Parkrow Alloys Limited - Accounts to registrar (filleted) - small 18.2
Parkrow Alloys Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
PARKROW ALLOYS LIMITED |
Unaudited Financial Statements for the Year Ended 30 September 2022 |
PARKROW ALLOYS LIMITED (REGISTERED NUMBER: 03831886) |
Contents of the Financial Statements |
for the Year Ended 30 September 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 8 |
PARKROW ALLOYS LIMITED |
Company Information |
for the Year Ended 30 September 2022 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Granville House |
2 Tettenhall Road |
Wolverhampton |
West Midlands |
WV1 4SB |
PARKROW ALLOYS LIMITED (REGISTERED NUMBER: 03831886) |
Balance Sheet |
30 September 2022 |
30.9.22 | 30.9.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
PARKROW ALLOYS LIMITED (REGISTERED NUMBER: 03831886) |
Balance Sheet - continued |
30 September 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
PARKROW ALLOYS LIMITED (REGISTERED NUMBER: 03831886) |
Notes to the Financial Statements |
for the Year Ended 30 September 2022 |
1. | STATUTORY INFORMATION |
Parkrow Alloys Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover is recognised when goods are physically delivered to the customer. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference shares or non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss. |
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. |
PARKROW ALLOYS LIMITED (REGISTERED NUMBER: 03831886) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2022 |
2. | ACCOUNTING POLICIES - continued |
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 |
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 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Computer |
property | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 October 2021 |
Disposals | ( |
) | ( |
) | ( |
) |
At 30 September 2022 |
DEPRECIATION |
At 1 October 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 30 September 2022 |
NET BOOK VALUE |
At 30 September 2022 |
At 30 September 2021 |
Depreciation is charged on freehold property at 2% straight Line. Depreciation charged is calculated on buildings cost only. Freehold property is split between land £150,000 and buildings £350,000. |
PARKROW ALLOYS LIMITED (REGISTERED NUMBER: 03831886) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.22 | 30.9.21 |
£ | £ |
Trade debtors |
Due from parent company | 160,946 | 160,846 |
Prepayments and accrued income |
The trade debtors balance of £341,293 (2021: £476,201) is factored. The creditor due to the factoring company of £227,142 (2021; £132,756) is disclosed in note 6. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.22 | 30.9.21 |
£ | £ |
Bank loans and overdrafts (see note 8) |
Trade creditors |
Social security and other taxes |
Other creditors | 192 | 192 |
Barclays Invoice discounting | 227,142 | 132,756 |
Due to S & M Baker | - | 2,978 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.22 | 30.9.21 |
£ | £ |
Bank loans (see note 8) |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 8,862 | 27,504 |
8. | LOANS |
An analysis of the maturity of loans is given below: |
30.9.22 | 30.9.21 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
PARKROW ALLOYS LIMITED (REGISTERED NUMBER: 03831886) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2022 |
8. | LOANS - continued |
30.9.22 | 30.9.21 |
£ | £ |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 8,862 | 27,504 |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
30.9.22 | 30.9.21 |
£ | £ |
Within one year |
Between one and five years |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.9.22 | 30.9.21 |
£ | £ |
Bank loans |
Barclays Invoice discounting | 227,142 | 132,756 |
Bank loan is secured by a charge on the freehold property. |
Barclays Invoice discounting liabilities are secured by way of a fixed equitable charge over all purchased debts. |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.22 | 30.9.21 |
value: | £ | £ |
Ordinary | £1 | 231,000 | 231,000 |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Parkrow Alloys Limited |
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 Balance Sheet. 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 Parkrow Alloys Limited for the year ended 30 September 2022 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Parkrow Alloys Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Parkrow Alloys Limited and state those matters that we have agreed to state to the director of Parkrow Alloys Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Parkrow Alloys Limited and its director for our work or for this report. |
It is your duty to ensure that Parkrow Alloys 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 Parkrow Alloys Limited. You consider that Parkrow Alloys 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 Parkrow Alloys 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. |
Granville House |
2 Tettenhall Road |
Wolverhampton |
West Midlands |
WV1 4SB |