Parkholme Management Limited Filleted accounts for Companies House (small and micro)

PARKHOLME MANAGEMENT LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 02094110

PARKHOLME MANAGEMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

5 April 2020

PARKHOLME MANAGEMENT LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 5 APRIL 2020

Contents	Pages

Officers and professional advisers	1

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	4 to 6

PARKHOLME MANAGEMENT LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	Mrs H V Gray
	Mr A M Hayes

Company secretary	Mrs H V Gray

Registered office	Suite 185
	15 Ingestre Place
	London
	England
	W1F 0JH

Accountants	ERC Accountants & Business Advisers Limited
	Chartered accountants
	Hanover Buildings
	11-13 Hanover Street
	Liverpool
	L1 3DN

PARKHOLME MANAGEMENT LIMITED

CHARTERED ACCOUNTANT'S REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PARKHOLME MANAGEMENT LIMITED

YEAR ENDED 5 APRIL 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Parkholme Management Limited for the year ended 5 April 2020, which comprise the statement of financial position 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 at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Parkholme Management Limited, as a body, in accordance with the terms of our engagement letter dated 21 January 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Parkholme Management Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Parkholme Management Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Parkholme Management 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 Parkholme Management Limited. You consider that Parkholme Management 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 Parkholme Management 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.

ERC Accountants & Business Advisers Limited Chartered accountants

Hanover Buildings 11-13 Hanover Street Liverpool L1 3DN

8 July 2020

PARKHOLME MANAGEMENT LIMITED

STATEMENT OF FINANCIAL POSITION

5 April 2020

	2020		2019
Note	£	£	£

FIXED ASSETS

Tangible assets	4		18,987	18,987

CURRENT ASSETS

Debtors	6	2,111		34

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR	7	22,388		20,311
		--------		--------
NET CURRENT LIABILITIES			20,277	20,277
			--------	--------
TOTAL ASSETS LESS CURRENT LIABILITIES			( 1,290)	( 1,290)
			-------	-------
NET LIABILITIES			( 1,290)	( 1,290)
			-------	-------

CAPITAL AND RESERVES

Called up share capital	3	3
Profit and loss account	( 1,293)	( 1,293)
	-------	-------
SHAREHOLDERS DEFICIT	( 1,290)	( 1,290)
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 5 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 8 July 2020 , and are signed on behalf of the board by:

Mr A M Hayes
Director

Company registration number: 02094110

PARKHOLME MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 5 APRIL 2020

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 185, 15 Ingestre Place, London, W1F 0JH, England.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover represents service charges received during the year.

Corporation tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Investment properties were included at cost. The directors are of the opinion that this valuation method is more appropriate due to a fair value estimate not being cost effective. No depreciation was charges on investment properties as they were deemed to have an unlimited useful life.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. TANGIBLE ASSETS

	Land and buildings
	£

Cost
At 6 April 2019 and 5 April 2020	18,987
	--------
Depreciation
At 6 April 2019 and 5 April 2020	–
	--------
Carrying amount
At 5 April 2020	18,987
	--------
At 5 April 2019	18,987
	--------

5. SOFP SPARE NOTE 3 HEADING

Investment properties were included at cost. The directors are of the opinion that this valuation method is more appropriate due to fair value estimate not being cost effective. No deprecation was charged on investment properties as they were deemed to have an unlimited useful life.

6. DEBTORS

	2020	2019
	£	£

Other debtors	2,111	34
	-------	----

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

	2020	2019
	£	£

Other creditors	22,388	20,311
	--------	--------

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

No directors' received advances, credits or guarantees during the current or previous accounting periods.

9. RELATED PARTY TRANSACTIONS

The following related party transactions were undertaken during the year: The balance payable to the director at the balance sheet date was £ 9,430 and the amount payable to the shareholder was £ 7,892 .(The balance payable to the directors 2019: £17,322). No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.