Registration number: 04932271

Litton (Parkgate) Limited

(Registration number: 04932271)

Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Investment properties	3	7,400,000	7,400,000
Current assets
Debtors	4	140,305	166,817
Cash at bank and in hand		68,303	70,746
		208,608	237,563
Creditors: Amounts falling due within one year	5	(209,620)	(277,032)
Net current liabilities		(1,012)	(39,469)
Total assets less current liabilities		7,398,988	7,360,531
Creditors: Amounts falling due after more than one year	5	(4,583,700)	(4,548,433)
Provisions for liabilities		(563,000)	(563,000)
Net assets		2,252,288	2,249,098
Capital and reserves
Called up share capital		1	1
Revaluation reserve		2,148,076	2,148,076
Retained earnings		104,211	101,021
Shareholders' funds		2,252,288	2,249,098

For the financial year 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 9 December 2025 and signed on its behalf by:
 

.........................................

W M D Twelves

Director

Litton (Parkgate) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	Accounting policies

Statutory information

Litton (Parkgate) Limited is a private company, limited by shares, domiciled in England and Wales, company number 04932271. The registered office is at Offices 5-7 Lumford Mill, Riverside Business Park, Buxton Road, Bakewell, DE45 1GS.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover represents rent receivable net of VAT. Revenue is recognised in line with tenancy agreements on the basis of occupancy dates.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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.

Investment properties

Investment properties are carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors with the assistance of external valuers as detailed in note 3 of the financial statements. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Litton (Parkgate) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

1	Accounting policies (continued)

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 3).

3	Investment properties

	Fair value £
At 1 April 2024	7,400,000
At 31 March 2025	7,400,000