Parc Le Breos Properties Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07553378

Parc Le Breos Properties Limited

Filleted Unaudited Financial Statements

31 December 2024

Parc Le Breos Properties Limited

Financial Statements

Year ended 31 December 2024

CONTENTS	PAGE

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

Parc Le Breos Properties Limited

Officers and Professional Advisers

The board of directors	Mr K Edwards
	Mr G Edwards

Registered office	Parc Le Breos House Parkmill
	Penmaen
	Swansea
	Wales
	SA3 2HA

Accountants	James & Uzzell Ltd
	Chartered Certified Accountants
	Axis 15, Axis Court
	Mallard Way
	Riverside Business Park
	Swansea
	SA7 0AJ

Parc Le Breos Properties Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

FIXED ASSETS

Tangible assets	4	2,856,611	2,856,611

CURRENT ASSETS

Debtors	5	1	1
Cash at bank and in hand		8,111	7,920
		------	------
		8,112	7,921

CREDITORS: amounts falling due within one year	6	1,128,069	1,079,973
		------------	------------
NET CURRENT LIABILITIES		1,119,957	1,072,052
		------------	------------
TOTAL ASSETS LESS CURRENT LIABILITIES		1,736,654	1,784,559

CREDITORS: amounts falling due after more than one year	7	–	77,150

PROVISIONS	345,988	345,878
	------------	------------
NET ASSETS	1,390,666	1,361,531
	------------	------------

CAPITAL AND RESERVES

Called up share capital	8	1	1
Revaluation reserve		1,026,463	1,026,463
Profit and loss account		364,202	335,067
		------------	------------
SHAREHOLDERS FUNDS		1,390,666	1,361,531
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

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.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Parc Le Breos Properties Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 15 August 2025 , and are signed on behalf of the board by:

Kerry Edwards

Director

Company registration number: 07553378

Parc Le Breos Properties Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. GENERAL INFORMATION

Parc Le Breos Properties Limited is a private company limited by shares incorporated in England & Wales, United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements. The nature of the company's operations and principal activities is the rental of property.

2. STATEMENT OF COMPLIANCE

The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102)', Section 1A for Small Entities and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. The reporting period of these financial statements are 12 months and its comparative period is 12 months. These financial statements only include the results of the individual entity made up to 31 December 2024. 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.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Going concern

The director has considered the future trading position of the company and is confident that the going concern principle can be applied to the financial statements.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Critical accounting estimates and assumptions

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets.

(ii) Impairment of debtors

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets.

(iii) Provisions

Estimates are used in determining the value of provisions when recognised. This will be based on historical information, known expectations and reasonable outcomes.

(iv) Going Concern

The assessment of going concern may include the use of critical judgements in respect of impact of various external factors such as political, economic and social issues. Material uncertainties are considered in this regard.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Rent receivable is recognised when an invoice is raised at the beginning of the rental period.

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold Property - 0%

Tangible assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

4. TANGIBLE ASSETS

	Freehold property
	£
Cost
At 1 January 2024 and 31 December 2024	2,856,611
	------------
Depreciation
At 1 January 2024 and 31 December 2024	–
	------------
Carrying amount
At 31 December 2024	2,856,611
	------------
At 31 December 2023	2,856,611
	------------

Net book value of land and buildings at the year end comprised:

	2024	2023
	£	£
Investment Property	2,856,611	2,856,611
	------------	------------

Cost or valuation of investment properties comprises:

		2024
		£
	Cost	1,499,611
	Revaluation	1,357,000
		------------
		2,856,611
		------------

The comparable amounts determined according to the historical cost convention are as follows:

		2024
		£
	Cost	1,499,611
	Revaluation	1,357,000
		------------
		2,856,611
		------------

5. DEBTORS

	2024	2023
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	1	1
	----	----

6. CREDITORS: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	–	19,427
Amounts owed to group undertakings and undertakings in which the company has a participating interest	733,242	665,973
Corporation tax	9,114	6,071
Other creditors	385,713	388,502
	------------	------------
	1,128,069	1,079,973
	------------	------------

The bank loans are secured. The aggregate amount of secured liabilities is £0 (2023 : £19,427)

7. CREDITORS: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	–	77,150
	----	--------

The aggregate amount of secured liabilities is £0 (2023 : £77,150)

8. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

9. RELATED PARTY TRANSACTIONS

Key Management Personnel The total due from the company to the directors at the year end was £376,063 (2023: £376,063 Cr). No interest has been incurred in relation to this balance. Exemption under Section 33.1A has been claimed to not disclose transactions for 100% group companies

10. PARENT COMPANY

The ultimate parent company is Parc Le Breos Holdings Limited, a company registered in Great Britain. The registered office of Parc Le Breos Holdings Limited is Parc Le Breos House Parkmill, Penmaen, Swansea, Wales, SA3 2HA