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REGISTERED NUMBER: 01189494 (England and Wales)










PARK PLACE 96 LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024






PARK PLACE 96 LIMITED (REGISTERED NUMBER: 01189494)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2 to 4


PARK PLACE 96 LIMITED (REGISTERED NUMBER: 01189494)

BALANCE SHEET
31ST DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 144,318 144,318

CURRENT ASSETS
Debtors 5 300 3,610
Cash at bank held in Reserve
Fund 14,855 -
Cash at bank 88,028 172,184
103,183 175,794
CREDITORS
Amounts falling due within one year 6 87,655 175,099
NET CURRENT ASSETS 15,528 695
TOTAL ASSETS LESS CURRENT LIABILITIES 159,846 145,013

CREDITORS
Amounts falling due after more than one year 7 14,833 -
NET ASSETS 145,013 145,013

CAPITAL AND RESERVES
Called up share capital 8 245 245
Non distributable reserves 144,768 144,768
SHAREHOLDERS' FUNDS 145,013 145,013

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6th February 2025 and were signed on its behalf by:



S B Rossiter - Director


PARK PLACE 96 LIMITED (REGISTERED NUMBER: 01189494)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. STATUTORY INFORMATION

Park Place 96 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01189494

Registered office: Park Place
Park Parade
Harrogate
HG1 5NS

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

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

At the time of signing these accounts, having considered the economic climate, the directors' expectations and intentions for the next 12 months, and the availability of working capital, the directors are of the opinion that the company will remain viable for the foreseeable future and accordingly these financial statements have been prepared on the going concern basis.

Turnover
Turnover is solely raised from rent received from tenants, whom also raise special levy funds billed in provision of upcoming building improvements/maintenance. Invoices raised are excluded from value added tax.

Tangible fixed assets
Depreciation has not been provided on the Freehold Property as this is not considered to have a finite life because it is maintained to a high standard. Furniture and equipment is dealt with on the renewals basis.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates 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 balance sheet date.

PARK PLACE 96 LIMITED (REGISTERED NUMBER: 01189494)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into transactions in 'basic' financial instruments which result in the recognition of assets and liabilities; these include trade and other debtors and creditors, bank balances, loans from banks and other third parties, and loans to related parties. These are recognised in the company's balance sheet when it becomes party to the contractual provisions of the instrument.

Basic financial assets (other than those classified as payable within one year) are initially measured at cost and are subsequently carried at cost or amortised cost using the effective interest method, less any impairment losses. Basic financial assets classed as receivable within one year are not amortised.

Basic financial liabilities (other than those classified as payable within one year) are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Basic financial liabilities classed as payable within one year are not amortised.

Financial assets and liabilities are offset, with the net amount reported in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1st January 2024
and 31st December 2024 144,000 318 144,318
NET BOOK VALUE
At 31st December 2024 144,000 318 144,318
At 31st December 2023 144,000 318 144,318

Cost or valuation at 31st December 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 1979 12,950 318 13,268
Valuation in 2015 131,050 - 131,050
144,000 318 144,318

Freehold land and buildings were valued on an open market value basis on 5th February 2015 by Guy Harmer , Chartered Surveyor .

There is a potential corporation tax charge of approximately £19,000 on the chargeable gain if the land and buildings were sold at the revalued amount.

PARK PLACE 96 LIMITED (REGISTERED NUMBER: 01189494)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 3,400
Prepayments and accrued income 300 210
300 3,610

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 363 1,338
Normal service charge surplus 10,142 14,733
Levies and provisions for
external refurbishment c/fwd 28,461 121,825
Accruals and deferred income 48,689 37,203
87,655 175,099

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Reserve fund balance 14,833 -

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
49 Ordinary £5 245 245