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Registered number: 06325816
Parvy Homes Limited
Financial Statements
For The Year Ended 29 March 2024
BBK Partnership
Chartered Accountants & Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06325816
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 9,500 9,500
Tangible Assets 5 45,908 56,899
55,408 66,399
CURRENT ASSETS
Debtors 6 8,266 12,856
Cash at bank and in hand 14,095 90,573
22,361 103,429
Creditors: Amounts Falling Due Within One Year 7 (37,020 ) (38,017 )
NET CURRENT ASSETS (LIABILITIES) (14,659 ) 65,412
TOTAL ASSETS LESS CURRENT LIABILITIES 40,749 131,811
Creditors: Amounts Falling Due After More Than One Year 8 (86,834 ) (131,668 )
NET (LIABILITIES)/ASSETS (46,085 ) 143
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (46,185 ) 43
SHAREHOLDERS' FUNDS (46,085) 143
Page 1
Page 2
For the year ending 29 March 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr P Luchmun
Director
28/02/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Parvy Homes Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06325816 . The registered office is 22-24 Swanage Waye, Hayes, Middlesex, UB4 0NY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 5% on reducing balance
Motor Vehicles 20% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 33% on cost
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2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 45 (2023: 44)
45 44
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4. Intangible Assets
Development Costs
£
Cost
As at 30 March 2023 9,500
As at 29 March 2024 9,500
Net Book Value
As at 29 March 2024 9,500
As at 30 March 2023 9,500
5. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 30 March 2023 - 59,150 100,104 476 159,730
Additions - - - 664 664
As at 29 March 2024 - 59,150 100,104 1,140 160,394
Depreciation
As at 30 March 2023 475 11,830 90,407 119 102,831
Provided during the period 451 9,464 1,455 285 11,655
As at 29 March 2024 926 21,294 91,862 404 114,486
Net Book Value
As at 29 March 2024 (926 ) 37,856 8,242 736 45,908
As at 30 March 2023 (475 ) 47,320 9,697 357 56,899
6. Debtors
2024 2023
£ £
Due within one year
Corporation tax recoverable assets 8,266 -
Directors' loan accounts - 12,856
8,266 12,856
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,837 5,837
Bank loans and overdrafts 5,488 7,107
Corporation tax - 8,064
Other taxes and social security 20,981 13,006
Pension liabilities 4,039 4,003
Directors' loan accounts 675 -
37,020 38,017
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 32,196 38,033
Bank loans 21,667 31,665
Amounts owed to participating interests 32,971 61,970
86,834 131,668
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,837 5,837
Later than one year and not later than five years 32,196 38,033
38,033 43,870
38,033 43,870
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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