Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-302023-10-01false1falseBuying and selling of own real estatetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11574568 2023-10-01 2024-09-30 11574568 2022-12-01 2023-09-30 11574568 2024-09-30 11574568 2023-09-30 11574568 c:Director1 2023-10-01 2024-09-30 11574568 d:FreeholdInvestmentProperty 2023-10-01 2024-09-30 11574568 d:FreeholdInvestmentProperty 2024-09-30 11574568 d:FreeholdInvestmentProperty 2023-09-30 11574568 d:CurrentFinancialInstruments 2024-09-30 11574568 d:CurrentFinancialInstruments 2023-09-30 11574568 d:Non-currentFinancialInstruments 2024-09-30 11574568 d:Non-currentFinancialInstruments 2023-09-30 11574568 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 11574568 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 11574568 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 11574568 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 11574568 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-09-30 11574568 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-09-30 11574568 d:ShareCapital 2024-09-30 11574568 d:ShareCapital 2023-09-30 11574568 d:RetainedEarningsAccumulatedLosses 2024-09-30 11574568 d:RetainedEarningsAccumulatedLosses 2023-09-30 11574568 c:FRS102 2023-10-01 2024-09-30 11574568 c:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 11574568 c:FullAccounts 2023-10-01 2024-09-30 11574568 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 11574568 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 11574568









PARKER KNIGHT DEVELOPMENTS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
PARKER KNIGHT DEVELOPMENTS LTD
 
 
  
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PARKER KNIGHT DEVELOPMENTS LTD
FOR THE YEAR ENDED 30 SEPTEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Parker Knight Developments Ltd for the year ended 30 September 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the director of Parker Knight Developments Ltd in accordance with the terms of our engagement letter dated 24 May 2025Our work has been undertaken solely to prepare for your approval the financial statements of Parker Knight Developments Ltd and state those matters that we have agreed to state to the director of Parker Knight Developments Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Parker Knight Developments Ltd and its director for our work or for this report. 

It is your duty to ensure that Parker Knight Developments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Parker Knight Developments Ltd. You consider that Parker Knight Developments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Parker Knight Developments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Fraser Russell Limited
 
77 Francis Road
Edgbaston
Birmingham
B16 8SP
27 June 2025
Page 1

 
PARKER KNIGHT DEVELOPMENTS LTD
REGISTERED NUMBER: 11574568

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
461,083
171,889

  
461,083
171,889

Current assets
  

Debtors: amounts falling due within one year
 5 
63,423
30,000

Cash at bank and in hand
  
1,011
102,192

  
64,434
132,192

Creditors: amounts falling due within one year
 7 
(445,006)
(226,321)

Net current liabilities
  
 
 
(380,572)
 
 
(94,129)

Total assets less current liabilities
  
80,511
77,760

Creditors: amounts falling due after more than one year
 8 
(33,389)
(38,620)

  

Net assets
  
47,122
39,140


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
47,022
39,040

  
47,122
39,140


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 June 2025.

Page 2

 
PARKER KNIGHT DEVELOPMENTS LTD
REGISTERED NUMBER: 11574568
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024




Razak Hussain
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
PARKER KNIGHT DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Parker Knight Developments Ltd is a company limited by shares incorporated in England within the United Kingdom, having a registration of 11574568. The address of the registered office is 13 Amethyst Road, Newcastle Business Park, Newcastle Upon Tyne, England, NE4 7YL. The principal activity of the company in the year under review was that of a buying and selling of own real estate.
The financial statements are presented in sterling which is functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements has been prepared on a going concern basis which assumes that the company will continue to receive support from creditors and the director as and when required.

Page 4

 
PARKER KNIGHT DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


Page 5

 
PARKER KNIGHT DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:


The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers 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. Changes in fair value are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 6

 
PARKER KNIGHT DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Dividends


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Employee
1
-


4.


Investment property


Freehold investment property

£



Valuation


At 1 October 2023
171,889


Additions at cost
289,194



At 30 September 2024
461,083

The 2024 valuations were made by directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
461,083
171,889

461,083
171,889


5.


Debtors

2024
2023
£
£

Page 7

 
PARKER KNIGHT DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.Debtors (continued)


Other debtors
63,423
30,000

63,423
30,000



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,011
102,192

1,011
102,192



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
14,217
-

Corporation tax
1,177
9,863

Other creditors
428,922
215,768

Accruals and deferred income
690
690

445,006
226,321



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
33,389
38,620

33,389
38,620


Page 8

 
PARKER KNIGHT DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Other loans
33,389
38,620

33,389
38,620

33,389
38,620



10.


Related party transactions

Razak Hussain is a director and shareholder of Hanover Social Housing Ltd.
During the period Hanover Social Housing Ltd provided loans of £13,842 to the Company. As at the balance sheet date, the company was owed £13,842 (2023:£nil), which is shown in Other Creditors due within one year.
The above balance is payable on demand and therefore there are no significant differences between the value of the original loan amount and the initial carrying value of the loan as shown in the balance sheet.
Razak Hussain is a director and shareholder of Tik Tok Property Developments Ltd.
During the period Company has provided loans of £nil to the Tik Tok Property Developments Ltd. As at the balance sheet date, the company owed £30,000 (2023:£30,000l), which is shown in Other Debtors due within one year.
The above balance is payable on demand and therefore there are no significant differences between the value of the original loan amount and the initial carrying value of the loan as shown in the balance sheet.


11.


Controlling party

During the year, the company was under the control of Razak Hussain, who is the sole director and shareholder of the company.

 
Page 9