Total Parking Solutions Ltd - Accounts to registrar - small 17.2

Total Parking Solutions Ltd - Accounts to registrar - small 17.2

TOTAL PARKING SOLUTIONS LTD - Company Information

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REGISTERED NUMBER: 05676135 (England and Wales)













TOTAL PARKING SOLUTIONS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016






TOTAL PARKING SOLUTIONS LTD (REGISTERED NUMBER: 05676135)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016










Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


TOTAL PARKING SOLUTIONS LTD (REGISTERED NUMBER: 05676135)

ABRIDGED BALANCE SHEET
31 DECEMBER 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 498,954 430,219

CURRENT ASSETS
Debtors 151,399 139,286
Prepayments and accrued income 41,910 20,085
Cash at bank and in hand 222,613 152,151
415,922 311,522
CREDITORS
Amounts falling due within one year 402,035 264,309
NET CURRENT ASSETS 13,887 47,213
TOTAL ASSETS LESS CURRENT
LIABILITIES
512,841
477,432

CREDITORS
Amounts falling due after more than one
year
(88,951
)
(80,685
)

PROVISIONS FOR LIABILITIES (69,929 ) (60,102 )

ACCRUALS AND DEFERRED INCOME (45,224 ) (46,938 )
NET ASSETS 308,737 289,707

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 61,533 78,537
Retained earnings 247,104 211,070
SHAREHOLDERS' FUNDS 308,737 289,707

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 notes form part of these financial statements

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TOTAL PARKING SOLUTIONS LTD (REGISTERED NUMBER: 05676135)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2016


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 18 September 2017 and were signed on its behalf
by:





T Ponzetta - Director


The notes form part of these financial statements

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TOTAL PARKING SOLUTIONS LTD (REGISTERED NUMBER: 05676135)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016


1. STATUTORY INFORMATION

Total Parking Solutions Ltd is a private company, limited by shares, registered in England and Wales. The
company's registered number is 05676135 and the registered office address is 3 Kings Court, Kettering Venture
Park, Kettering, Northamptonshire, England, NN15 6WJ.

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 historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts (excluding value added tax) derived from the provision of goods and services to
customers during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Fixtures and fittings - 33% on cost and 15% on reducing balance
Motor vehicles - 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.

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.

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TOTAL PARKING SOLUTIONS LTD (REGISTERED NUMBER: 05676135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 86 (2015 - 80 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 January 2016 658,285
Additions 193,644
Disposals (80,703 )
At 31 December 2016 771,226
DEPRECIATION
At 1 January 2016 228,066
Charge for year 74,706
Eliminated on disposal (30,500 )
At 31 December 2016 272,272
NET BOOK VALUE
At 31 December 2016 498,954
At 31 December 2015 430,219

Plant and machinery was revalued at open market value by the directors as at 31 March 2015. This value has
been adopted as deemed cost of the assets concerned on transition to FRS 102.

The comparable amounts at original cost were:
Totals
£
Cost887,050
Depreciation(464,063)
Net Book Value422,987

5. SECURED DEBTS

The following secured debts are included within creditors:

2016 2015
£    £   
Bank loans 32,450 47,621
Hire purchase contracts and finance leases 98,312 66,664
130,762 114,285

6. OTHER FINANCIAL COMMITMENTS

Not included in the balance sheet are financial commitments, in the form of operating leases, amounting to
£140,906 (2015: £142,320).

Page 4
TOTAL PARKING SOLUTIONS LTD (REGISTERED NUMBER: 05676135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016


7. FIRST YEAR ADOPTION

The accounts have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial
Reporting Standard 102 for the first time, transitioning as at 1 April 2016. Under FRS 102, deferred tax is
recognised on a timing difference plus approach, whereas previous UK GAAP just required a timing difference
approach. Consequently deferred tax has been recognised on the fair value remeasurements on plant and
machinery.

No other restatements were required to comply with the adopted standards.

Transitional relief
On transition to FRS 102, the company has taken advantage of the following transitional relief:

• to measure fair value at date of transition to FRS 102 and use as deemed cost on an item of property, plant
and equipment.

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