Park Home Energy Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08997544 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2020

FOR

PARK HOME ENERGY LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTOR:

Mr T D Heydon

REGISTERED OFFICE:

17 Victoria Road East

Thornton Cleveleys

Lancashire

FY5 5HT

REGISTERED NUMBER:

08997544 (England and Wales)

ACCOUNTANTS:

Miller Roskell Limited

Chartered Certified Accountants

17 Victoria Road East

Thornton Cleveleys

Lancashire

FY5 5HT

FIXED ASSETS

Tangible assets

4

51,296

64,346

CURRENT ASSETS

Debtors

5

117,786

28,450

Cash at bank and in hand

93,312

130,118

211,098

158,568

CREDITORS

Amounts falling due within one year

6

101,474

65,264

NET CURRENT ASSETS

109,624

93,304

TOTAL ASSETS LESS CURRENT LIABILITIES

160,920

157,650

CREDITORS

Amounts falling due after more than one year

7

11,408

39,931

NET ASSETS

149,512

117,719

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

149,412

117,619

SHAREHOLDERS' FUNDS

149,512

117,719

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 December 2020 and were signed by:

Mr T D Heydon - Director

1.	STATUTORY INFORMATION

Park Home Energy 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 May 2019

and 30 April 2020

1,231

77,177

2,030

80,438

DEPRECIATION

At 1 May 2019

217

15,131

744

16,092

Charge for year

203

12,409

438

13,050

At 30 April 2020

420

27,540

1,182

29,142

NET BOOK VALUE

At 30 April 2020

811

49,637

848

51,296

At 30 April 2019

1,014

62,046

1,286

64,346

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 May 2019

and 30 April 2020

77,177

DEPRECIATION

At 1 May 2019

15,131

Charge for year

12,409

At 30 April 2020

27,540

NET BOOK VALUE

At 30 April 2020

49,637

At 30 April 2019

62,046

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

43,400

-

Other debtors

74,386

28,450

117,786

28,450

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Hire purchase contracts

28,523

18,132

Trade creditors

7,600

-

Taxation and social security

43,350

39,379

Other creditors

22,001

7,753

101,474

65,264

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Hire purchase contracts

11,408

39,931

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 April 2020 and the period ended 30 April 2019:

2020

2019

£

£

Mr T D Heydon

Balance outstanding at start of year

27,512

44,376

Amounts advanced

70,861

-

Amounts repaid

(27,512

)

(16,864

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

70,861

27,512

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £37,500 were paid to the directors .

The director operated a loan account with the company. The balance owed by the director at 30 April 2020 was £(70,861) (2019 - £(27,512)).

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Park Home Energy Limited for the year ended 30 April 2020 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Park Home Energy Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Park Home Energy Limited and state those matters that we have agreed to state to the director of Park Home Energy Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Park Home Energy Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Park Home Energy Limited. You consider that Park Home Energy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Park Home Energy 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 financial statements.

Miller Roskell Limited

Chartered Certified Accountants

17 Victoria Road East

Thornton Cleveleys

Lancashire

FY5 5HT

18 December 2020