Parquez Properties Limited - Period Ending 2021-02-28

Parquez Properties Limited

Contents

Company Information	1
Statement of Directors' Responsibilities	2
Accountants' Report	3
Balance Sheet	4
Notes to the Unaudited Financial Statements	5 to 8

Parquez Properties Limited

Company Information

Directors

Mr Steven James Parker Mr Guillermo Marquez Gonzalez-Andrio

Registered office

Room A109 Business & Technology Centre Chroma House Shire Hill Saffron Walden Essex CB11 3AQ

Accountants

Michaelides Warner & Co Limited 102 Fulham Palace Road London W6 9PL

Parquez Properties Limited

Statement of Directors' Responsibilities

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' . Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Parquez Properties Limited
for the Period Ended 28 February 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Parquez Properties Limited for the period ended 28 February 2021 as set out on pages 4 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Parquez Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Parquez Properties Limited and state those matters that we have agreed to state to the Board of Directors of Parquez Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Parquez Properties Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Parquez Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Parquez Properties Limited. You consider that Parquez Properties Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Parquez Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Michaelides Warner & Co Limited
102 Fulham Palace Road
London
W6 9PL

29 November 2021

Parquez Properties Limited

(Registration number: 11814378)
Balance Sheet as at 28 February 2021

	Note	2021 £	2020 £
Current assets
Debtors	4	207	20,183
Cash at bank and in hand		3,957	10,925
		4,164	31,108
Creditors: Amounts falling due within one year	5	(7,137)	(32,900)
Net liabilities		(2,973)	(1,792)
Capital and reserves
Called up share capital	6	100	100
Profit and loss account		(3,073)	(1,892)
Shareholders' deficit		(2,973)	(1,792)

For the financial period ending 28 February 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 29 November 2021 and signed on its behalf by:
 

.........................................

Mr Steven James Parker
Director

Parquez Properties Limited

Notes to the Unaudited Financial Statements for the Period from 29 February 2020 to 28 February 2021

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Room A109 Business & Technology Centre
Chroma House
Shire Hill
Saffron Walden
Essex
CB11 3AQ
England

These financial statements were authorised for issue by the Board on 29 November 2021.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Parquez Properties Limited

Notes to the Unaudited Financial Statements for the Period from 29 February 2020 to 28 February 2021

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2020 - 2).

4

Debtors

	2021 £	2020 £
Other debtors	207	20,183
	207	20,183

Parquez Properties Limited

Notes to the Unaudited Financial Statements for the Period from 29 February 2020 to 28 February 2021

5

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Due within one year
Accruals and deferred income	900	900
Other creditors	6,237	32,000
	7,137	32,900

6	Share capital

Allotted, called up and fully paid shares

	2021		2020
	No.	£	No.	£
Share Capital of £1 each	100	100	100	100

7	Related party transactions

Debtors due within one year include amounts owed by the Directors of £208 (2020: £20,183). The loan is repayable on demand.

Transactions with directors

2021	At 29 February 2020 £	Advances to directors £	Repayments by director £	At 28 February 2021 £
Mr Steven James Parker
Amounts owed to/(from) the Director	(10,092)	(512)	10,500	(104)
Mr Guillermo Marquez Gonzalez-Andrio
Amounts owed to/(from) the Director	(10,092)	(512)	10,500	(104)

2020	At 8 February 2019 £	Advances to directors £	At 28 February 2020 £
Mr Steven James Parker
Amounts owed to/(from) the Director	-	(10,092)	(10,092)
Mr Guillermo Marquez Gonzalez-Andrio
Amounts owed to/(from) the Director	-	(10,092)	(10,092)

Parquez Properties Limited

Notes to the Unaudited Financial Statements for the Period from 29 February 2020 to 28 February 2021

Summary of transactions with other related parties

Parquez Development Ltd a related party is owed £6,237 (2020 -£32,000)