Parklife Innovations Ltd - Accounts to registrar (filleted) - small 18.2
Parklife Innovations Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Parklife Innovations Ltd |
| Unaudited Financial Statements |
| for the Year Ended 31st December 2020 |
| Parklife Innovations Ltd (Registered number: 07629887) |
| Contents of the Financial Statements |
| for the Year Ended 31st December 2020 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Parklife Innovations Ltd |
| Company Information |
| for the Year Ended 31st December 2020 |
| Director: |
| Registered office: |
| Registered number: |
| Accountants: |
| Accountants |
| 4th Floor |
| 100 Fenchurch Street |
| London |
| EC3M 5JD |
| Parklife Innovations Ltd (Registered number: 07629887) |
| Statement of Financial Position |
| 31st December 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Current assets |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
8 |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Share premium |
| Retained earnings | ( |
) |
| 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. |
| Parklife Innovations Ltd (Registered number: 07629887) |
| Statement of Financial Position - continued |
| 31st December 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| Parklife Innovations Ltd (Registered number: 07629887) |
| Notes to the Financial Statements |
| for the Year Ended 31st December 2020 |
| 1. | Statutory information |
| Parklife Innovations Ltd is a |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| It is unclear how the 2020 coronavirus will impact the company and given that the severity cannot be reliably estimated, the financial statements have been prepared on a going concern basis. |
| Revenue recognition |
| Turnover represents the total value of sales made during the year, excluding Value Added Tax. |
| Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Plant and machinery | - |
| 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 statement of financial position date. |
| Parklife Innovations Ltd (Registered number: 07629887) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st December 2020 |
| 2. | Accounting policies - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Intangible fixed assets |
| Other |
| intangible |
| assets |
| £ |
| Cost |
| At 1st January 2020 |
| Additions |
| At 31st December 2020 |
| Amortisation |
| At 1st January 2020 |
| Charge for year |
| At 31st December 2020 |
| Net book value |
| At 31st December 2020 |
| At 31st December 2019 |
| Parklife Innovations Ltd (Registered number: 07629887) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st December 2020 |
| 5. | Tangible fixed assets |
| Plant and |
| machinery |
| £ |
| Cost |
| At 1st January 2020 |
| Additions |
| At 31st December 2020 |
| Depreciation |
| At 1st January 2020 |
| Charge for year |
| At 31st December 2020 |
| Net book value |
| At 31st December 2020 |
| At 31st December 2019 |
| 6. | Debtors: amounts falling due within one year |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | Creditors: amounts falling due within one year |
| 2020 | 2019 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | Creditors: amounts falling due after more than one year |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| Other creditors |