Park Row Properties Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 01167499 (England and Wales)

PARK ROW PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

Page

Balance Sheet

1

to

2

Notes to the Financial Statements

3

to

5

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

2,550,000

2,550,000

2,550,000

2,550,000

CURRENT ASSETS

Debtors

6

1,347

43,726

Cash at bank

238,740

199,785

240,087

243,511

CREDITORS

Amounts falling due within one year

7

27,427

52,612

NET CURRENT ASSETS

212,660

190,899

TOTAL ASSETS LESS CURRENT LIABILITIES

2,762,660

2,740,899

PROVISIONS FOR LIABILITIES

121,103

121,103

NET ASSETS

2,641,557

2,619,796

CAPITAL AND RESERVES

Called up share capital

8

254

254

Share premium

64,376

64,376

Non - distributable reserves

1,139,537

1,139,537

Distributable reserves

1,437,390

1,415,629

SHAREHOLDERS' FUNDS

2,641,557

2,619,796

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 13th September 2023 and were signed on its behalf by:

J H Watson - Director

E L Watson - Director

1.	STATUTORY INFORMATION

Park Row Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

01167499

Registered office:

3365 Century Way

Thorpe Park

Leeds

LS15 8ZB

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 as modified by the revaluation of certain assets.

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

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT. The policy adopted for the recognition of turnover is when the outcome of a transaction can be estimated reliably, turnover from the letting of properties is recognised by reference to the period of rent charged at the balance sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures and fittings

- 25% on cost

Investment property

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

Taxation

Taxation for the year 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.

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 year 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.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1st April 2022

and 31st March 2023

1,257

DEPRECIATION

At 1st April 2022

and 31st March 2023

1,257

NET BOOK VALUE

At 31st March 2023

-

At 31st March 2022

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2022

and 31st March 2023

2,550,000

NET BOOK VALUE

At 31st March 2023

2,550,000

At 31st March 2022

2,550,000

The directors consider the value of investment properties included in the accounts to fairly represent the open market value at the balance sheet date.

The historic cost equivalent of investment properties included at fair value is £1,289,358 (2022: £1,289,358).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

-

36,322

Other debtors

1,347

7,404

1,347

43,726

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

983

14,376

Taxation and social security

9,830

14,368

Other creditors

16,614

23,868

27,427

52,612

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

122

'A' Ordinary

£1

122

122

122

'B' Ordinary

£1

122

122

10

'C' Ordinary

£1

10

10

254

254