ACCOUNTS - Final Accounts

PARKVIEW FIFE LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31true2021-01-01falseNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC179391 2021-01-01 2021-12-31 SC179391 2020-01-01 2020-12-31 SC179391 2021-12-31 SC179391 2020-12-31 SC179391 c:CompanySecretary1 2021-01-01 2021-12-31 SC179391 c:Director1 2021-01-01 2021-12-31 SC179391 c:Director2 2021-01-01 2021-12-31 SC179391 c:RegisteredOffice 2021-01-01 2021-12-31 SC179391 d:Buildings 2021-01-01 2021-12-31 SC179391 d:Buildings 2021-12-31 SC179391 d:Buildings 2020-12-31 SC179391 d:Buildings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 SC179391 d:PlantMachinery 2021-01-01 2021-12-31 SC179391 d:PlantMachinery 2021-12-31 SC179391 d:PlantMachinery 2020-12-31 SC179391 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 SC179391 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 SC179391 d:CurrentFinancialInstruments 2021-12-31 SC179391 d:CurrentFinancialInstruments 2020-12-31 SC179391 d:Non-currentFinancialInstruments 2021-12-31 SC179391 d:Non-currentFinancialInstruments 2020-12-31 SC179391 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 SC179391 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 SC179391 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 SC179391 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 SC179391 d:ShareCapital 2021-12-31 SC179391 d:ShareCapital 2020-12-31 SC179391 d:RetainedEarningsAccumulatedLosses 2021-12-31 SC179391 d:RetainedEarningsAccumulatedLosses 2020-12-31 SC179391 c:OrdinaryShareClass1 2021-01-01 2021-12-31 SC179391 c:OrdinaryShareClass1 2021-12-31 SC179391 c:FRS102 2021-01-01 2021-12-31 SC179391 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 SC179391 c:FullAccounts 2021-01-01 2021-12-31 SC179391 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: SC179391

PARKVIEW FIFE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021


PARKVIEW FIFE LIMITED

COMPANY INFORMATION

Directors	Mr J Moffat
	Mrs E Moffat


Company secretary	Agnes Wallace


Registered number	SC179391


Registered office	Birniefield By Birnie Loch
	Collessie Ladybank
	Cupar
	Fife
	KY15 7UT


Accountants	EQ Accountants LLP
	Chartered Accountants
	Pentland House
	Saltire Centre
	Glenrothes
	Fife
	KY6 2AH


PARKVIEW FIFE LIMITED REGISTERED NUMBER:SC179391

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2021

		2021		2020
		£		£

Fixed assets
Tangible assets	4		156,998		154,350
			156,998		154,350
Current assets
Stocks		5,500		5,500
Debtors: amounts falling due within one year	5	597		89
Cash at bank and in hand		18,710		13,692
		24,807		19,281
Creditors: amounts falling due within one year	6	(22,335)		(22,382)
Net current assets/(liabilities)			2,472		(3,101)
Total assets less current liabilities			159,470		151,249
Creditors: amounts falling due after more than one year	7		(167,689)		(160,907)

Net liabilities			(8,219)		(9,658)

Capital and reserves
Called up share capital	8	2	2
Profit and loss account		(8,221)	(9,660)
		(8,219)	(9,658)

Page 1


PARKVIEW FIFE LIMITED REGISTERED NUMBER:SC179391

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 September 2022.

Mr J Moffat

Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2


PARKVIEW FIFE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1.	General information

The Company is limited by shares and incorporated in Scotland; Registration Number SC179391. The registered office address is Birniefield By Birnie Loch, Collessie Ladybank, Cupar, Fife, KY15 7UT.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that
the Company has adequate resources to continue in operational existence for the foreseeable future
The directors have considered a period of 12 months from the date of approval of the financial
statements. Thus the directors continue to adopt the going concern basis of accounting in preparing
the financial statements.

2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3


PARKVIEW FIFE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.3

Turnover (continued)

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

				Heritable property	-	0% reducing balance
				Plant and machinery	-	25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Page 4


PARKVIEW FIFE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).

4.	Tangible fixed assets

	Heritable property	Plant and machinery	Total
	£	£	£
Cost or valuation
At 1 January 2021	152,978	11,367	164,345
Additions	-	3,242	3,242
At 31 December 2021	152,978	14,609	167,587
Depreciation
At 1 January 2021	-	9,995	9,995
Charge for the year on owned assets	-	594	594
At 31 December 2021	-	10,589	10,589
Net book value
At 31 December 2021	152,978	4,020	156,998
At 31 December 2020	152,978	1,372	154,350

Debtors

					2021	2020
					£	£


Other debtors	597	89

6.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Bank loans	1,600	1,572
Other creditors	20,000	20,000
Accruals and deferred income	735	810
	22,335	22,382

Page 5


PARKVIEW FIFE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

7.	Creditors: Amounts falling due after more than one year
		2021	2020
		£	£

Bank loans	5,467	7,067
Other creditors	162,222	153,840
	167,689	160,907

8.	Share capital
		2021	2020
		£	£

Allotted, called up and fully paid

2 Ordinary shares of £1.00 each	2	2

Page 6