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COMPANY REGISTRATION NUMBER: 04052715
THE PARKS MANAGEMENT COMPANY LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 October 2024
THE PARKS MANAGEMENT COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION
31 October 2024
2024
2023
Note
£
£
£
CURRENT ASSETS
Debtors
4
5,307
8,180
Cash at bank and in hand
4,708
77
---------
--------
10,015
8,257
CREDITORS: amounts falling due within one year
5
9,992
8,234
---------
--------
NET CURRENT ASSETS
23
23
-----
-----
TOTAL ASSETS LESS CURRENT LIABILITIES
23
23
-----
-----
NET ASSETS
23
23
-----
-----
CAPITAL AND RESERVES
Called up share capital
23
23
-----
-----
SHAREHOLDERS FUNDS
23
23
-----
-----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
THE PARKS MANAGEMENT COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 24 June 2025 , and are signed on behalf of the board by:
N J Thornton
Director
Company registration number: 04052715
THE PARKS MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OCTOBER 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O Parkinson Property, Third Floor Reception Office, Bridge Square Apartments, Lancaster, LA1 1BB.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
4. DEBTORS
2024
2023
£
£
Prepayments and accrued income
5,307
5,820
Service charges owing
2,360
--------
--------
5,307
8,180
--------
--------
5. CREDITORS: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
3,978
1,561
Other creditors
5,464
6,673
Service charges in advance
550
--------
--------
9,992
8,234
--------
--------
Other creditors relates to the money held by the company on behalf of the property owners (shareholders) of The Parks Management Company Limited.
6. RELATED PARTY TRANSACTIONS
Each shareholder is also a tenant and member of The Parks Management Company Limited.