Parlage Properties Limited Filleted accounts for Companies House (small and micro)

PARLAGE PROPERTIES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 0814190

Parlage Properties Limited

Filleted Unaudited Financial Statements

31 March 2022

Parlage Properties Limited

Statement of Financial Position

31 March 2022

	2022		2021
Note	£	£	£

Current assets

Stocks		26,650	26,650
Debtors	4	3,809,630	3,775,602
Cash at bank and in hand		50,056	77,060
		------------	------------
		3,886,336	3,879,312

Creditors: amounts falling due within one year	5	58,469		59,331
		------------		------------
Net current assets			3,827,867	3,819,981
			------------	------------
Total assets less current liabilities			3,827,867	3,819,981
			------------	------------
Net assets			3,827,867	3,819,981
			------------	------------

Capital and reserves

Called up share capital	3,850,000	3,850,000
Profit and loss account	( 22,133)	( 30,019)
	------------	------------
Shareholders funds	3,827,867	3,819,981
	------------	------------

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 31 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 .

These financial statements were approved by the board of directors and authorised for issue on 5 June 2023 , and are signed on behalf of the board by:

Mr B Feldman

Director

Company registration number: 0814190

Parlage Properties Limited

Notes to the Financial Statements

Year ended 31 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 Hallswelle House, 1 Hallswelle Road, London, NW11 ODH.

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 or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Income tax

The taxation expense represents the aggregate amount of current and deferred 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. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Stocks

These comprise stocks of property which are valued at the lower of cost plus improvements and net realisable value.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Debtors

	2022	2021
	£	£
Amounts owed by related undertakings	3,808,043	3,774,516
Other debtors	1,587	1,086
	------------	------------
	3,809,630	3,775,602
	------------	------------

5. Creditors: amounts falling due within one year

	2022	2021
	£	£
Corporation tax	3,809	3,833
Amounts owed to related undertakings	47,783	49,013
Other creditors	6,877	6,485
	--------	--------
	58,469	59,331
	--------	--------

6. Related party transactions

Loans to and from associated companies are shown separately in the debtors and creditors notes to the accounts.