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Registered number: 09695304
PARKVILLE ASSOCIATES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 JULY 2025
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PARKVILLE ASSOCIATES LIMITED
REGISTERED NUMBER: 09695304
BALANCE SHEET
AS AT 31 JULY 2025
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Fixed assets held for sale
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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PARKVILLE ASSOCIATES LIMITED
REGISTERED NUMBER: 09695304
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2025
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 9 form part of these financial statements.
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PARKVILLE ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
Parkville Associates Limited (the "Company") is a private company limited by share capital, incorporated under the UK Companies Act 2006 and domiciled in England. The address of the Company's registered office is 2a Fortis Green, London, England, N2 9EL.
2.Accounting policies
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Summary of significant accounting policies
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The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all reporting periods presented, unless otherwise stated.
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Basis of preparation of financial statements
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The financial statements of the Company have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland, and the UK Companies Act 2006.
The preparation of financial statements in conformity with Financial Reporting Standard 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Company's accounting policies.
Details of those estimates and/or judgments made in applying the Company's accounting policies towards the preparation of these financial statements that may be considered as yielding a significant risk of a material adjustment being made to the carrying amounts of assets and/or liabilities reported in the balance sheet during the next financial reporting period are disclosed in note 3 to the financial statements.
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Functional and presentational currency
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Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (the "functional currency").
The functional currency of the Company, and the currency in which the financial statements are presented (the "presentational currency"), is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.
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Exemption from preparing consolidated financial statements
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The Company is exempt from the requirement to prepare consolidated financial statements by virtue of sections 383 and 399 of the Companies Act 2006 as the Company and its subsidiary undertakings, both individually and on consolidation, are subject to the small companies regime.
The financial statements therefore present information about the Company as an individual undertaking and not about its group.
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PARKVILLE ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
2.Accounting policies (continued)
Following the disposal of the Company's investment in freehold property during November 2025 and subsequent cessation of trade, the directors intend to wind up the Company and for this reason have not prepared the financial statements for the year ended 31 July 2025 on a going concern basis.
Adjustments were recognised in preparing these financial statements to reflect the net realisable value of assets held by the Company.
Revenue represents the fair value received and receivable in respect of the sale of properties, recognised on the transfer of control to the customer on legal completion, and management and commission fees receivable, recognised on provision of the underlying service with amounts accrued and/or deferred in accordance with the timing of invoices.
Taxation for the Company comprises of current (i.e. corporation) and deferred taxation with respect to operations undertaken solely in the UK and is recognised in profit or loss.
Current taxation is calculated using tax rates and on the basis of tax laws enacted or substantively enacted at the balance sheet date. The directors of the Company will periodically evaluate positions taken in tax returns with respect to situations in which tax regulation is subject to interpretation and in turn will establish a provision, where appropriate, on the basis of amounts expected to be payable.
Deferred taxation is recognised on temporary differences arising between the tax bases of assets and liabilities and their respective carrying amounts in the financial statements. Deferred taxation is calculated using tax rates and on the basis of tax laws enacted or substantively enacted at the balance sheet date expected to apply when the related deferred tax asset/liability is realised/settled.
Deferred tax assets are recognised only to the extent that it is sufficiently probable that future taxable profits will be available against which the temporary differences can be utilised.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is provided on the following basis:
Depreciation of a tangible fixed asset commences once the asset is available for use.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount
and are recognised in profit or loss.
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PARKVILLE ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
2.Accounting policies (continued)
Investment property comprises of residual freehold interest held in property stocks following disposal as long leaseholds.
Said Investment properties are initially recognised and subsequently measured at fair value.
Gains and losses arising from changes in fair value are recognised in profit or loss during the period in which they arise.
Purchases and sales of investment property are recognised when contracts have been unconditionally exchanged and the significant risks and rewards of ownership have been transferred.
Fixed asset investments comprise of holdings in unlisted company shares of subsidiary undertakings. Such holdings are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at cost less provision for impairment at the balance sheet date.
Debtors excluding deferred tax assets (see note 2.7) are initially measured at transaction price (i.e. fair value) and subsequently held, at transaction price less provision for impairment.
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Cash and cash equivalents
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Cash balances are reported as being financial instruments classified as short term receivables and are represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours and subject to an insignificant risk of changes in value. Cash balances are held at floating interest rates linked to UK bank rates.
Creditors are initially measured and subsequently held at transaction price.
Ordinary share capital, shown in equity, is initially measured and subsequently held at its nominal value. Where the transaction price for issued shares exceeds their nominal value, the difference is shown under equity in a share premium account with any directly attributable transaction costs associated with the issuing of said shares deducted from said share premium account.
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PARKVILLE ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
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Judgments in applying accounting policies and key sources of estimation uncertainty
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In the application of the Company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. Although the expected outcome of said estimates and assumptions will, by definition, seldom equal the related actual results; estimates and judgments made are continually re-evaluated and are based on historical experience as well as other factors, including expectations of future events that are believed to be reasonable under the circumstances.
In preparing these financial statements, the directors were of the opinion that there were no judgments, estimates and/or assumptions made that would be considered as having a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial period.
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The average monthly number of employees, including directors, during the year was 0 (2024 - 0).
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PARKVILLE ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
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Shares in subsidiary undertakings
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Freehold investment property
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Transfers between classes
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The 2025 valuations were made by the directors, on an open market value for existing use basis.
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PARKVILLE ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
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Falling due within one year
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Amounts owed by group undertakings
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Prepayments and accrued income
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Amounts owed by group undertakings are unsecured, non-interest bearing and repayable on demand with no fixed date of repayment.
Deferred tax assets of approximately £230,000 in respect of losses incurred in the United Kingdom have not been recognised by the Company as part of these financial statements on the grounds that there is currently insufficient certainty as to whether the Company will generate adequate trading profits in the short term against which said deferred tax assets may be offset.
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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The Company held no financial instruments that would require specific disclosure under sections 11 or 12 of Financial Reporting Standard 102 and paragraph 36 of Schedule 1 to the Companies Act 2006.
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PARKVILLE ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
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Related party transactions
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The Company has taken advantage of exemptions provided by Section 33 of Financial Reporting Standard 102 from the requirement to disclose transactions undertaken or balances carried forward as at the balance sheet date between the Company and its fellow wholly-owned group undertakings.
At the balance sheet date, the directors were owed £312,920 (2024: £312,920) by the Company in respect of interest-free and unsecured balances that are repayable on demand with no fixed date of repayment.
During the reporting period, the Company incurred costs amounting to £15,466 (2024: £2,970) payable to companies connected by virtue of common control in respect of services provided to the Company.
At the balance sheet date, the Company owed £277,296 (2024: £190,810) to companies connected by virtue of common control in respect of interest-free and unsecured balances that are repayable on demand with no fixed date of repayment
There were no other related party transactions and/or period end balances to report in accordance with Financial Reporting Standard 102 or the Companies Act 2006 as part of these financial statements.
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The Company's immediate parent company is Morphuse Group Limited, a private company incorporated under the Companies Act 2006 which holds a 100% interest in the total voting rights of the Company.
Morphuse Group Limited, whose registered office is located at 2a Fortis Green, London, England, N2 9EL, is the parent undertaking of the smallest group to consolidate these financial statements.
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