Registered number
06740345
Parkfields Estates Ltd
Filleted Accounts
31 December 2024
Parkfields Estates Ltd
Registered number: 06740345
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 11,768 10,411
Current assets
Debtors 4 58,715 40,916
Cash at bank and in hand 146,492 171,407
205,207 212,323
Creditors: amounts falling due within one year 5 (63,146) (56,312)
Net current assets 142,061 156,011
Total assets less current liabilities 153,829 166,422
Creditors: amounts falling due after more than one year 6 (11,250) (21,742)
Net assets 142,579 144,680
Capital and reserves
Called up share capital 1 1
Profit and loss account 142,578 144,679
Shareholders' funds 142,579 144,680
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ravi Attal
Director
Approved by the board on 20 May 2025
Parkfields Estates Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 9
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 75,710
Additions 6,733
At 31 December 2024 82,443
Depreciation
At 1 January 2024 65,299
Charge for the year 5,376
At 31 December 2024 70,675
Net book value
At 31 December 2024 11,768
At 31 December 2023 10,411
4 Debtors 2024 2023
£ £
Trade debtors 33,215 40,916
Deferred tax asset - -
58,715 40,916
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 10,188 11,114
Taxation and social security costs 52,958 45,198
63,146 56,312
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 11,250 21,742
7 Other information
Parkfields Estates Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1 The Crescent
Southall
Middlesex
UB1 1RE
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