Parkway 38 Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04354157 (England and Wales)

Financial Statements for the Year Ended 31 January 2020

for

Parkway 38 Limited

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

5

DIRECTORS:

R Sivakumar

T Strbac

SECRETARY:

R Sivakumar

REGISTERED OFFICE:

38 Parkway

Camden

London

NW1 7AH

REGISTERED NUMBER:

04354157 (England and Wales)

ACCOUNTANTS:

BBK Partnership

Chartered Accountants

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

FIXED ASSETS

Tangible assets

4

39,020

37,416

CURRENT ASSETS

Stocks

21,025

18,875

Debtors

5

4,703

52,699

Prepayments and accrued income

6,200

6,200

Cash at bank and in hand

5,355

4,911

37,283

82,685

CREDITORS

Amounts falling due within one year

6

109,163

147,748

NET CURRENT LIABILITIES

(71,880

)

(65,063

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(32,860

)

(27,647

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(32,960

)

(27,747

)

SHAREHOLDERS' FUNDS

(32,860

)

(27,647

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 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 28 October 2020 and were signed on its behalf by:

T Strbac - Director

1.	STATUTORY INFORMATION

Parkway 38 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.

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.

Plant and machinery etc

-

20% on reducing balance

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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2019 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2019

400,641

Additions

11,361

At 31 January 2020

412,002

DEPRECIATION

At 1 February 2019

363,225

Charge for year

9,757

At 31 January 2020

372,982

NET BOOK VALUE

At 31 January 2020

39,020

At 31 January 2019

37,416

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Amounts owed by group undertakings

4,703

52,699

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Bank loans and overdrafts

-

2,117

Trade creditors

70,911

89,445

Taxation and social security

(9,709

)

19,515

Other creditors

47,961

36,671

109,163

147,748