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COMPANY REGISTRATION NUMBER: 5054635
Parkland Developments Limited
Filleted Unaudited Financial Statements
For the Year Ended
31 December 2024
Parkland Developments Limited
Financial Statements
Year Ended 31st December 2024
Contents
Page
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements
1
Statement of Financial Position
2
Notes to the Financial Statements
3
Parkland Developments Limited
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Parkland Developments Limited
Year Ended 31st December 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31st December 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
PEYTON TYLER MEARS Chartered accountants
Middleborough House 16 Middleborough Colchester Essex CO1 1QT
7 March 2025
Parkland Developments Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Current Assets
Debtors
5
713,675
747,720
Cash at bank and in hand
1,966
14,037
---------
---------
715,641
761,757
Creditors: amounts falling due within one year
6
18,595
61,705
---------
---------
Net Current Assets
697,046
700,052
---------
---------
Total Assets Less Current Liabilities
697,046
700,052
---------
---------
Net Assets
697,046
700,052
---------
---------
Capital and Reserves
Called up share capital
8,000
8,000
Profit and loss account
689,046
692,052
---------
---------
Shareholders Funds
697,046
700,052
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 7 March 2025 , and are signed on behalf of the board by:
J.D. Nash
Director
Company registration number: 5054635
Parkland Developments Limited
Notes to the Financial Statements
Year Ended 31st December 2024
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Middleborough House, 16 Middleborough, Colchester, Essex, CO1 1QT.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to Nil (2023: 2 ).
5. Debtors
2024
2023
£
£
Other debtors
713,675
747,720
---------
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
18,595
61,705
--------
--------