Parkside Properties Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03667596 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 November 2016

for

Parkside Properties Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mr M. Liasis

SECRETARY:

Mrs L. Liasis

REGISTERED OFFICE:

1146 High Road

Whetstone

London

N20 0RA

REGISTERED NUMBER:

03667596 (England and Wales)

ACCOUNTANTS:

Cymans

Chartered Certified Accountants

1146 High Road

Whetstone

London

N20 0RA

FIXED ASSETS

Tangible assets

2

1,058,751

1,058,970

CURRENT ASSETS

Cash at bank and in hand

81,381

76,806

CREDITORS

Amounts falling due within one year

45,564

44,980

NET CURRENT ASSETS

35,817

31,826

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,094,568

1,090,796

CREDITORS

Amounts falling due after more than one
year

3

93,595

101,595

NET ASSETS

1,000,973

989,201

CAPITAL AND RESERVES

Called up share capital

4

2

Revaluation reserve

758,426

Profit and loss account

242,545

230,773

SHAREHOLDERS' FUNDS

1,000,973

989,201

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 30 May 2017 and were signed by:

Mr M. Liasis - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

Nil

Plant and machinery etc

-

20% on reducing balance

Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease

term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities, it is

a departure from the general requirement of the Companies Act 2006 for the tangible assets to be depreciated. In

the opinion of the director compliance with standard is necessary for the financial statements to give a true and

fair view. Depreciation or amortisation is only one of the many factors reflected in the annual valuation and the

amount of which otherwise have been charged cannot be separately identified or qualified.

The directors are of the opinion that the value stated in the accounts for land and buildings reflect the market

value.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Turnover

Turnover represents rent receivable on an accrual basis.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 December 2015

1,060,666

Additions

219

At 30 November 2016

1,060,885

DEPRECIATION

At 1 December 2015

1,696

Charge for year

438

At 30 November 2016

2,134

NET BOOK VALUE

At 30 November 2016

1,058,751

At 30 November 2015

1,058,970

3.

CREDITORS

Creditors include the following debts falling due in more than five years:

30.11.16

30.11.15

£

Repayable otherwise than by instalments

93,595

101,595

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.16

30.11.15

value:

£

2

Ordinary

1

2