Company No: 00771032 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.03.2025		29.03.2024
		£		£
Fixed assets
Investment property	3	945,000		1,789,523
		945,000		1,789,523
Current assets
Debtors	4	299,750		303,061
Cash at bank and in hand		52,643		78,960
		352,393		382,021
Creditors: amounts falling due within one year	5	( 27,118)		( 34,701)
Net current assets		325,275		347,320
Total assets less current liabilities		1,270,275		2,136,843
Provision for liabilities		( 147,600)		( 358,700)
Net assets		1,122,675		1,778,143
Capital and reserves
Called-up share capital	6	8,000		8,000
Capital redemption reserve		2,000		2,000
Profit and loss account		1,112,675		1,768,143
Total shareholders' funds		1,122,675		1,778,143

For the financial period ending 31 March 2025 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 period 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 Parlington Properties Limited (registered number: 00771032) were approved and authorised for issue by the Board of Directors on 01 November 2025. They were signed on its behalf by:

Mr T F A Winfrey Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Parlington Properties 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 The View, Diptford, Totnes, TQ9 7LX, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of rental income receivable in the ordinary course of the company's activities. Turnover is shown net of discounts and value added tax.

The company recognises revenue in the period to which it relates with, accrued and deferred income being adjusted as necessary.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Leasing incentives

The company may provide incentives to enter into new lease agreements. These incentives may take the form of an initial rent free or reduced rent period. In accordance with the accounting treatment for lease incentives, the rent free or reduced rent period is allocated on a straight line basis over the full lease term or where a lease commenced prior to the date of transition to Section 1A of FRS 102, up to the rent review date.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

	Period from 30.03.2024 to 31.03.2025		Year ended 29.03.2024
	Number		Number
Monthly average number of persons employed by the Company during the period, including directors	5		5

3. Investment property

	Investment property
	£
Valuation
As at 30 March 2024	1,789,523
Fair value movement	(844,523)
As at 31 March 2025	945,000

Valuation

The directors confirmed the valuation of all investment properties, taking into account the open market conditions as at 31 March 2025.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	31.03.2025		29.03.2024
	£		£
Historic cost	101,273		101,273

4. Debtors

	31.03.2025		29.03.2024
	£		£
Trade debtors	0		19,000
Amounts owed by connected companies	294,650		279,514
Amounts owed by related parties	4,201		4,201
Prepayments	799		246
Other debtors	100		100
	299,750		303,061

5. Creditors: amounts falling due within one year

	31.03.2025		29.03.2024
	£		£
Trade creditors	423		324
Amounts owed to Group undertakings	113		951
Accruals and deferred income	16,085		21,426
Taxation and social security	10,497		12,000
	27,118		34,701

6. Called-up share capital

	31.03.2025		29.03.2024
	£		£
Allotted, called-up and fully-paid
8,000 Ordinary shares of £ 1.00 each	8,000		8,000

7. Reserves

	31.03.2025		29.03.2024
	£		£
Unrealised gain	843,727		1,688,250
Less: Deferred tax	(147,611)		(358,700)
	696,116		1,329,550

Included within the company's profit and loss account are non distributable reserves which comprise of unrealised
gains and losses on investments held at fair value, together with any deferred tax provided on these unrealised
amounts.