Parfitt Properties Limited - Accounts to registrar (filleted) - small 18.2

Parfitt Properties Limited - Accounts to registrar (filleted) - small 18.2

PARFITT PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 07797888 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

FOR

PARFITT PROPERTIES LIMITED
PARFITT PROPERTIES LIMITED (REGISTERED NUMBER: 07797888)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

PARFITT PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2018







DIRECTOR: M Parfitt





REGISTERED OFFICE: Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH





REGISTERED NUMBER: 07797888 (England and Wales)





ACCOUNTANTS: KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH
Page 1
PARFITT PROPERTIES LIMITED (REGISTERED NUMBER: 07797888)

BALANCE SHEET
31 OCTOBER 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,866 66,435
Investments 5 3,000 -
54,866 66,435

CURRENT ASSETS
Debtors 6 28,166 16,046
Cash at bank and in hand 959,894 882,939
988,060 898,985
CREDITORS
Amounts falling due within one year 7 224,529 350,787
NET CURRENT ASSETS 763,531 548,198
TOTAL ASSETS LESS CURRENT
LIABILITIES
818,397
614,633

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 818,395 614,631
SHAREHOLDERS' FUNDS 818,397 614,633

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director on 22 January 2019 and were signed by:





M Parfitt - Director


The notes form part of these financial statements

Page 2
PARFITT PROPERTIES LIMITED (REGISTERED NUMBER: 07797888)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2018


1. STATUTORY INFORMATION

Parfitt Properties 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 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year 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 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalent
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

Page 3 continued...
PARFITT PROPERTIES LIMITED (REGISTERED NUMBER: 07797888)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2018


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2017 150 65,000 4,023 69,173
Additions - - 2,720 2,720
At 31 October 2018 150 65,000 6,743 71,893
DEPRECIATION
At 1 November 2017 56 1,354 1,328 2,738
Charge for year 24 15,912 1,353 17,289
At 31 October 2018 80 17,266 2,681 20,027
NET BOOK VALUE
At 31 October 2018 70 47,734 4,062 51,866
At 31 October 2017 94 63,646 2,695 66,435

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 3,000
At 31 October 2018 3,000
NET BOOK VALUE
At 31 October 2018 3,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 12,992 -
Other debtors 15,174 16,046
28,166 16,046

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade creditors 7,453 3,389
Taxation and social security 187,467 234,499
Other creditors 29,609 112,899
224,529 350,787

Page 4
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PARFITT PROPERTIES LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's
annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only
required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other
primary statements and the Report of the Director are not required to be filed with the Registrar of
Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of Parfitt Properties Limited for the year ended 31 October 2018 which comprise the Profit and Loss
Account, Balance Sheet and the related notes from the company's accounting records and from information and
explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Parfitt Properties Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Parfitt Properties Limited and state those matters that we have agreed to state to the director of Parfitt Properties Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Parfitt Properties Limited and its director for our work or for this report.

It is your duty to ensure that Parfitt Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Parfitt Properties Limited. You consider that Parfitt Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Parfitt Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH


23 January 2019

This page does not form part of the statutory financial statements

Page 5