Company Registration No. 08075377 (England and Wales)
Parsons Trading Limited
Unaudited accounts
for the year ended 31 December 2023
Parsons Trading Limited
Unaudited accounts
Contents
Parsons Trading Limited
Company Information
for the year ended 31 December 2023
Directors
Mr J C Griffiths
Mrs R C Griffiths
Company Number
08075377 (England and Wales)
Registered Office
1 Elgar Business Centre
Moseley Road
Hallow
Worcestershire
WR2 5NJ
Parsons Trading Limited
Statement of financial position
as at 31 December 2023
Inventories
574,755
653,012
Cash at bank and in hand
1,237,445
987,461
Creditors: amounts falling due within one year
(377,460)
(335,960)
Net current assets
1,997,933
1,818,614
Total assets less current liabilities
1,998,848
1,819,521
Provisions for liabilities
Net assets
1,998,675
1,819,341
Called up share capital
10,000
10,000
Profit and loss account
1,988,675
1,809,341
Shareholders' funds
1,998,675
1,819,341
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2024 and were signed on its behalf by
Mr J C Griffiths
Director
Company Registration No. 08075377
Parsons Trading Limited
Notes to the Accounts
for the year ended 31 December 2023
Parsons Trading Limited is a private company, limited by shares, registered in England and Wales, registration number 08075377. The registered office is 1 Elgar Business Centre, Moseley Road, Hallow, Worcestershire, WR2 5NJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 and depreciation
Tangible assets are included at cost less depreciation. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% p.a. reducing basis
Computer equipment
33.33% p.a. straight line basis
Stocks are valued at the lower of cost and net realisable value, after making due allowance for slow moving items.
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 and that they 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.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Parsons Trading Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Total
5
Average number of employees
During the year the average number of employees was 4 (2022: 4).
