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Registration number: 10698671

Parkhills (Tortworth) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

Pages for filing with Registrar

 

Parkhills (Tortworth) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Parkhills (Tortworth) Limited

Company Information

Director

D Parkhill

Registered office

Tortworth Business Park
Charfield Road
Tortworth
GL12 8HQ

Registered number

10698671

Accountant

Corrigan Accountants Limited
1st Floor
25 King Street
Bristol
BS1 4PB

 

Parkhills (Tortworth) Limited

(Registration number: 10698671)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,550,000

1,550,000

Current assets

 

Stocks

5

4,042

-

Debtors

6

1,129

1,628

Cash at bank and in hand

 

10,295

127,705

 

15,466

129,333

Creditors: Amounts falling due within one year

7

(1,012,781)

(1,413,846)

Net current liabilities

 

(997,315)

(1,284,513)

Net assets

 

552,685

265,487

Capital and reserves

 

Called up share capital

8

120

120

Profit and loss account

552,565

265,367

Total equity

 

552,685

265,487

 

Parkhills (Tortworth) Limited

(Registration number: 10698671)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the director on 28 March 2025
 

.........................................

D Parkhill
Director

 

Parkhills (Tortworth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Tortworth Business Park
Charfield Road
Tortworth
GL12 8HQ
United Kingdom

2

Accounting policies

Summary of significant accounting policies

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future. The directors have indicated their willingness to continue to support the company and accordingly the accounts have been prepared on the basis that the company is a going concern.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rental income 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.

 

Parkhills (Tortworth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

Tangible fixed assets

Tangible assets are stated in the statement of financial position 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 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:

Freehold property

Not depreciated

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are recognised at the transaction price.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Parkhills (Tortworth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible fixed assets

Freehold Property
£

Office
Equipment
£

Total
£

Cost

At 1 April 2023

1,550,000

-

1,550,000

Additions

-

1,400

1,400

Disposals

-

(1,400)

(1,400)

At 31 March 2024

1,550,000

-

1,550,000

Depreciation

At 1 April 2022 and 31 March 2024

-

-

-

Carrying amount

At 31 March 2024

1,550,000

-

1,550,000

At 31 March 2023

1,550,000

-

1,550,000

5

Stocks

2024
£

2023
£

Other inventories

4,042

-

 

Parkhills (Tortworth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors: amounts falling due within one year

2024
£

2023
£

Prepayments

1,009

1,508

Other debtors

120

120

1,129

1,628

7

Creditors

2024
£

2023
£

Amounts falling due within one year

Trade creditors

120

1,386

Taxation and social security

31,821

29,090

Other creditors

117,954

74,174

Accruals and deferred income

55,229

51,766

Corporation tax

159,899

64,167

Directors' loan accounts

647,758

1,193,263

1,012,781

1,413,846

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

120

120

120

120