Company registration number 07467811 (England and Wales)
PARK BOTTOM DEVELOPMENTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
PARK BOTTOM DEVELOPMENTS LTD
COMPANY INFORMATION
Directors
R Catanzaro
N Catanzaro
Company number
07467811
Registered office
Hazelberry
29 Basset Road
Camborne
Cornwall
United Kingdom
TR14 8SH
Accountants
Azets
Woodlands Court
Truro Business Park
Truro
Cornwall
United Kingdom
TR4 9NH
PARK BOTTOM DEVELOPMENTS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
PARK BOTTOM DEVELOPMENTS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
299,999
614,000
Current assets
Debtors
4
221,643
303,647
Cash at bank and in hand
507,931
113,964
729,574
417,611
Creditors: amounts falling due within one year
5
(29,074)
(3,059)
Net current assets
700,500
414,552
Total assets less current liabilities
1,000,499
1,028,552
Provisions for liabilities
(84,250)
(72,000)
Net assets
916,249
956,552
Capital and reserves
Called up share capital
44
44
Non-distributable profits reserve
6
102,749
216,000
Distributable profit and loss reserves
813,456
740,508
Total equity
916,249
956,552

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 1 May 2025 and are signed on its behalf by:
R Catanzaro
Director
Company Registration No. 07467811
PARK BOTTOM DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Park Bottom Developments Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Hazelberry, 29 Basset Road, Camborne, Cornwall, United Kingdom, TR14 8SH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

PARK BOTTOM DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax. Current tax assets are recognised when tax paid exceeds the tax payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.7
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 0 (2023: 0).

PARK BOTTOM DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
3
Investment property
2024
£
Fair value
At 1 January 2024
614,000
Disposals
(309,000)
Revaluations
(5,001)
At 31 December 2024
299,999

The fair values of the investment properties has been arrived at on the basis of estimated valuations carried out at 31 December 2024 by the directors.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
221,643
303,647
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
19,007
-
0
Other creditors
10,067
3,059
29,074
3,059
6
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
216,000
205,500
Transfer of non-distributable profits
(113,251)
10,500
At the end of the year
102,749
216,000
7
Directors' transactions

Dividends totalling £1,000 (2023: £47,750) were paid in the year in respect of shares held by the company's directors.

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
PARK BOTTOM DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
7
Directors' transactions
(Continued)
- 5 -
R Catanzaro -
2.25
(57)
20,000
333
-
20,276
P Hart -
-
64
3,013
-
(64)
3,013
L Hart -
-
170
3,013
-
(170)
3,013
N Catanzaro -
2.25
(2)
20,000
333
-
20,331
175
46,026
666
(234)
46,633
8
Related party transactions
Transactions with related parties

The following amounts were outstanding at the reporting end date:

At the balance sheet date, the company was owed £175,000 (2023: £175,000) by Remain Investments Ltd, a company controlled by R and N Catanzaro, which is disclosed within Debtors: Amounts falling due within one year.

 

Related party accounts are considered to be repayable on demand.

2024-12-312024-01-01falsefalsefalse02 May 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityR CatanzaroP HartL HartN Catanzaro074678112024-01-012024-12-3107467811bus:Director12024-01-012024-12-3107467811bus:Director42024-01-012024-12-3107467811bus:Director22024-01-012024-12-3107467811bus:Director32024-01-012024-12-3107467811bus:RegisteredOffice2024-01-012024-12-31074678112024-12-31074678112023-12-3107467811core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3107467811core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3107467811core:CurrentFinancialInstruments2024-12-3107467811core:CurrentFinancialInstruments2023-12-3107467811core:ShareCapital2024-12-3107467811core:ShareCapital2023-12-3107467811core:FurtherSpecificReserve1ComponentTotalEquity2024-12-3107467811core:FurtherSpecificReserve1ComponentTotalEquity2023-12-3107467811core:RetainedEarningsAccumulatedLosses2024-12-3107467811core:RetainedEarningsAccumulatedLosses2023-12-31074678112023-12-3107467811core:WithinOneYear2024-12-3107467811core:WithinOneYear2023-12-3107467811bus:PrivateLimitedCompanyLtd2024-01-012024-12-3107467811bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3107467811bus:FRS1022024-01-012024-12-3107467811bus:AuditExemptWithAccountantsReport2024-01-012024-12-3107467811bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP