Parkhill Estates Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02635632

Parkhill Estates Limited

Filleted Financial Statements

31 March 2025

Parkhill Estates Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Statement of changes in equity	3

Notes to the financial statements	4

Parkhill Estates Limited

Officers and Professional Advisers

The board of directors	Mr S Cornes
	Mr D Mullinder
	Mr A Foster

Registered office	Fernhill Estate Office
	Fernhill Road
	Sutton
	Newport
	TF10 8DJ

Auditor	Riverside Accountancy Lancaster Limited
	Chartered accountants & statutory auditor
	Suite 2, 2 Mannin Way
	Lancaster Business Park
	Caton Road
	Lancaster
	LA1 3SU

Bankers	Lloyds
	125 Colmore Row
	Birmingham
	B3 3SD

Parkhill Estates Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	2,606,364	2,598,090

Current assets

Stocks		662,539	563,031
Debtors	6	12,734,317	12,123,700
Cash at bank and in hand		203,423	741,411
		-------------	-------------
		13,600,279	13,428,142

Creditors: amounts falling due within one year	7	8,799,126	8,419,092
		-------------	-------------
Net current assets		4,801,153	5,009,050
		------------	------------
Total assets less current liabilities		7,407,517	7,607,140

Provisions	342	181
	------------	------------
Net assets	7,407,175	7,606,959
	------------	------------

Capital and reserves

Called up share capital	9	1,000	1,000
Profit and loss account		7,406,175	7,605,959
		------------	------------
Shareholders funds		7,407,175	7,606,959
		------------	------------

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.

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.

These financial statements were approved by the board of directors and authorised for issue on 8 December 2025 , and are signed on behalf of the board by:

Mr D Mullinder

Director

Company registration number: 02635632

Parkhill Estates Limited

Statement of Changes in Equity

Year ended 31 March 2025

	Called up share capital	Profit and loss account	Total
	£	£	£
At 1 April 2023	1,000	7,320,870	7,321,870

Profit for the year		285,089	285,089
	-------	------------	------------
Total comprehensive income for the year	–	285,089	285,089

At 31 March 2024	1,000	7,605,959	7,606,959

Loss for the year		( 199,784)	( 199,784)
	-------	------------	------------
Total comprehensive income for the year	–	( 199,784)	( 199,784)

	-------	------------	------------
At 31 March 2025	1,000	7,406,175	7,407,175
	-------	------------	------------

Parkhill Estates Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Fernhill Estate Office, Fernhill Road, Sutton, Newport, TF10 8DJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements are rounded to the nearest £1.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for the sale of land and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Plant and machinery	-	33% Straight line
Equipment	-	33% Straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are in relation to land held for development and are measured at cost. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the land to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately .

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2024: 6 ).

5. Tangible assets

	Freehold property	Plant and machinery	Equipment	Total
	£	£	£	£
Cost
At 1 April 2024	2,597,368	20,972	24,503	2,642,843
Additions	7,628	–	1,331	8,959
	------------	--------	--------	------------
At 31 March 2025	2,604,996	20,972	25,834	2,651,802
	------------	--------	--------	------------
Depreciation
At 1 April 2024	–	20,972	23,781	44,753
Charge for the year	–	–	685	685
	------------	--------	--------	------------
At 31 March 2025	–	20,972	24,466	45,438
	------------	--------	--------	------------
Carrying amount
At 31 March 2025	2,604,996	–	1,368	2,606,364
	------------	--------	--------	------------
At 31 March 2024	2,597,368	–	722	2,598,090
	------------	--------	--------	------------

6. Debtors

	2025	2024
	£	£
Trade debtors	7,175	11,673
Amounts owed by group undertakings and undertakings in which the company has a participating interest	12,707,228	12,088,866
Other debtors	19,914	23,161
	-------------	-------------
	12,734,317	12,123,700
	-------------	-------------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	18,261	37,396
Amounts owed to group undertakings and undertakings in which the company has a participating interest	8,558,177	8,161,395
Social security and other taxes	1,807	1,779
Other creditors	220,881	218,522
	------------	------------
	8,799,126	8,419,092
	------------	------------

8. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions	342	181
	----	----

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	342	181
	----	----

9. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	1,000	1,000	1,000	1,000
	-------	-------	-------	-------

10. Consolidated accounts

The ultimate parent company that produces consolidated accounts is Parkhill 2000 Limited whose registered office is Fernhill Estate Office, Fernhill Road, Sutton, Newport, Shropshire, TF10 8DJ.

11. Charges on assets

At the balance sheet date there were various charges against the company assets in respect of Lloyds Bank delivered in March 1998 and September 2000.

12. Other financial commitments

The company is party to an omnibus guarantee agreement dated 5 June 2025 between Lloyds Bank and connected parties.

13. Summary audit opinion

The auditor's report dated 8 December 2025 was unqualified , however, the auditor drew attention to the following by way of emphasis.

Included within debtors is an amount due from a connected party totalling £6,876,387 which we have some concern over the recoverability of the debts. However, the majority of this balance, the company in question holds land held for development where planning permission is actively being sought. Even without planning, this land will generate income from a sale in the future which would allow it to settle its debts. If the company was not able to repay this debt, this would not prevent Parkhill Estates Limited from continuing its current activities.

The senior statutory auditor was Lyndsay Nicholson FCA , for and on behalf of Riverside Accountancy Lancaster Limited .

14. Related party transactions

Included within debtors are amounts due from connected parties of £12,707,228 (2024 - £12,088,866) Included within creditors are amounts due to connected parties of £8,468,883 (2024 - £8,045,852 )

15. Controlling party

The immediate parent company is Parkhill 2000 Limited , a company registered in England and Wales. The ultimate controlling party is the C Cornes Discretionary Trust.