Registration number:
Pardis Properties Ltd
for the Year Ended 30 September 2024
Pardis Properties Ltd
Contents
Statement of Financial Position |
|
Notes to the Unaudited Financial Statements |
Pardis Properties Ltd
(Registration number: 10982540)
Statement of Financial Position as at 30 September 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Investment property |
|
|
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Retained earnings |
|
|
|
Shareholders' funds |
|
|
For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement .
Approved and authorised by the
|
Pardis Properties Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
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, unless otherwise stated.
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 except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company has received assurances from the directors that they will continue to give financial support to the company for the foreseeable future and a period not less than twelve months from the date of signing these financial statements.
On this basis the directors consider it appropriate to prepare the accounts on the going concern basis.
Revenue recognition
Rents receivable are included in the accounts on the accruals basis.
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.
Pardis Properties Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
2 |
Accounting policies (continued) |
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 assets
Tangible assets are recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
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:
Asset class |
Depreciation method and rate |
Office Equipment |
15% Reducing Balance |
Investment property
Trade Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Pardis Properties Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
2 |
Accounting policies (continued) |
Financial instruments
Recognition and measurement
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Pardis Properties Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
Tangible assets |
Furniture, fittings and equipment |
Total |
|
Cost or valuation |
||
At 1 October 2023 |
|
|
At 30 September 2024 |
|
|
Depreciation |
||
At 1 October 2023 |
|
|
Charge for the year |
|
|
At 30 September 2024 |
|
|
Carrying amount |
||
At 30 September 2024 |
|
|
At 30 September 2023 |
|
|
Investment properties |
2024 |
|
At 1 October |
|
At 30 September |
|
The directors consider the open market value of the investment properties at 30 September 2024 to be similar to the carrying historical cost of £2,722,192. Depreciation on the historical cost is £nil (2023 - £nil).
Debtors |
Current |
2024 |
2023 |
Trade Debtors |
|
- |
Prepayments |
|
|
|
|
Pardis Properties Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
|
Due within one year |
||
Taxation and social security |
|
|
Accruals and deferred income |
|
|
Other creditors |
|
|
|
|
Related party transactions |
Included in other creditors repayable in one year are non-interest bearing directors' loans payable on demand of £1,895,285 (2023 £2,145,285)