Parthian Ventures Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03739388 (England and Wales)

Parthian Ventures Limited

Unaudited Financial Statements

for the Year Ended 30 April 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K Golestani

Mrs A Golestani

SECRETARY:

K Golestani

REGISTERED OFFICE:

19 White House Way

Solihull

West Midlands

B91 1SG

REGISTERED NUMBER:

03739388 (England and Wales)

ACCOUNTANT:

Geraint Davies

Old Hall House

Church Lane

Mavesyn Ridware

Rugeley

Staffordshire

WS15 3QD

FIXED ASSETS

Tangible assets

3

1,525,000

1,525,000

CURRENT ASSETS

Debtors

4

7,751

1,905

Cash at bank

20,139

32,029

27,890

33,934

CREDITORS

Amounts falling due within one year

5

45,770

79,789

NET CURRENT LIABILITIES

(17,880

)

(45,855

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,507,120

1,479,145

CREDITORS

Amounts falling due after more than one year

6

(140,800

)

(157,173

)

PROVISIONS FOR LIABILITIES

8

(4,988

)

(75,206

)

NET ASSETS

1,361,332

1,246,766

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

9

390,834

320,616

Retained earnings

970,398

926,050

1,361,332

1,246,766

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 10 October 2018 and were signed on its behalf by:

Mrs A Golestani - Director

1.	STATUTORY INFORMATION

Parthian Ventures Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 20% on reducing balance

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.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 May 2017

and 30 April 2018

1,525,000

16,303

1,541,303

DEPRECIATION

At 1 May 2017

and 30 April 2018

-

16,303

16,303

NET BOOK VALUE

At 30 April 2018

1,525,000

-

1,525,000

At 30 April 2017

1,525,000

-

1,525,000

Cost or valuation at 30 April 2018 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2003

76,525

-

76,525

Valuation in 2007

178,289

-

178,289

Valuation in 2010

(35,000

)

-

(35,000

)

Valuation in 2013

(5,000

)

-

(5,000

)

Valuation in 2017

181,009

-

181,009

Cost

1,129,177

16,303

1,145,480

1,525,000

16,303

1,541,303

If land and buildings had not been revalued they would have been included at the following historical cost:

2018

2017

£

£

Cost

1,129,177

1,129,177

Value of land in freehold land and buildings

1,129,177

1,129,177

Land and buildings were valued on an open market basis on 27 April 2017 by Shepherd Commercial, Solihull .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

2,050

750

Other debtors

5,701

1,155

7,751

1,905

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

13,670

10,421

Payments on account

3,725

2,963

Trade creditors

1,280

955

Taxation and social security

19,316

21,068

Other creditors

7,779

44,382

45,770

79,789

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

140,800

157,173

7.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

154,470

167,594

Handelsbanken, Newhall Street, Birmingham hold a fixed and floating charge against the assets of the company.

8.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax on revaluations

4,988

75,206

Deferred

tax

£

Balance at 1 May 2017

75,206

Land and building revaluation

(70,218

)

Balance at 30 April 2018

4,988

9.

RESERVES

Revaluation

reserve

£

At 1 May 2017

320,616

Deferred tax movement

70,218

At 30 April 2018

390,834