Caseware UK (AP4) 2024.0.164 2024.0.164 UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR 2024-09-30 2024-09-30 Pargat Property Limited (the 'Company') is a private company limited by shares incorporated in England and Wales. The Company's registered number is 10948255. The Company's registered office address is Pargat House, 40 Birmingham Road, West Bromwich, B71 4JZ. The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £. No description of principal activity The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments. Other financial assets Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.The 2023 valuations were made by Independent valuers, on an open market value for existing use basis. The directors believe that the valuations carried out in 2023 still reflect the fair value of the investment properties as at 30 September 2024.2864257 2867696 2023-10-01 false 0 0 true true The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10948255 2023-10-01 2024-09-30 10948255 2022-10-01 2023-09-30 10948255 2024-09-30 10948255 2023-09-30 10948255 1 2023-10-01 2024-09-30 10948255 d:Director1 2023-10-01 2024-09-30 10948255 c:FreeholdInvestmentProperty 2024-09-30 10948255 c:FreeholdInvestmentProperty 2023-09-30 10948255 c:CurrentFinancialInstruments 2024-09-30 10948255 c:CurrentFinancialInstruments 2023-09-30 10948255 c:CurrentFinancialInstruments c:WithinOneYear 2024-09-30 10948255 c:CurrentFinancialInstruments c:WithinOneYear 2023-09-30 10948255 c:ShareCapital 2024-09-30 10948255 c:ShareCapital 2023-09-30 10948255 c:RevaluationReserve 2023-10-01 2024-09-30 10948255 c:RevaluationReserve 2024-09-30 10948255 c:RevaluationReserve 2023-09-30 10948255 c:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 10948255 c:RetainedEarningsAccumulatedLosses 2024-09-30 10948255 c:RetainedEarningsAccumulatedLosses 2023-09-30 10948255 c:AcceleratedTaxDepreciationDeferredTax 2024-09-30 10948255 c:AcceleratedTaxDepreciationDeferredTax 2023-09-30 10948255 c:OtherDeferredTax 2024-09-30 10948255 c:OtherDeferredTax 2023-09-30 10948255 d:OrdinaryShareClass1 2023-10-01 2024-09-30 10948255 d:OrdinaryShareClass1 2024-09-30 10948255 d:OrdinaryShareClass1 2023-09-30 10948255 d:FRS102 2023-10-01 2024-09-30 10948255 d:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 10948255 d:FullAccounts 2023-10-01 2024-09-30 10948255 d:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 10948255 e:PoundSterling 2023-10-01 2024-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10948255 PARGAT PROPERTY LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 30 SEPTEMBER 2024
PARGAT PROPERTY LIMITED REGISTERED NUMBER: 10948255 BALANCE SHEET AS AT 30 SEPTEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investment property | 4 |  | 17,700,005 |  | 17,700,005
|  |  | 17,700,005 |  | 17,700,005
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 3,698,923 |  | 133,185 |
Cash at bank and in hand | 6 | 192,459 |  | 2,143,581 |
|  | 3,891,382 |  | 2,276,766 |
Creditors: amounts falling due within one year | 7 | (1,356,740) |  | (264,534) |
Net current assets |  |  | 2,534,642 |  | 2,012,232
Total assets less current liabilities |  |  | 20,234,647 |  | 19,712,237
Provisions for liabilities |  |  |  |  |
Deferred tax | 8 | (2,854,520) |  | (2,872,865) |
|  |  | (2,854,520) |  | (2,872,865)
Net assets |  |  | 17,380,127 |  | 16,839,372
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 6,200,000 |  | 6,200,000
Revaluation reserve | 10 |  | 10,101,703 |  | 10,101,703
Profit and loss account | 10 |  | 1,078,424 |  | 537,669
|  |  | 17,380,127 |  | 16,839,372
The directors consider 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 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. The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. Page 1
PARGAT PROPERTY LIMITED REGISTERED NUMBER: 10948255 BALANCE SHEET (CONTINUED) AS AT 30 SEPTEMBER 2024 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 statement of comprehensive income 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 by:
B Singh
Director
Date: 5 September 2025
The notes on pages 3 to 9 form part of these financial statements. Page 2
PARGAT PROPERTY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
1. | General information
Pargat Property Limited (the 'Company') is a private company limited by shares incorporated in England and Wales. The Company's registered number is 10948255. The Company's registered office address is Pargat House, 40 Birmingham Road, West Bromwich, B71 4JZ. The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £. 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 judgement in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | Going concern
As at 30 September 2024, the Company has a strong net assets position of 17,544,149. As a result the Directors believe it is appropriate to continue to adopt the going concern basis for preparing the financial statements.
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. Page 3
PARGAT PROPERTY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 2.Accounting policies (continued)
| 2.4 | 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: 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.
| 2.5 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. 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. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.6 | 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. Page 4
PARGAT PROPERTY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 2.Accounting policies (continued)
| 2.7 | 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.
| 2.8 | 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.
| 2.9 | 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.
| 2.10 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.11 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments. Page 5
PARGAT PROPERTY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 2.Accounting policies (continued)
| 2.11 | Financial instruments (continued)
Other financial assets Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment. Impairment of financial assets Financial assets are assessed for indicators of impairment at each reporting date. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
| 2.12 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Page 6
PARGAT PROPERTY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
3. | Employees
| The Company has no employees other than the directors, who did not receive any remuneration (2023 - £Nil).
4. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 1 October 2023 | 17,700,005
| At 30 September 2024 | 17,700,005
The 2023 valuations were made by Independent valuers, on an open market value for existing use basis. The directors believe that the valuations carried out in 2023 still reflect the fair value of the investment properties as at 30 September 2024.
5. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 164,836 | 127,650
| Other debtors | 2,600,000 | -
| Prepayments and accrued income | 56,587 | 5,535
| Tax recoverable | 877,500 | -
|  | 3,698,923 | 133,185
6. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 192,459 | 2,143,581
|  | 192,459 | 2,143,581
Page 7
PARGAT PROPERTY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 216,472 | 31,867
| Corporation tax | 1,059,728 | 183,544
| Other taxation and social security | 47,460 | 49,123
| Other creditors | 33,080 | -
|  | 1,356,740 | 264,534
8. | Deferred taxation
|  | 2024
|  | £
| At beginning of year | (2,872,865)
| Charged to profit or loss | 18,345
| At end of year | (2,854,520)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Accelerated capital allowances | 9,737 | (5,169)
| Capital gains | (2,867,705) | (2,867,705)
| Losses and other deductions | 3,448 | 9
|  | (2,854,520) | (2,872,865)
9. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 620,000,000,000 (2023 - 620,000,000,000) Ordinary A shares of £0.00001 each | 6,200,000 | 6,200,000
Page 8
PARGAT PROPERTY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
10. | Reserves
Revaluation reserve This reserve represents the fair value movement on investment properties. Profit and loss account This reserve represents cumulative profits and losses.
11. | Related party transactions
| During the year the company received rental income of £54,713 (2023: £141,672) in respect of properties owned by the directors. No amounts are included in the profit and loss account in respect of this. This was still due to the directors at the year end. During the year, advances totalling £2,600,000 were made to the Directors N Kaur and M Singh. As at 30 September 2024, £2,600,000 remains owing to the Company and is included within other debtors. No interest is being charged on this balance and it is repayable on demand.
12. | Post balance sheet events
There have been no significant events affecting the Company since the year end.
13. | Controlling party
The ultimate controlling parties are Mr B Singh, Ms N Kaur, Mr I Singh and Mr R Singh.
Page 9