Parade Cardiff (UK) Limited Filleted accounts for Companies House (small and micro)

PARADE CARDIFF (UK) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09782444

PARADE CARDIFF (UK) LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 August 2019

PARADE CARDIFF (UK) LIMITED

STATEMENT OF FINANCIAL POSITION

31 August 2019

	2019	2018
Note	£	£

Current assets

Debtors	5	184,647	19,517
Cash at bank and in hand		404	1,069
		----------	---------
		185,051	20,586

Creditors: amounts falling due within one year	6	538,111	294,473
		----------	----------
Net current liabilities		353,060	273,887
		----------	----------
Total assets less current liabilities		( 353,060)	( 273,887)
		----------	----------
Net liabilities		( 353,060)	( 273,887)
		----------	----------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 353,061)	( 273,888)
	----------	----------
Shareholders deficit	( 353,060)	( 273,887)
	----------	----------

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 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 31 August 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

PARADE CARDIFF (UK) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 August 2019

These financial statements were approved by the board of directors and authorised for issue on 13 May 2021 , and are signed on behalf of the board by:

Mr C P Demetriou
Director

Company registration number: 09782444

PARADE CARDIFF (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8a Ship Street, Brighton, England BN1 1AD.

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.

Going concern

The financial statements have been prepared under the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon the continuing support of the company's director and holding company. If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of the assets to their recoverable amounts and to provide for further liabilities that might arise. The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis. The director consider that the uncertainty caused in the company's industry as a result of Coronavirus and the restrictions put in place by the government should not materially affect the company's ability to continue as a going concern. The company may take advantage of the support packages offered by the government, as appropriate and will continue to review and monitor costs as the situation develops.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 10 (2018: 8 ).

5. Debtors

	2019	2018
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	–	19,516
Other debtors	184,647	1
	----------	---------
	184,647	19,517
	----------	---------

6. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	101,639	2,400
Amounts owed to group undertakings and undertakings in which the company has a participating interest	357,710	–
Social security and other taxes	1,810	2,680
Other creditors	76,952	289,393
	----------	----------
	538,111	294,473
	----------	----------

7. Related party transactions

The company was under the control of Mr C P Demetriou throughout the current and previous year.

8. Controlling party

The company is a wholly-owned subsidiary of Parade Cardiff Limited, a company registered in Jersey.The registered office of this company is Sommerville House, Phillips Street, St. Helier, Jersey, JE2 4SW.