Parkes Properties Ltd - Filleted accounts

Registered number

11101136

Parkes Properties Ltd

Unaudited Filleted Accounts

31 December 2024

Parkes Properties Ltd
Registered number:		11101136
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Investment property	4		2,004,902			1,835,577

Current assets
Debtors	5	25,275			12,628
Cash at bank and in hand		413			14,341
		25,688			26,969

Creditors: amounts falling due within one year	6	(281,186)			(205,930)

Net current liabilities			(255,498)			(178,961)

Total assets less current liabilities			1,749,404			1,656,616

Creditors: amounts falling due after more than one year	7		(1,324,705)			(1,262,682)

Provisions for liabilities			(88,935)			(88,935)


Net assets			335,764			304,999

Capital and reserves
Called up share capital			12			12
Profit and loss account			335,752			304,987

Shareholders' funds			335,764			304,999

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr A Parkes
Director
Approved by the board on 29/09/2025.

Parkes Properties Ltd
Notes to the Accounts
for the year ended 31 December 2024


1	Statutory information

	Parkes Properties Ltd is a private company, limited by shares, registered in England and Wales.

	The company's registered number and registered office address are as below:

	Registered number:	11101136

	Registered office:	4 Rose Bank
		Burley In Wharfedale
		Ilkley
		LS29 7PQ

	The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1.


2	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

	Turnover
	Turnover represents rents received and receivable, excluding VAT.

	Investment property
	Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.


2	Accounting policies (continued)

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.

	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

	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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


3	Employees		2024		2023
Number				Number

	Average number of persons employed by the company		2		2


4	Investment property
Total
£
	Fair value
	At 1 January 2024				1,835,577
	Additions				169,325

	At 31 December 2024				2,004,902

	Historical cost
	At 1 January 2024				1,479,837
	At 31 December 2024				1,649,162

	The investment property was valued on an open market basis on 31 December 2024 by the directors.


5	Debtors		2024		2023
£				£

	Trade debtors		19,025		7,028
	Other debtors		6,250		5,600
			25,275		12,628


6	Creditors: amounts falling due within one year		2024		2023
£				£

	Bank loans and overdrafts		34,933		17,332
	Directors' current account		219,812		173,812
	Accruals and deferred income		1,250		1,124
	Taxation and social security costs		14,875		8,062
	Other creditors		10,316		5,600
			281,186		205,930


7	Creditors: amounts falling due after one year		2024		2023
£				£

	Bank loans		1,324,705		1,262,682


8	Loans		2024		2023
£				£
	Creditors include:
	Instalments falling due for payment after more than five years		1,164,579		1,155,037


	Secured bank loans		1,355,296		1,272,850

	Bank loans are secured over the properties to which they relate.


9	Related party transactions

	During the year £76,200 (2023: £17,500) was advanced from and £30,200 (2023: £38,816) was repaid to the directors. An amount of £219,812 (2023: £173,812) remained due to the directors at the year end.