Parkview Basingstoke Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07910059

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

PARKVIEW BASINGSTOKE PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Rahim Virani

Karim Virani

SECRETARY:

Paul Davis

REGISTERED OFFICE:

Crown House

North Circular Road

London

NW10 7PN

REGISTERED NUMBER:

07910059

AUDITORS:

UHY Hacker Young (S.E.) Limited

Chartered Accountants & Statutory Auditor

168 Church Road

Hove

East Sussex

BN3 2DL

BANKERS:

Punjab National Bank (International) Ltd

110 South Road

Southall

UB1 1RB

CURRENT ASSETS

Debtors

4

67,983

123,216

Cash at bank

134,328

430,873

202,311

554,089

CREDITORS

Amounts falling due within one year

5

88,359

449,264

NET CURRENT ASSETS

113,952

104,825

TOTAL ASSETS LESS CURRENT LIABILITIES

113,952

104,825

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

113,951

104,824

SHAREHOLDERS' FUNDS

113,952

104,825

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 2 September 2021 and were signed on its behalf by:

Rahim Virani - Director

1.	STATUTORY INFORMATION

Parkview Basingstoke Properties Limited is a private company, limited by shares, registered in England and Wales. The company's registered office is Crown House, North Circular Road, Park Royal, London NW10 7PN.

2.	ACCOUNTING POLICIES

Accounting convention

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.

Going concern

In accordance with their responsibilities, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements.

For this purpose, the directors have considered the adequacy of the company's cash resources covering the period 12 months ahead of the approval of these financial statements.

The directors have reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis in preparing these financial statements.

Turnover

Turnover represents amounts receivable from management charges.

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

6,667

60,000

Amounts owed by group undertakings

61,316

63,216

67,983

123,216

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Taxation and social security

5,406

3,265

Other creditors

82,953

445,999

88,359

449,264

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Charles Homan (Senior Statutory Auditor)

for and on behalf of UHY Hacker Young (S.E.) Limited

7.	ULTIMATE CONTROLLING PARTY

The parent company is Cygnet Properties & Leisure PLC, a company registered in England and Wales.

The company is controlled by some members of the Virani family, some of whom are directors of the company, through their shareholdings in Virani Net Limited and Virani Net Scheme.