Accounts filed on 31-07-2022

Accounts filed on 31-07-2022

PAROVINE PROPERTIES LIMITED - Company Information

Print Friendly Version

814327falseproperty development,property investment and the collection of rental income2021-08-012022-07-31http://www.companieshouse.gov.uk/2021-07-31http://www.companieshouse.gov.uk/pt:ShareCapital2021-07-31http://www.companieshouse.gov.uk/cd:Director12021-08-012022-07-31http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2021-07-31http://www.companieshouse.gov.uk/pt:ShareCapital2022-07-31http://www.companieshouse.gov.uk/cd:Director22021-08-012022-07-31http://www.companieshouse.gov.uk/pt:FurnitureFittings2021-07-31http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2022-07-31http://www.companieshouse.gov.uk/cd:Director32021-08-012022-07-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2021-07-31http://www.companieshouse.gov.uk/pt:FurnitureFittings2022-07-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12021-08-012022-07-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2022-07-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2021-08-012022-07-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2021-08-012022-07-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2022-07-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2021-07-31http://www.companieshouse.gov.uk/2021-08-012022-07-31http://www.companieshouse.gov.uk/2021-07-31http://www.companieshouse.gov.uk/cd:FRS1022021-08-012022-07-31http://www.companieshouse.gov.uk/2022-07-31http://www.companieshouse.gov.uk/cd:FullAccounts2021-08-012022-07-31http://www.companieshouse.gov.uk/pt:LandBuildings2021-07-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2021-08-012022-07-31http://www.companieshouse.gov.uk/pt:LandBuildings2022-07-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 814327
Parovine Properties Limited
ACCOUNTS
FOR THE YEAR ENDED 31/07/2022
Prepared By:
Malcolm Roussak & Co
Chartered Accountants
52 Bury Old Road
Whitefield
Manchester
M45 6TL
Parovine Properties Limited
ACCOUNTS
FOR THE YEAR ENDED 31/07/2022
DIRECTORS
Mrs Judith A Melen
David B Melen
Jonathan C Melen
SECRETARY
David B Melen
REGISTERED OFFICE
12 Brodgen Terrace
SALE
Cheshire
M33 7UF
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 814327
ACCOUNTANTS
Malcolm Roussak & Co
Chartered Accountants
52 Bury Old Road
Whitefield
Manchester
M45 6TL
Parovine Properties Limited
ACCOUNTS
FOR THEYEARENDED31/07/2022
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
Parovine Properties Limited
BALANCE SHEET AT 31/07/2022
20222021
Notes££
FIXED ASSETS
Tangible assets3347,656348,120
CURRENT ASSETS
Debtors48,8428,344
Cash at bank and in hand40,38855,507
49,23063,851
CREDITORS: Amounts falling due within one year56,41813,860
NET CURRENT ASSETS42,81249,991
TOTAL ASSETS LESS CURRENT LIABILITIES390,468398,111
CREDITORS: Amounts falling due after more than one year6225,000225,000
PROVISIONS FOR LIABILITIES AND CHARGES71,6781,763
NET ASSETS163,790171,348
CAPITAL AND RESERVES
Called up share capital8300300
Profit and loss account163,490171,048
SHAREHOLDERS' FUNDS163,790171,348
For the year ending 31/07/2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 31/10/2022 and signed on their behalf by
.............................
Jonathan C Melen
Director
Parovine Properties Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/07/2022
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Commercial Vehiclesreducing balance 25%
Fixtures and Fittingsreducing balance 15%
Equipmentstraight line 20%
2. EMPLOYEES
20222021
No.No.
Average number of employees--
3. TANGIBLE FIXED ASSETS
Land AndCommercialFixtures
BuildingsVehiclesand FittingsEquipmentTotal
£££££
Cost
At 01/08/2021338,74110,67152,5193,003404,934
Additions--1,849-1,849
At 31/07/2022338,74110,67154,3683,003406,783
Depreciation
At 01/08/2021-10,64143,2522,92156,814
For the year-82,223822,313
At 31/07/2022-10,64945,4753,00359,127
Net Book Amounts
At 31/07/2022338,741228,893-347,656
At 31/07/2021338,741309,26782348,120
Parovine Properties Limited
4. DEBTORS 20222021
££
Amounts falling due within one year
Trade debtors7,6527,061
Prepayments1,1901,283
8,8428,344
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20222021
££
UK corporation tax-2,550
Directors current account3,5944,677
Credit card27110
Trade creditors1,5975,323
Accruals1,2001,200
6,41813,860
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20222021
££
Bank loans (secured) >1yr225,000225,000
225,000225,000
7. PROVISIONS FOR LIABILITIES 20222021
££
Deferred taxation1,6781,763
1,6781,763
Parovine Properties Limited
8. SHARE CAPITAL 20222021
££
Allotted, issued and fully paid:
300 Ordinary shares of £1 each300300
300300
9. POST BALANCE SHEET EVENTS
After the year end the company has disposed of one of its' rental properties.
As a consequence of the proposed changes in the private rental sector, the company is having to spend considerable amounts on repairs and renewals in order to maintain suitable rental income.
The directors are considering whether to change the focus of the company in order to repay debt which will imply further sales of properties.