Parkit Management Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08051637 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2017

for

Parkit Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Miss A S Young

REGISTERED OFFICE:

9 The Alders

Riplingham Fields

Gainsborough

Lincolnshire

DN21 1WJ

REGISTERED NUMBER:

08051637 (England and Wales)

ACCOUNTANTS:

ABC Accounting Services

Flexadux House

Grange Road

Corringham Rd. Ind. Est.

Gainsborough

Lincolnshire

DN21 1QB

FIXED ASSETS

Tangible assets

4

6,761

5,621

CURRENT ASSETS

Debtors

5

1,375

5,947

Cash at bank

24,316

10,285

25,691

16,232

CREDITORS

Amounts falling due within one year

6

21,921

22,004

NET CURRENT ASSETS/(LIABILITIES)

3,770

(5,772

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,531

(151

)

PROVISIONS FOR LIABILITIES

1,106

844

NET ASSETS/(LIABILITIES)

9,425

(995

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

9,423

(997

)

SHAREHOLDERS' FUNDS

9,425

(995

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 5 January 2018 and were signed by:

Miss A S Young - Director

1.	STATUTORY INFORMATION

Parkit Management 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 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.

Although the company has net liabilities at the year end date, the director, who is its principal creditor has agreed

to continue to support the company financially. The accounts are therefore prepared on a going concern basis.

Turnover

Turnover represents cash received from car parking fees, stated net of value added tax.

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

-

20% 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.

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 1 .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 November 2016

7,603

2,000

9,603

Additions

1,628

1,338

2,966

At 31 October 2017

9,231

3,338

12,569

DEPRECIATION

At 1 November 2016

2,826

1,156

3,982

Charge for year

1,281

545

1,826

At 31 October 2017

4,107

1,701

5,808

NET BOOK VALUE

At 31 October 2017

5,124

1,637

6,761

At 31 October 2016

4,777

844

5,621

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Prepayments

1,375

5,947

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Tax

8,422

61

Social security and other taxes

3,999

4,607

Directors' current accounts

9,099

16,961

Accrued expenses

401

375

21,921

22,004

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £25,000 were paid to the director .

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Miss A S Young.

The company is controlled by the director. At the end of the year the director was owed £9,099

(2016, £16,961.)