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REGISTERED NUMBER: 02673157 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PARC PROPERTIES LIMITED

PARC PROPERTIES LIMITED (REGISTERED NUMBER: 02673157)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PARC PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: P G Plunkett
D Plunkett





REGISTERED OFFICE: 1 Parc Studios
King Street
Bishop'S Stortford
CM23 2NB





REGISTERED NUMBER: 02673157 (England and Wales)





ACCOUNTANTS: Barker Wilkinson Limited
19-21 Middle Row
Stevenage
Hertfordshire
SG1 3AW

PARC PROPERTIES LIMITED (REGISTERED NUMBER: 02673157)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 616 879
Investment property 5 3,120,000 3,100,000
3,120,616 3,100,879

CURRENT ASSETS
Debtors 6 3,601 5,425
Cash at bank 29,771 24,189
33,372 29,614
CREDITORS
Amounts falling due within one year 7 265,508 321,460
NET CURRENT LIABILITIES (232,136 ) (291,846 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,888,480

2,809,033

PROVISIONS FOR LIABILITIES 189,955 186,155
NET ASSETS 2,698,525 2,622,878

CAPITAL AND RESERVES
Called up share capital 5 5
Fair value reserve 8 832,741 816,541
Retained earnings 8 1,865,779 1,806,332
SHAREHOLDERS' FUNDS 2,698,525 2,622,878

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

PARC PROPERTIES LIMITED (REGISTERED NUMBER: 02673157)

BALANCE SHEET - continued
31 DECEMBER 2024


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 Board of Directors and authorised for issue on 20 August 2025 and were signed on its behalf by:





D Plunkett - Director


PARC PROPERTIES LIMITED (REGISTERED NUMBER: 02673157)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Parc Properties 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.

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 as modified by the revaluation of certain assets.

The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Further, the directors continue to support the company by way of director funding and have not indicated that such support will be withdrawn in the foreseeable future. Therefore the financial statements for the year ended 31st December 2024 have been prepared using the going concern basis of accounting.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 25% reducing balance
Office equipment - 33% reducing balance

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.

Investment property
The company's properties are held for investment purposes. Investment properties are shown at their most recent fair values. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement. Deferred taxation is provided on such gains at the tax rate expected to apply when properties are sold.

Under FRS 102 valuations as above are made under the fair value provisions of the Companies Act 2006 (CA 2006) and consequently the non-depreciation of investment properties is not a departure from the provisions of CA 2006.

The directors determine fair value on an open market for existing use basis.

Rents receivable from investment properties are credited to profit and loss account on a receivable basis.

Investment properties are first recognised in the financial statements once an irrevocable purchase contract has been entered into. A sale of an investment property is recorded once an irrevocable sales contract has been entered into, provided that the sale has been completed by the date the financial statements are approved by the Board.

Investment properties are treated as fixed asset investments until the date of sale.


PARC PROPERTIES LIMITED (REGISTERED NUMBER: 02673157)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year 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 year 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024
and 31 December 2024 42,336
DEPRECIATION
At 1 January 2024 41,457
Charge for year 263
At 31 December 2024 41,720
NET BOOK VALUE
At 31 December 2024 616
At 31 December 2023 879

PARC PROPERTIES LIMITED (REGISTERED NUMBER: 02673157)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 3,100,000
Revaluations 20,000
At 31 December 2024 3,120,000
NET BOOK VALUE
At 31 December 2024 3,120,000
At 31 December 2023 3,100,000

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2023 1,002,696
Valuation in 2024 20,000
Cost 2,097,304
3,120,000

The 2023 valuations were made by a director, Mr P Plunkett, a Chartered Surveyor, on an open market value for existing use basis.

On an historical cost basis these would have been included at £2,097,304 (2023 - £2,097,304).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 3,601 5,425

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 1,562
Tax 19,487 13,944
Other creditors 12,944 9,707
Directors' current accounts 121,687 201,887
Accruals and deferred income 111,390 94,360
265,508 321,460

PARC PROPERTIES LIMITED (REGISTERED NUMBER: 02673157)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 January 2024 1,806,332 816,541 2,622,873
Profit for the year 75,647 75,647
Revaluation to fair value (20,000 ) 20,000 -
Deferred tax on revaluation 3,800 (3,800 ) -
At 31 December 2024 1,865,779 832,741 2,698,520