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

REGISTERED NUMBER: 02848598 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2021

for

Parlison Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J D Aitchison

Mrs R Aitchison

A J McParland

Mrs L S McParland

SECRETARY:

A J McParland

REGISTERED OFFICE:

The Old Rectory

Duncton

Petworth

West Sussex

GU28 0JZ

REGISTERED NUMBER:

02848598 (England and Wales)

ACCOUNTANTS:

Maximus Accountancy Services Limited

47 Kensington Road

Chichester

West Sussex

PO19 7XS

CURRENT ASSETS

Debtors

4

3,917

415,240

Cash at bank

1,534,281

31,382

1,538,198

446,622

CREDITORS

Amounts falling due within one year

5

544,642

249,459

NET CURRENT ASSETS

993,556

197,163

TOTAL ASSETS LESS CURRENT LIABILITIES

993,556

197,163

CAPITAL AND RESERVES

Called up share capital

6

10,000

10,000

Retained earnings

983,556

187,163

SHAREHOLDERS' FUNDS

993,556

197,163

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 11 July 2022 and were signed on its behalf by:

J D Aitchison - Director

1.	STATUTORY INFORMATION

Parlison 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 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 comprises revenue recognised by the company in respect of property management and consultancy services supplied during the year, exclusive of Value Added Tax and trade discounts.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

-

64,096

Other debtors

3,917

351,144

3,917

415,240

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

2,850

34,665

Taxation and social security

189,500

6,545

Other creditors

352,292

208,249

544,642

249,459

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

10,000

Ordinary

£1

10,000

10,000

7.	RELATED PARTY DISCLOSURES

During the year the company was invoiced £38,042 (2020 £62,500) by Arland Property Limited and £7,000 (2020 £9,000) by Aitchison Developments Limited. Of these amounts £2,400 (2020 £6,250) including VAT and nil (2020 nil), respectively, was unpaid at the year end.

The company recharged expenses to Arland Property Limited and Aitchison Developments Limited amounting to £8,416 (2020 £65,710) and £10,520 (2020 £66,905) respectively of which nil (2020 £27,554 including VAT) and nil (2020 £27,938 including VAT) was unpaid at the year end.

Other creditors includes amounts in respect of recharges to be repaid to Arland Property Limited and Aitchison Developments Limited of £88,708 (2020 £97,158) each.

Arland Property Limited is controlled by A J McParland. Aitchison Developments Limited is controlled by J D Aitchison.

8.	ULTIMATE CONTROLLING PARTY

The company is under the control of the four directors who each own 25% of the issued share capital.