REGISTERED NUMBER: 06179573 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 DECEMBER 2023 TO 29 NOVEMBER 2024

FOR

KIRK PAROLLES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

T Harrison

REGISTERED OFFICE:

Thompson Taraz Rand

10 Jesus Lane

Cambridge

CB5 8BA

BUSINESS ADDRESS:

38 Cressida Road

London

N19 3JW

REGISTERED NUMBER:

06179573 (England and Wales)

ACCOUNTANTS:

Thompson Taraz Rand Ltd

Chartered Accountants

10 Jesus Lane

Cambridge

Cambridgeshire

CB5 8BA

FIXED ASSETS

Tangible assets

5

8,192

10,922

Investments

6

51

51

Investment property

7

443,594

474,676

451,837

485,649

CURRENT ASSETS

Debtors

8

-

312,587

Cash and cash equivalents

2,090

467

2,090

313,054

CREDITORS

Amounts falling due within one year

9

(31,675

)

(304,096

)

NET CURRENT (LIABILITIES)/ASSETS

(29,585

)

8,958

TOTAL ASSETS LESS CURRENT LIABILITIES

422,252

494,607

CREDITORS

Amounts falling due after more than one year

10

(150,000

)

(157,000

)

PROVISIONS FOR LIABILITIES

11

(8,510

)

(10,772

)

NET ASSETS

263,742

326,835

CAPITAL AND RESERVES

Called up share capital

12

1

1

Fair value reserve

13

25,529

66,744

Retained earnings

238,212

260,090

SHAREHOLDERS' FUNDS

263,742

326,835

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 November 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 November 2025 and were signed by:

T Harrison - Director

1.	STATUTORY INFORMATION

Kirk Parolles Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Kirk Parolles Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents sale of publications and publication rights, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery etc 25% reducing balance.

Investments in subsidiaries

Investment in subsidiaries are held at cost less impairment.

Investment property

Investment property is included at fair value. Fair value gains and losses are recognised in the profit and loss account. Deferred taxation is provided on these gains and losses at the rate expected to apply when the property is sold.

Financial instruments

Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

Deferred tax

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Revenue recognition

Revenue is recognised by reference to signed contracts in determining the schedule of rights to income. Non-refundable advances are recognised on signing of contracts.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2023 - NIL).

5.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 December 2023

and 29 November 2024

41,790

6,067

47,857

DEPRECIATION

At 1 December 2023

31,873

5,062

36,935

Charge for period

2,479

251

2,730

At 29 November 2024

34,352

5,313

39,665

NET BOOK VALUE

At 29 November 2024

7,438

754

8,192

At 30 November 2023

9,917

1,005

10,922

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 December 2023

and 29 November 2024

51

NET BOOK VALUE

At 29 November 2024

51

At 30 November 2023

51

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2023

475,000

Revaluations

(31,000

)

At 29 November 2024

444,000

DEPRECIATION

At 1 December 2023

324

Charge for period

82

At 29 November 2024

406

NET BOOK VALUE

At 29 November 2024

443,594

At 30 November 2023

474,676

Fair value at 29 November 2024 is represented by:

£

Valuation in 2015

409,961

Valuation in 2016

24,039

Valuation in 2017

19,000

Valuation in 2018

(28,584

)

Valuation in 2019

(24,416

)

Valuation in 2020

7,300

Valuation in 2021

50,000

Valuation in 2022

21,000

Valuation in 2023

(3,300

)

Valuation in 2024

(31,000

)

444,000

If investment property had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

409,961

409,961

The Investment property was valued on an open market basis on 29 November 2024 by the director .

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

-

273,763

Other debtors

-

38,824

-

312,587

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

-

138

Trade creditors

-

234,720

Taxation and social security

6,993

909

Other creditors

24,682

68,329

31,675

304,096

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

150,000

157,000

11.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

8,510

10,772

Deferred

tax

£

Balance at 1 December 2023

10,772

Provided during period

(2,262

)

Balance at 29 November 2024

8,510

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary

£1

1

1

13.

RESERVES

Fair

value

reserve

£

At 1 December 2023

66,744

Property revaluation

(41,215

)

At 29 November 2024

25,529

14.	RELATED PARTY DISCLOSURES

At the balance sheet date, an amount of £94 (2023: £29,314) was owed to the director. This balance is included within creditors falling due within one year. The loan is interest-free and repayable on demand.

The director is also owed a long-term loan of £150,000 (2023: £157,000) by the company. This balance includes accrued interest of £7,850 (2023: £7,850) and is disclosed within creditors falling due after more than one year.

At the balance sheet date, the company was owed £Nil (2023: £273,763) by its subsidiary. This balance, which was interest-free and repayable on demand, is disclosed within amounts owed by group undertakings.

During the year, the company was charged a management fee of £17,078 (2023: £17,078) by its subsidiary. At the balance sheet date, the company owed its subsidiary £Nil (2023: £267,720), which was disclosed as £Nil (2023: £22,000) within other creditors and £Nil (2023: £234,720) within trade creditors.

15.	SIGNIFICANT JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Valuation basis for investment property

The company holds an investment property which is carried at fair value in accordance with FRS 102 Section 16. Management has exercised judgement in determining that the fair value model is the most appropriate basis for measuring the property, having regard to the purpose for which it is held and the relevance of fair value information to users of the financial statements.

Determination of fair value in the absence of an external valuation

The investment property has been revalued at the year end by the director. Significant judgement is involved in assessing the fair value where no independent professional valuation has been obtained. Judgement is applied in analysing comparable market data, recent transactions for similar properties, rental yields, occupancy assumptions and expected future cash flows.

Key Sources of Estimation Uncertainty

Fair value of investment property

The fair value of the investment property involves significant estimation. The valuation is sensitive to assumptions including market rental values, discount rates, comparable sales evidence, condition of the property and wider market conditions. Changes in these assumptions could materially affect the carrying amount of the property.

The fair value at the reporting date is £444,000 (2024: £475,000).

A reasonably possible change in valuation assumptions could result in a material upward or downward movement in fair value.