Parkwood Employment Service Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04389074 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Parkwood Employment Service Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

Mr. K Parkin

SECRETARY:

REGISTERED OFFICE:

6 Trinity Place

Midland Drive

Sutton Coldfield

B72 1TX

REGISTERED NUMBER:

04389074 (England and Wales)

ACCOUNTANTS:

Screatons Ltd

Former Atherstone College

Ratcliffe Road

Atherstone

Warwickshire

CV9 1LF

FIXED ASSETS

Tangible assets

4

9,907

3,759

CURRENT ASSETS

Debtors

5

886,226

717,877

Cash at bank

65,440

-

951,666

717,877

CREDITORS

Amounts falling due within one year

6

682,087

456,481

NET CURRENT ASSETS

269,579

261,396

TOTAL ASSETS LESS CURRENT LIABILITIES

279,486

265,155

CREDITORS

Amounts falling due after more than one year

7

39,581

44,568

NET ASSETS

239,905

220,587

CAPITAL AND RESERVES

Called up share capital

8

60

60

Capital redemption reserve

9

(79,960

)

(79,960

)

Retained earnings

9

319,805

300,487

SHAREHOLDERS' FUNDS

239,905

220,587

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 November 2023 and were signed by:

Mr. K Parkin - Director

1.	STATUTORY INFORMATION

Parkwood Employment Service 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.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

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 6 (2022 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2022

4,760

40,899

45,659

Additions

2,744

3,852

6,596

At 31 March 2023

7,504

44,751

52,255

DEPRECIATION

At 1 April 2022

4,494

37,406

41,900

Charge for year

105

343

448

At 31 March 2023

4,599

37,749

42,348

NET BOOK VALUE

At 31 March 2023

2,905

7,002

9,907

At 31 March 2022

266

3,493

3,759

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

750,129

620,817

Other debtors

32,274

29,469

Prepayments and accrued income

103,823

67,591

886,226

717,877

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

1,615

10,438

Trade creditors

8,813

93,593

Factoring creditor

425,781

127,206

Tax

12,838

23,589

Social security and other taxes

26,241

14,724

VAT

56,677

52,698

Other creditors

2,086

2,086

Directors' current accounts

51,045

72,696

Accrued expenses

96,991

59,451

682,087

456,481

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Other loans - 1-2 years

39,581

44,568

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

60

Ordinary

£1

60

60

9.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 April 2022

300,487

(79,960

)

220,527

Profit for the year

57,418

57,418

Dividends

(38,100

)

(38,100

)

At 31 March 2023

319,805

(79,960

)

239,845

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £38,100 (2022 - £38,500) were paid to the director .

Mr K Parkin is both a director and the sole shareholder of the company.

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by the director, Mr K Parkin who owns all of the issued share capital of the company.

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 Parkwood Employment Service Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet 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 Parkwood Employment Service Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Parkwood Employment Service Limited and state those matters that we have agreed to state to the director of Parkwood Employment Service 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 Parkwood Employment Service Limited and its director for our work or for this report.

It is your duty to ensure that Parkwood Employment Service 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 Parkwood Employment Service Limited. You consider that Parkwood Employment Service 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 Parkwood Employment Service 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.

Screatons Ltd

Former Atherstone College

Ratcliffe Road

Atherstone

Warwickshire

CV9 1LF

28 November 2023