REGISTERED NUMBER: 12370195 (England and Wales)

PARLIAMENT SQUARE (LIVERPOOL) RESIDENCES

LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr I S Kang

Mrs A K Kang

REGISTERED OFFICE:

Pinnacle House

1 Pinnacle Way

Derby

DE24 8ZS

REGISTERED NUMBER:

12370195 (England and Wales)

ACCOUNTANTS:

Duncan and Toplis Limited

Pinnacle House

1 Pinnacle Way,

Derby

Derbyshire

DE24 8ZS

FIXED ASSETS

Tangible assets

4

7,734

10,312

Investment property

5

1,010,000

910,000

1,017,734

920,312

CURRENT ASSETS

Debtors

6

10,586

6,329

Cash at bank and in hand

5,436

5,292

16,022

11,621

CREDITORS

Amounts falling due within one year

7

5,390

10,264

NET CURRENT ASSETS

10,632

1,357

TOTAL ASSETS LESS CURRENT LIABILITIES

1,028,366

921,669

CREDITORS

Amounts falling due after more than one year

8

(786,607

)

(788,007

)

PROVISIONS FOR LIABILITIES

(58,061

)

(33,061

)

NET ASSETS

183,698

100,601

CAPITAL AND RESERVES

Called up share capital

10

2

2

Non distributable reserve

11

174,184

99,184

Retained earnings

9,512

1,415

SHAREHOLDERS' FUNDS

183,698

100,601

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

Mr I S Kang - Director

1.	STATUTORY INFORMATION

Parliament Square (Liverpool) Residences Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 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 receivable.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Furniture, fixtures and fittings

-

25% on reducing balance

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.

A transfer is made from retained earnings to the non distributable reserve for the amount of any market value surplus or deficit net of deferred tax provided.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Furniture,

fixtures

and

fittings

£

COST

At 1 January 2024

and 31 December 2024

17,000

DEPRECIATION

At 1 January 2024

6,688

Charge for year

2,578

At 31 December 2024

9,266

NET BOOK VALUE

At 31 December 2024

7,734

At 31 December 2023

10,312

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

910,000

Revaluations

100,000

At 31 December 2024

1,010,000

NET BOOK VALUE

At 31 December 2024

1,010,000

At 31 December 2023

910,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

232,245

Cost

777,755

1,010,000

If investment properties had not been revalued they would have been included at the following historical cost:

31.12.24

31.12.23

£

£

Cost

777,755

777,755

Investment properties were valued on an open market basis on 31 December 2024 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

3,600

3,600

Directors' current accounts

3,500

142

Prepayments and accrued income

3,486

2,587

10,586

6,329

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

1,586

7,111

Tax

2,504

1,901

Other creditors

472

472

Accruals and deferred income

828

780

5,390

10,264

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

471,311

471,311

Other loans

315,296

316,696

786,607

788,007

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans

471,311

471,311

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

471,311

471,311

The bank loans are secured by charges on the investment properties.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

2

Ordinary

£1

2

2

11.

RESERVES

Non

distributable

reserve

£

At 1 January 2024

99,184

Transfer between reserves

75,000

At 31 December 2024

174,184

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

Mr I S Kang and Mrs A K Kang

Balance outstanding at start of year

142

-

Amounts advanced

3,500

1,342

Amounts repaid

(142

)

(1,200

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

3,500

142

The outstanding advances were repaid within nine months of the year end.