Company No: 01454178 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Current assets
Stocks	3	23,125		49,159
Debtors
- due within one year	4	167,288		128,445
- due after more than one year	4	1,550,000		1,550,000
Cash at bank and in hand		21,515		3,008
		1,761,928		1,730,612
Creditors: amounts falling due within one year	5	( 1,661,828)		( 839,978)
Net current assets		100,100		890,634
Total assets less current liabilities		100,100		890,634
Net assets		100,100		890,634
Capital and reserves
Called-up share capital	6	100		100
Profit and loss account		100,000		890,534
Total shareholder's funds		100,100		890,634

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Parkcity Ltd (registered number: 01454178) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

P Crocker Director

08 August 2025

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Parkcity Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London,, England, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises revenue recongnised by the company in respect of the sale in trading properties, loan arrangement fees and loan interest charged from providing finance to other entities.

Revenue on the sale of a property is recognised when completion of the sales contract occurs during the accounting period.

Loan arrangement fees and loan interest charged are recongnised in the period in which the income relates.

Other income comprises of income recognised by the company in respect of any rent receivable on properties held as trading stock. Rent receivable is recognised in the period in which the income relates.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Stocks

Stock comprises properties help for held for sale as trading stock. Stock is valued at the lower of cost and net realisable value. Cost includes all direct costs associated with the purchase and subsequent improvement of the properties.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Basic financial instruments are held at cost. The company has no other financial instruments or basic financial instruments measured at fair value.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	3		3

3. Stocks

	2024		2023
	£		£
Stocks	23,125		49,159

4. Debtors

	2024		2023
	£		£
Debtors: amounts falling due within one year
Trade debtors	12,275		2,356
Prepayments and accrued income	153,644		99,774
Corporation tax	0		26,315
Other debtors	1,369		0
	167,288		128,445
Debtors: amounts falling due after more than one year
Other debtors	1,550,000		1,550,000

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	0		4,200
Amounts owed to group undertakings	1,257,734		539,594
Accruals and deferred income	2,700		7,668
Corporation tax	30,368		0
Other creditors	371,026		288,516
	1,661,828		839,978

6. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

7. Related party transactions

The disclosure exemption conferred by FRS 102 section Section 33:1A has been utilised, whereby the company has not disclosed transactions with any wholly owned undertakings of the group.

At the period end, the company was owed £1,550,000 (2023: £1,550,000) by companies under common control which is included within trade debtors due over one year. Interest of £61,125 (2023: £52,469) and arrangement fees of £Nil (2023: £6,500) has been charged in the period.

During the period, management charges of £12,829 (2023: 44,811) have been paid to companies under common control.

At the period end, the company owed £371,026 (2023: £288,516) to companies under common control. The amounts are fully repayable on demand.

8. Ultimate controlling party

The immediate parent undertaking is Pearl Finance Limited, a company incorporated and registered in England and Wales. The ultimate parent undertaking is Delph Group Holdings Limited, a company incorporated and registered in England and Wales.