Parklands Estates Ltd

Contents
	Page
Balance Sheet	1
Notes to the Financial Statements	2—3

Registered number: 12604414

		2022		2021
	Notes	£	£	£	£
CURRENT ASSETS
Stocks	3	997,703		1,320,862
Debtors	4	25,408		14,022
Cash at bank and in hand		24,885		3,144

		1,047,996		1,338,028
Creditors: Amounts Falling Due Within One Year	5	(689,537 )		(646,920 )

NET CURRENT ASSETS (LIABILITIES)			358,459		691,108

TOTAL ASSETS LESS CURRENT LIABILITIES			358,459		691,108

Creditors: Amounts Falling Due After More Than One Year	6		(352,169 )		(761,787 )

NET ASSETS/(LIABILITIES)			6,290		(70,679 )

CAPITAL AND RESERVES
Called up share capital			1		1
Profit and Loss Account			6,289		(70,680 )

SHAREHOLDERS' FUNDS			6,290		(70,679)

For the year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr J J Issacharoff

Director

04/08/2026

The notes on pages 2 to 3 form part of these financial statements.

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The accounts have been prepared on the going concern basis as the directors are of the opinion that the company will meet its liabilities as and when due, due to the continued support of the director and shareholder.

1.2. Turnover

Turnover represents property sales and net invoiced rents and commission receivable, excluding value-added tax.

1.3. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

1.4. Taxation

Taxation for the period 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.

1.5. Deferred Taxation

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 period 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.

1.6. Short term debtors and creditors

Short-term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

1.7. Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Average Number of Employees

Average number of employees, including directors, during the year was as follows: NIL (2021: NIL)

3. Stocks

	2022	2021
	£	£
Stock	997,703	1,320,862

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Parklands Estates Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2022

4. Debtors

	2022	2021
	£	£
Due within one year
Other debtors	25,408	14,022

	25,408	14,022

5. Creditors: Amounts Falling Due Within One Year

	2022	2021
	£	£
Trade creditors	6,205	-
Other creditors	681,857	646,920
Taxation and social security	1,475	-

	689,537	646,920

6. Creditors: Amounts Falling Due After More Than One Year

	2022	2021
	£	£
Bank loans	352,169	761,787

	352,169	761,787

7. Secured Creditors

The following secured debts included within creditors are secured on the company's investment properties.

	2022		2021
	£		£
Bank loans and overdrafts	352,169		761,787

8. Related Party Transactions

Included in other debtors are balances totalling £6,000 owed from a company with a common director.

9. General Information

Parklands Estates Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12604414 . The registered office is 80 Fairholt Road, London, N16 5HN.

The presentation currency of the financial statements is the Pound Sterling (£).

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