Parker Lyndale Limited Filleted accounts for Companies House (small and micro)

PARKER LYNDALE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04289966

PARKER LYNDALE LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2022

PARKER LYNDALE LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31st MARCH 2022

CONTENTS	PAGES

Statement of financial position	1 to 2

Notes to the financial statements	3 to 5

PARKER LYNDALE LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2022

	2022		2021
Note	£	£	£	£

FIXED ASSETS

Investment properties	5		489,000		489,000

CURRENT ASSETS

Debtors	6	121,326	51,323
Cash at bank and in hand		99,195	154,804
		----------	----------
		220,521	206,127

CREDITORS: amounts falling due within one year	7	6,586		4,468
		----------		----------
NET CURRENT ASSETS			213,935		201,659
			----------		----------
TOTAL ASSETS LESS CURRENT LIABILITIES			702,935		690,659

CREDITORS: amounts falling due after more than one year	8	353,306	353,306
		----------	----------
NET ASSETS		349,629	337,353
		----------	----------

CAPITAL AND RESERVES

Called up share capital	9	1,000	1,000
Non distributable reserves		23,340	23,340
Profit and loss account		325,289	313,013
		----------	----------
SHAREHOLDERS FUNDS		349,629	337,353
		----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31st March 2022 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 financial statements for the year in question in accordance with section 476 ;

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

PARKER LYNDALE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2022

These financial statements were approved by the board of directors and authorised for issue on 22 December 2022 , and are signed on behalf of the board by:

T. L. Crilley

Director

Company registration number: 04289966

PARKER LYNDALE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31st MARCH 2022

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Spaceworks, Benton Park Road, Newcastle upon Tyne, NE7 7LX.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit and loss. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on the going concern basis. The directors consider that this basis is appropriate following due consideration of the present financial position, the expected prospects of the company during the twelve months from the date of approval of these financial statements and the continued support of the company's directors, bankers and other lending agents during this time.

Revenue recognition

Turnover is measured at the fair value of the consideration and represents amounts receivable for rent.

Taxation

The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Investment properties

Investment properties are initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment properties are revalued to their fair value at each reporting date and any changes in fair value are recognised through the income statement.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Investment properties are not depreciated.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year, being the directors of the company, amounted to 2 (2021: 2).

5. INVESTMENT PROPERTIES

	Investment properties
	£
Valuation
At 1st April 2021 and 31st March 2022	489,000
	----------
Impairment
At 1st April 2021 and 31st March 2022	–
	----------

Carrying amount
At 31st March 2022	489,000
	----------
At 31st March 2021	489,000
	----------

Investment properties are stated at the directors' opinion of fair value.

6. DEBTORS

	2022	2021
	£	£
Prepayments and accrued income	326	323
Lyndale Robert Limited	121,000	51,000
	----------	---------
	121,326	51,323
	----------	---------

7. CREDITORS: amounts falling due within one year

	2022	2021
	£	£
Accruals and deferred income	1,130	1,129
Corporation tax	5,225	2,803
Director loan accounts	231	218
Other creditors	–	318
	-------	-------
	6,586	4,468
	-------	-------

8. CREDITORS: amounts falling due after more than one year

	2022	2021
	£	£
Mortgages	353,306	353,306
	----------	----------

Mortgages, included within creditors falling due after more than one year, are secured against the investment properties to which they relate.

9. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2022		2021
	No.	£	No.	£
Ordinary shares of £ 1 each	1,000	1,000	1,000	1,000
	-------	-------	-------	-------

10. RELATED PARTY TRANSACTIONS

At 31 March 2022 there was a balance due from Lyndale Robert Limited of £121,000 (2021: £51,000). Lyndale Robert Limited is controlled by the directors of Parker Lyndale Limited and the balance due is shown in year end debtors. No further transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A small entities.