Company No: 10038727 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	31,645		3,059
Investment property	4	5,879,474		5,879,474
Investments	5	8,489,859		8,489,859
		14,400,978		14,372,392
Current assets
Debtors	6	6,538,943		6,648,805
Cash at bank and in hand		65,368		35,267
		6,604,311		6,684,072
Creditors: amounts falling due within one year	7	( 19,519,150)		( 13,466,365)
Net current liabilities		(12,914,839)		(6,782,293)
Total assets less current liabilities		1,486,139		7,590,099
Creditors: amounts falling due after more than one year	8	( 1,234,158)		( 6,928,777)
Provision for liabilities	9	( 66,876)		( 66,876)
Net assets		185,105		594,446
Capital and reserves
Called-up share capital	10	1,000		1,000
Revaluation reserve		215,359		215,359
Capital contribution reserve		788,844		788,844
Profit and loss account		( 820,098 )		( 410,757 )
Total shareholders' funds		185,105		594,446

For the financial year ending 30 September 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 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 Parkview Asset Management Limited (registered number: 10038727) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

I O Khatri Director

19 September 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 year, unless otherwise stated.

General information and basis of accounting

Parkview Asset Management Limited (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, N3 1XW, United Kingdom.

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 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 is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	4 years straight line
Computer equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	2		2

3. Tangible assets

	Plant and machinery		Computer equipment		Total
	£		£		£
Cost
At 01 October 2023	0		6,118		6,118
Additions	35,000		0		35,000
At 30 September 2024	35,000		6,118		41,118
Accumulated depreciation
At 01 October 2023	0		3,059		3,059
Charge for the financial year	4,375		2,039		6,414
At 30 September 2024	4,375		5,098		9,473
Net book value
At 30 September 2024	30,625		1,020		31,645
At 30 September 2023	0		3,059		3,059

4. Investment property

	Investment property
	£
Valuation
As at 01 October 2023	5,879,474
As at 30 September 2024	5,879,474

5. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 October 2023	8,489,859
At 30 September 2024	8,489,859
Carrying value at 30 September 2024	8,489,859
Carrying value at 30 September 2023	8,489,859

6. Debtors

	2024		2023
	£		£
Trade debtors	32,050		17,800
Amounts owed by group undertakings	1,153,708		1,199,953
Other debtors	5,353,185		5,431,052
	6,538,943		6,648,805

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	4,543,300		332,500
Trade creditors	36,534		25,014
Amounts owed to group undertakings	38,884		50,000
Other creditors	14,900,432		13,058,851
	19,519,150		13,466,365

The bank loans are secured by a fixed charge on the properties held in each of the 6 wholly owned subsidiaries.

8. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	6,719		5,714,166
Other creditors	1,227,439		1,214,611
	1,234,158		6,928,777

9. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 66,876)		( 66,876)
At the end of financial year	( 66,876)		( 66,876)

10. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
950 Ordinary shares of £ 1.00 each	950		950
50 Ordinary B shares of £ 1.00 each	50		50
	1,000		1,000

11. Related party transactions

Transactions with the entity's directors

	2024		2023
	£		£
Other creditors	16,120,151		14,234,572

Included within other creditors are the above balances owed to close family members of the directors. The balance is secured and interest free with no fixed repayment terms.