Parkway Housing Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 10171226 (England and Wales)

PARKWAY HOUSING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 10 MAY 2016 TO 31 MAY 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C Clacken

REGISTERED OFFICE:

Wallace House

20 Birmingham Road

Walsall

West Midlands

WS1 2LT

REGISTERED NUMBER:

10171226 (England and Wales)

ACCOUNTANTS:

Wallace Crooke Walsall Limited

Chartered Accountants

Wallace House

20 Birmingham Road

Walsall

West Midlands

WS1 2LT

FIXED ASSETS

Investment property

4

321,580

CURRENT ASSETS

Cash at bank and in hand

926

CREDITORS

Amounts falling due within one year

5

113,002

NET CURRENT LIABILITIES

(112,076

)

TOTAL ASSETS LESS CURRENT LIABILITIES

209,504

CREDITORS

Amounts falling due after more than one year

6

218,226

NET LIABILITIES

(8,722

)

CAPITAL AND RESERVES

Called up share capital

7

100

Retained earnings

(8,822

)

SHAREHOLDERS' FUNDS

(8,722

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 7 February 2018 and were signed by:

C Clacken - Director

1.	STATUTORY INFORMATION

Parkway Housing 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

This may not be appropriate because at 31 May 2017 the company's liabilities exceeded its assets by £8,722.

The Director's however believe that with the ongoing support of the company's shareholders, that it is

appropriate to prepare the financial statements on the going concern basis which assumes that the company will

continue in operational existence for the foreseeable future.

If the company were unable to continue in operational existence for the foreseeable future, adjustments would

have to be made to reduce balance sheet values of assets to their recoverable amounts, and to provide for

further liabilities that might arise, and to reclassify fixed assets and long term liabilities as current assets and

liabilities respectively.

The company's financial statements are individual entity financial statements.

The company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

321,580

At 31 May 2017

321,580

NET BOOK VALUE

At 31 May 2017

321,580

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Directors' current accounts

107,617

Accruals and deferred income

5,385

113,002

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Other creditors

218,226

The other creditors balance is due in more than five years and not due in instalments.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

1

100

8.	RELATED PARTY DISCLOSURES

C Clacken

Director

During the year, the director loaned the company £107,617.

Interest is chargeable on this loan at 6%.

The loan is repayable on demand.

£

Amount due to related party at the balance sheet date

107,617