Parkfield Homes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05119436 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

Parkfield Homes Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C N H Pursglove

J R France-Hayhurst

T C C Austen

REGISTERED OFFICE:

Military House

24 Castle Street

Chester

CH1 2DS

REGISTERED NUMBER:

05119436 (England and Wales)

ACCOUNTANTS:

Pursglove & Brown

Military House

24 Castle Street

Chester

Cheshire

CH1 2DS

CURRENT ASSETS

Stocks

665,925

508,970

Debtors

4

7,695

5,652

Cash at bank

8,845

-

682,465

514,622

CREDITORS

Amounts falling due within one year

5

(860,875

)

(676,753

)

NET CURRENT LIABILITIES

(178,410

)

(162,131

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(178,410

)

(162,131

)

CAPITAL AND RESERVES

Called up share capital

6

1

1

Retained earnings

(178,411

)

(162,132

)

SHAREHOLDERS' FUNDS

(178,410

)

(162,131

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 14 August 2019 and were signed on its behalf by:

C N H Pursglove - Director

1.	STATUTORY INFORMATION

Parkfield Homes Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling, which is the functional currency of the company, rounded to the nearest

£1.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Taxation

Taxation for the year comprises current 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

2,172

2,172

Other debtors

5,523

3,480

7,695

5,652

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

43,548

21,162

Amounts owed to group undertakings

805,327

643,591

Other creditors

12,000

12,000

860,875

676,753

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

1

Ordinary

£1

1

1

7.	RELATED PARTY DISCLOSURES

At 31 March 2019, there was an amount of £46,947 (Mar 18: £nil) due to Spurstow Properties Limited with no interest

payable and repayable on demand.

At 31 March 2019, there was an amount of £34,039 (Mar 18: £nil) due to Spurstow Estates Limited with no interest

payable and repayable on demand.

At 31 March 2019, there was an amount of £49,384 (Mar 18: £nil) due to Parkfields Securities Limited with no interest

payable and repayable on demand.

At 31 March 2019, there was an amount of £14,908 (Mar 18: £nil) due to Spurstow Developments Limited with no interest

payable and repayable on demand.

At 31 March 2019, there was an amount of £660,046 (Mar 18: £nil) due to Bob Parry & Co Limited with no interest

payable and repayable on demand.

8.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary undertaking of Spurstow Group Limited, a company controlled by J R

France-Hayhurst.