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 2021

FOR

PARK HOME ENERGY LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

8

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

274,732

51,296

CURRENT ASSETS

Debtors

5

133,067

117,786

Cash at bank and in hand

220,976

93,312

354,043

211,098

CREDITORS

Amounts falling due within one year

6

237,513

101,474

NET CURRENT ASSETS

116,530

109,624

TOTAL ASSETS LESS CURRENT LIABILITIES

391,262

160,920

CREDITORS

Amounts falling due after more than one year

7

84,875

11,408

NET ASSETS

306,387

149,512

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

306,287

149,412

SHAREHOLDERS' FUNDS

306,387

149,512

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 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 23 February 2022 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.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on cost and 20% on reducing balance

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 (2020 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 May 2020

-

80,438

80,438

Additions

189,909

56,575

246,484

Disposals

-

(18,317

)

(18,317

)

At 30 April 2021

189,909

118,696

308,605

DEPRECIATION

At 1 May 2020

-

29,142

29,142

Charge for year

317

13,588

13,905

Eliminated on disposal

-

(9,174

)

(9,174

)

At 30 April 2021

317

33,556

33,873

NET BOOK VALUE

At 30 April 2021

189,592

85,140

274,732

At 30 April 2020

-

51,296

51,296

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

Plant and

machinery

etc

£

COST

At 1 May 2020

77,177

Additions

55,325

Disposals

(18,317

)

At 30 April 2021

114,185

DEPRECIATION

At 1 May 2020

27,540

Charge for year

12,871

Eliminated on disposal

(9,174

)

At 30 April 2021

31,237

NET BOOK VALUE

At 30 April 2021

82,948

At 30 April 2020

49,637

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

95,806

43,400

Other debtors

37,261

74,386

133,067

117,786

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

8,706

-

Hire purchase contracts

18,014

28,523

Trade creditors

118,883

7,600

Taxation and social security

72,987

43,350

Other creditors

18,923

22,001

237,513

101,474

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

41,295

-

Hire purchase contracts

43,580

11,408

84,875

11,408

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due after more than five years

886

-

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2021 and 30 April 2020:

2021

2020

£

£

Mr T D Heydon

Balance outstanding at start of year

70,861

27,512

Amounts advanced

-

70,861

Amounts repaid

(33,705

)

(27,512

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

37,156

70,861

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £37,500 (2020 - £37,500) were paid to the director .

The director operated a loan account with the company. The balance owed by the director at 30 April 2021 was £(37,156) (2020 - £(70,861)).

Interest was charged on the loan at the Official Rate.

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 2021 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

23 February 2022