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Company Registration No. 03784934 (England and Wales)
PARKPORT UK LIMITED Unaudited accounts for the year ended 30 June 2024
PARKPORT UK LIMITED Unaudited accounts Contents
Page
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PARKPORT UK LIMITED Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
2,075,000 
7,152,410 
Current assets
Inventories
3,624,427 
- 
Debtors
365,003 
372,747 
Cash at bank and in hand
976,342 
21,972 
4,965,772 
394,719 
Creditors: amounts falling due within one year
(1,480,851)
(929,172)
Net current assets/(liabilities)
3,484,921 
(534,453)
Total assets less current liabilities
5,559,921 
6,617,957 
Creditors: amounts falling due after more than one year
(2,933,454)
(3,650,260)
Provisions for liabilities
Deferred tax
(247,219)
(247,219)
Net assets
2,379,248 
2,720,478 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
1,837,975 
2,292,235 
Profit and loss account
541,173 
428,143 
Shareholders' funds
2,379,248 
2,720,478 
For the year ending 30 June 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 7 March 2025 and were signed on its behalf by
Mr J Wade Director Company Registration No. 03784934
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PARKPORT UK LIMITED Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
PARKPORT UK LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03784934. The registered office is 9 WIMPOLE MEWS, LONDON, W1G 8PB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Inventories
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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PARKPORT UK LIMITED Notes to the Accounts for the year ended 30 June 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 July 2023
8,211 
At 30 June 2024
8,211 
Depreciation
At 1 July 2023
8,211 
At 30 June 2024
8,211 
Net book value
At 30 June 2024
- 
5
Investment property
2024 
£ 
Fair value at 1 July 2023
7,152,410 
Disposals
(1,452,983)
Transfers to tangible fixed assets
(3,624,427)
At 30 June 2024
2,075,000 
6
Inventories
2024 
2023 
£ 
£ 
Work in progress
3,624,427 
- 
3,624,427 
- 
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
365,003 
365,266 
Other debtors
- 
7,481 
365,003 
372,747 
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Amounts owed to group undertakings and other participating interests
40,488 
20,787 
Taxes and social security
52,038 
876 
Other creditors
171,836 
86,405 
Loans from directors
1,214,489 
817,104 
Accruals
2,000 
4,000 
1,480,851 
929,172 
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PARKPORT UK LIMITED Notes to the Accounts for the year ended 30 June 2024
9
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
2,933,454 
3,650,260 
The bank loans are secured on the Company's investment properties.
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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