PARKSIDE EUROPEAN LTD

	Page
Balance Sheet	1
Notes to the Financial Statements	2—3

Registered number: 11043352

		31 December 2024		31 December 2023
	Notes	€	€	€	€
FIXED ASSETS
Investment Properties	4		533,398		437,800

			533,398		437,800
CURRENT ASSETS
Debtors	5	338,539		243,395
Cash at bank and in hand		1,146		24,311

		339,685		267,706
Creditors: Amounts Falling Due Within One Year	6	(663,603 )		(560,428 )

NET CURRENT ASSETS (LIABILITIES)			(323,918 )		(292,722 )

TOTAL ASSETS LESS CURRENT LIABILITIES			209,480		145,078

NET ASSETS			209,480		145,078

CAPITAL AND RESERVES
Called up share capital	7		112		112
Profit and Loss Account			209,368		144,966

SHAREHOLDERS' FUNDS			209,480		145,078

For the 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.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

The financial statements were approved and signed by the director and authorised for issue on 3 September 2025.

Mr Arkadii KULKO

Director

The notes on pages 2 to 3 form part of these financial statements.

1. General Information

PARKSIDE EUROPEAN LTD is a private company, limited by shares, incorporated in England & Wales, registered number 11043352 . The registered office is 3rd Floor Norvin House, 45-55 Commercial Street, London , E1 6BD.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in euro, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest €.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

2.2. Going Concern Disclosure

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

2.3. Turnover

Turnover represents amounts receivable for sales of natural bitumen and kitchen furniture.

2.4. Investment Properties

All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.

2.5. Financial Instruments

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.

2.7. 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 current liabilities.

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PARKSIDE EUROPEAN LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2023: NIL)

4. Investment Property

	31 December 2024
	€
Fair Value
As at 1 January 2024	437,800
Additions	95,598

As at 31 December 2024	533,398

5. Debtors

	31 December 2024	31 December 2023
	€	€
Due within one year
Trade debtors	293,233	199,426
Prepayments and accrued income	6,342	6,075
Other debtors	38,852	37,782
Called up share capital not paid	112	112

	338,539	243,395

6. Creditors: Amounts Falling Due Within One Year

	31 December 2024	31 December 2023
	€	€
Trade creditors	141,797	79,317
Other loans	133,210	133,210
Other creditors	378,562	347,901
Taxation and social security	10,034	-

	663,603	560,428

7. Share Capital

	31 December 2024	31 December 2023
	€	€
Called Up Share Capital not Paid	112	112

Amount of Allotted, Called Up Share Capital	112	112

100 Ordinary shares at £1 each

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