,761

Shareholders' funds

 

1,042,182

1,052,861

For the financial year ending 30 April 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 and 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 Board on 30 December 2024 and signed on its behalf by:
 

 

Parkhouse Commercial Properties Limited

(Registration number: 01171166)
Balance Sheet as at 30 April 2024

.........................................
John Dykes
Director

 

Parkhouse Commercial Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
1 Rolfe Place
Headington
Oxford
OX3 0DS

These financial statements were authorised for issue by the Board on 30 December 2024.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

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.

 

Parkhouse Commercial Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

20% straight line

Fixtures and Fittings

20% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

 

Parkhouse Commercial Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Parkhouse Commercial Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

799

6,670

7,469

At 30 April 2024

799

6,670

7,469

Depreciation

At 1 May 2023

320

5,611

5,931

Charge for the year

160

247

407

At 30 April 2024

480

5,858

6,338

Carrying amount

At 30 April 2024

319

812

1,131

At 30 April 2023

479

1,059

1,538

5

Investment properties

2024
£

At 1 May 2021

450,000

At 30 April 2021

450,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

17,663

1,092

Prepayments

1,634

2,043

Other debtors

21,594

8,653

 

40,891

11,788

7

Creditors

Creditors: amounts falling due within one year

 

Parkhouse Commercial Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2024
£

2023
£

Due within one year

Taxation and social security

3,597

947

Accruals and deferred income

21,380

21,380

Other creditors

7,000

7,000

31,977

29,327

8

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

At 30 April 2024
£

John Dykes

Included in debtors is a directors loan

-

1,451

1,451

Mary Bernadette Devaney

Included in debtors is a directors loan

670

9,530

10,200

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

John Dykes

Included in debtors is a directors loan

25,000

-

(25,000)

-

Mary Bernadette Devaney

Included in debtors is a directors loan

-

670

-

670

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

30,000

32,500