Parkinson Property Consultants Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07236689 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2021

FOR

PARKINSON PROPERTY CONSULTANTS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

G J Bartlett

A H Bellis

D Crawshaw

M Smith

REGISTERED OFFICE:

Douglas Bank House

Wigan Lane

Wigan

WN1 2TB

REGISTERED NUMBER:

07236689 (England and Wales)

ACCOUNTANTS:

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Intangible assets

4

24,121

36,182

Tangible assets

5

3,398

4,530

Investments

6

70,000

70,000

97,519

110,712

CURRENT ASSETS

Debtors

7

194,905

89,284

Cash at bank and in hand

28,370

51,395

223,275

140,679

CREDITORS

Amounts falling due within one year

8

194,086

188,911

NET CURRENT ASSETS/(LIABILITIES)

29,189

(48,232

)

TOTAL ASSETS LESS CURRENT LIABILITIES

126,708

62,480

CREDITORS

Amounts falling due after more than one year

9

46,719

17,230

NET ASSETS

79,989

45,250

CAPITAL AND RESERVES

Called up share capital

120

120

Retained earnings

79,869

45,130

SHAREHOLDERS' FUNDS

79,989

45,250

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 January 2022 and were signed on its behalf by:

G J Bartlett - Director

1.	STATUTORY INFORMATION

Parkinson Property Consultants 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 historic cost convention.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The principle accounting policies adopted in the preparation of the financial statements are set out below.

Turnover

Turnover represents the value of services provided, excluding value added tax, during the year.

Turnover is recognised when the service has occured and an invoice is raised and sent to the customer.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Government grants

Grant income received in respect of the Coronavirus Job Retention Scheme in recognised in the accounting period in which the underlying furloughed staff costs relate to.

Grant income received in respect of the Coronavirus Small Business Grant Fund has been recognised in the accounting period it was received on the basis that entitlement criteria is met and it does not have any performance criteria as its purpose is to provide immediate financial support.

Investments in associates

Investments in associate undertakings are recognised at cost.

Financial instruments

The following assets and liabilities are classified as financial instruments; trade debtors, Directors' loan accounts, trade creditors, bank loans and accruals.

Financial instruments that are payable or receivable within one year, typically trade debtors, Directors loan accounts, trade creditors and accruals are measured initially and subsequently at the undiscounted amount of the cash ot other consideration that is expected to be paid or received.

Financial instruments repayable in more than one year such as bank loans are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method unless the effect of discounting would be immaterial.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that 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

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 9 (2020 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2020

and 30 April 2021

120,609

AMORTISATION

At 1 May 2020

84,427

Charge for year

12,061

At 30 April 2021

96,488

NET BOOK VALUE

At 30 April 2021

24,121

At 30 April 2020

36,182

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2020

and 30 April 2021

27,353

DEPRECIATION

At 1 May 2020

22,823

Charge for year

1,132

At 30 April 2021

23,955

NET BOOK VALUE

At 30 April 2021

3,398

At 30 April 2020

4,530

6.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 May 2020

and 30 April 2021

70,000

NET BOOK VALUE

At 30 April 2021

70,000

At 30 April 2020

70,000

7.

DEBTORS

2021

2020

£

£

Amounts falling due within one year:

Trade debtors

150,115

42,384

Other debtors

1,900

1,900

152,015

44,284

Amounts falling due after more than one year:

Amounts owed by group undertakings

42,890

45,000

Aggregate amounts

194,905

89,284

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

22,543

12,543

Trade creditors

9,105

24,392

Taxation and social security

119,274

95,293

Other creditors

43,164

56,683

194,086

188,911

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

46,719

17,230

10.	RELATED PARTY DISCLOSURES

The company is the parent of Direct Property Estates Limited, a wholly owned subsidiary incorporated in England.

At the reporting date £42,890 (2020: £45,000) was owed from Direct Property Estates Limited to the company. No interest is being charged and there are no formal repayment terms.