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REGISTERED NUMBER: 02984119 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2024 TO 30 MARCH 2025

FOR

PARKS RESIDENTIAL LIMITED

PARKS RESIDENTIAL LIMITED (REGISTERED NUMBER: 02984119)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2024 TO 30 MARCH 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PARKS RESIDENTIAL LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2024 TO 30 MARCH 2025







DIRECTOR: I Drozdov





REGISTERED OFFICE: 15 West Street
Brighton
East Sussex
BN1 2RL





REGISTERED NUMBER: 02984119 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
15 West Street
Brighton
East Sussex
BN1 2RL

PARKS RESIDENTIAL LIMITED (REGISTERED NUMBER: 02984119)

BALANCE SHEET
30 MARCH 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 37,378 27,357
Investment property 6 - 149,678
37,378 177,035

CURRENT ASSETS
Debtors 7 453,812 202,250
Cash at bank and in hand 128,939 100,550
582,751 302,800
CREDITORS
Amounts falling due within one year 8 100,992 79,189
NET CURRENT ASSETS 481,759 223,611
TOTAL ASSETS LESS CURRENT LIABILITIES 519,137 400,646

CREDITORS
Amounts falling due after more than one year 9 (16,131 ) (7,814 )

PROVISIONS FOR LIABILITIES 11 (9,345 ) (3,139 )
NET ASSETS 493,661 389,693

CAPITAL AND RESERVES
Called up share capital 1,103 1,103
Fair value reserve - 7,923
Retained earnings 492,558 380,667
493,661 389,693

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 March 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 May 2025 and were signed by:





G M Jasper - Director


PARKS RESIDENTIAL LIMITED (REGISTERED NUMBER: 02984119)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2024 TO 30 MARCH 2025


1. STATUTORY INFORMATION

Parks Residential Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents tenancy and property management fees, stated net of discounts and value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES

The average number of employees during the period was 11 (2024 - 14 ) .

PARKS RESIDENTIAL LIMITED (REGISTERED NUMBER: 02984119)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 30 MARCH 2025


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 30 March 2025 65,000
AMORTISATION
At 1 April 2024
and 30 March 2025 65,000
NET BOOK VALUE
At 30 March 2025 -
At 31 March 2024 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2024 65,275 88,421 40,680 34,767 229,143
Additions - - 43,390 1,216 44,606
Disposals - - (42,716 ) - (42,716 )
At 30 March 2025 65,275 88,421 41,354 35,983 231,033
DEPRECIATION
At 1 April 2024 65,275 79,568 24,102 32,841 201,786
Charge for period - 1,326 363 1,006 2,695
Eliminated on disposal - - (10,826 ) - (10,826 )
At 30 March 2025 65,275 80,894 13,639 33,847 193,655
NET BOOK VALUE
At 30 March 2025 - 7,527 27,715 2,136 37,378
At 31 March 2024 - 8,853 16,578 1,926 27,357

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2024 149,678
Disposals (149,678 )
At 30 March 2025 -
NET BOOK VALUE
At 30 March 2025 -
At 31 March 2024 149,678

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 357 11,634
Amounts owed by group undertakings 172,145 99,861
Other debtors - 4,613
Directors' current accounts 276,330 85,888
Accrued income 2,998 -
Prepayments 1,982 254
453,812 202,250

PARKS RESIDENTIAL LIMITED (REGISTERED NUMBER: 02984119)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 30 MARCH 2025


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Hire purchase contracts (see note 10) 4,730 3,191
Trade creditors 422 3,610
Tax 57,161 31,970
VAT 29,463 30,213
Other creditors 1,591 1,931
Directors' current accounts - 6,373
Deferred income 3,842 -
Accrued expenses 3,783 1,901
100,992 79,189

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Hire purchase contracts (see note 10) 16,131 7,814

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025 2024
£    £   
Gross obligations repayable:
Within one year 6,371 3,191
Between one and five years 17,067 7,814
23,438 11,005

Finance charges repayable:
Within one year 1,641 -
Between one and five years 936 -
2,577 -

Net obligations repayable:
Within one year 4,730 3,191
Between one and five years 16,131 7,814
20,861 11,005

11. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 9,345 3,139

Deferred
tax
£   
Balance at 1 April 2024 3,139
Provided during period 6,206
Balance at 30 March 2025 9,345

PARKS RESIDENTIAL LIMITED (REGISTERED NUMBER: 02984119)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 30 MARCH 2025


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 30 March 2025 and the year ended 31 March 2024:

2025 2024
£    £   
G M Jasper
Balance outstanding at start of period 40,534 (14 )
Amounts advanced 187,235 142,125
Amounts repaid (72,526 ) (101,577 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 155,243 40,534

M Jasper
Balance outstanding at start of period 45,354 (14 )
Amounts advanced 145,233 145,498
Amounts repaid (69,500 ) (100,130 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 121,087 45,354

A Rummins
Balance outstanding at start of period (6,373 ) (1,873 )
Amounts advanced 11,473 -
Amounts repaid (5,100 ) (4,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - (6,373 )

13. POST BALANCE SHEET EVENTS

On 31 March 2025, shares in this entity's holding company were acquired by a third party. The directors and secretary have since resigned, and therefore, the accounts have been drawn up to 30 March 2025 to reflect the completion and sign off for the sale.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Parks Residential (Holdings) Limited.

This was by virtue of their 100% holding of the issued share capital.