Parker Parker Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07279591 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2021

FOR

PARKER PARKER LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M W Parker

Miss S Parker

Miss J L Parker

REGISTERED OFFICE:

Jacaranda

Dipford Road

Trull

Taunton

Somerset

TA3 7PA

REGISTERED NUMBER:

07279591 (England and Wales)

ACCOUNTANTS:

Aspen Waite Limited

Chartered Accountants

Rubis House

15 Friarn Street

Bridgwater

Somerset

TA6 3LH

FIXED ASSETS

Tangible assets

4

78,869

45,364

CURRENT ASSETS

Stocks

1,525

1,500

Debtors

5

8,309

43,964

Cash at bank

280,977

119,997

290,811

165,461

CREDITORS

Amounts falling due within one year

6

(99,365

)

(114,280

)

NET CURRENT ASSETS

191,446

51,181

TOTAL ASSETS LESS CURRENT LIABILITIES

270,315

96,545

CREDITORS

Amounts falling due after more than one year

7

(44,390

)

(28,891

)

PROVISIONS FOR LIABILITIES

(6,783

)

-

NET ASSETS

219,142

67,654

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

219,138

67,650

SHAREHOLDERS' FUNDS

219,142

67,654

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 16th September 2022 and were signed on its behalf by:

Miss S Parker - Director

1.	STATUTORY INFORMATION

Parker Parker 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents net invoiced sales of goods and services, excluding value added tax.

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.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

GOVERNMENT GRANTS

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1st January 2021

18,985

63,162

785

82,932

Additions

6,119

45,000

-

51,119

At 31st December 2021

25,104

108,162

785

134,051

DEPRECIATION

At 1st January 2021

8,278

28,506

784

37,568

Charge for year

1,683

15,931

-

17,614

At 31st December 2021

9,961

44,437

784

55,182

NET BOOK VALUE

At 31st December 2021

15,143

63,725

1

78,869

At 31st December 2020

10,707

34,656

1

45,364

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

Motor

vehicles

£

COST

At 1st January 2021

and 31st December 2021

47,098

DEPRECIATION

At 1st January 2021

15,966

Charge for year

6,226

At 31st December 2021

22,192

NET BOOK VALUE

At 31st December 2021

24,906

At 31st December 2020

31,132

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/21

31/12/20

£

£

Trade debtors

8,309

43,964

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/21

31/12/20

£

£

Bank loan

5,916

-

Hire purchase contracts

8,156

8,316

Trade creditors

1,224

29,857

Corporation tax

34,535

16,575

Social security and other taxes

9,775

38,253

Other creditors

7,380

7,380

Directors' current accounts

26,002

11,950

Accruals and deferred income

6,377

1,949

99,365

114,280

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/21

31/12/20

£

£

Bank loan

23,654

-

Hire purchase contracts

20,736

28,891

44,390

28,891

8.	SECURED DEBTS

The following secured debts are included within creditors:

31/12/21

31/12/20

£

£

Hire purchase contracts

28,892

37,207