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Registered number: 11611643
Parkside Properties (Grays) Limited
Unaudited Financial Statements
For the Period 1 November 2023 to 31 January 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11611643
31 January 2025 31 October 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,082 6,353
Investment Properties 5 1,200,000 1,200,000
1,205,082 1,206,353
CURRENT ASSETS
Debtors 6 1,427 -
Cash at bank and in hand 108,747 33,892
110,174 33,892
Creditors: Amounts Falling Due Within One Year 7 (491,788 ) (232,301 )
NET CURRENT ASSETS (LIABILITIES) (381,614 ) (198,409 )
TOTAL ASSETS LESS CURRENT LIABILITIES 823,468 1,007,944
PROVISIONS FOR LIABILITIES
Deferred Taxation (196,339 ) (196,657 )
NET ASSETS 627,129 811,287
CAPITAL AND RESERVES
Called up share capital 8 1 1
Revaluation reserve 9 585,206 585,206
Profit and Loss Account 41,922 226,080
SHAREHOLDERS' FUNDS 627,129 811,287
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Page 2
For the period ending 31 January 2025 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 T Hales
Director
02/05/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Parkside Properties (Grays) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11611643 . The registered office is 69-75 Thorpe Road, Norwich, NR1 1UA.
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. 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.
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.
2.3. 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:
Plant & Machinery 20% reducing balance
Fixtures & Fittings 20% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. 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.
...CONTINUED
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2.5. Taxation - continued
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 and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the period was: NIL (2023: NIL)
- -
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost or Valuation
As at 1 November 2023 11,671 2,232 13,903
As at 31 January 2025 11,671 2,232 13,903
Depreciation
As at 1 November 2023 6,323 1,227 7,550
Provided during the period 1,070 201 1,271
As at 31 January 2025 7,393 1,428 8,821
Net Book Value
As at 31 January 2025 4,278 804 5,082
As at 1 November 2023 5,348 1,005 6,353
5. Investment Property
31 January 2025
£
Fair Value
As at 1 November 2023 and 31 January 2025 1,200,000
There has been no valuation of property by an independent valuer; the directors have reviewed the fair value of the property at the year end.
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6. Debtors
31 January 2025 31 October 2023
£ £
Due within one year
Trade debtors 1,427 -
7. Creditors: Amounts Falling Due Within One Year
31 January 2025 31 October 2023
£ £
Trade creditors 498 -
Amounts owed to group undertakings 249,900 -
Other creditors 216,597 214,713
Taxation and social security 24,793 17,588
491,788 232,301
8. Share Capital
31 January 2025 31 October 2023
£ £
Allotted, Called up and fully paid 1 1
9. Reserves
Revaluation Reserve
£
As at 1 November 2023 585,206
As at 31 January 2025 585,206
10. Related Party Transactions
Included in other creditors is a loan from the directors of £215,347 (2023: £213,463). This loan is unsecured, interest free and repayable on demand. 
The company has taken advantage of the exemption under FRS 102 Section 33.1A allowing wholly owned group members to depart from the requirement to disclose transactions with other group companies.
11. Ultimate Controlling Party
The companies ultimate parent is Whitmore Holdings (Orsett) Ltd, incorporated in England and Wales. 
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