Parkinson Property Consultants Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07236689 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2018

FOR

PARKINSON PROPERTY CONSULTANTS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

G J Bartlett

A H Bellis

D Crawshaw

M Smith

REGISTERED OFFICE:

Douglas Bank House

Wigan Lane

Wigan

WN1 2TB

REGISTERED NUMBER:

07236689 (England and Wales)

ACCOUNTANTS:

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Intangible assets

4

60,304

72,365

Tangible assets

5

8,477

11,257

68,781

83,622

CURRENT ASSETS

Stocks

60,000

140,250

Debtors

6

74,372

138,366

Cash at bank and in hand

16,366

6,233

150,738

284,849

CREDITORS

Amounts falling due within one year

7

134,798

211,928

NET CURRENT ASSETS

15,940

72,921

TOTAL ASSETS LESS CURRENT LIABILITIES

84,721

156,543

CREDITORS

Amounts falling due after more than one year

8

-

1,389

NET ASSETS

84,721

155,154

CAPITAL AND RESERVES

Called up share capital

120

120

Retained earnings

84,601

155,034

SHAREHOLDERS' FUNDS

84,721

155,154

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 10 October 2018 and were signed on its behalf by:

G J Bartlett - Director

1.	STATUTORY INFORMATION

Parkinson Property Consultants 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 historic cost

convention.

The principle accounting policies adopted in the preparation of the financial statements are set out below.

Turnover

Turnover represents the value of services provided, excluding value added tax, during the year.

Turnover is recognised when the service has occured and an invoice is raised and sent to the customer.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Financial instruments

The following assets and liabilities are classified as financial instruments; trade debtors, Directors' loan accounts,

trade creditors, bank loans and accruals.

Financial instruments that are payable or receivable within one year, typically trade debtors, Directors loan

accounts, trade creditors and accruals are measured initially and subsequently at the undiscounted amount of the

cash ot other consideration that is expected to be paid or received.

Financial instruments repayable in more than one year such as bank loans are initially measured at present value

of the future payments and subsequently at amortised cost using the effective interest method unless the effect of

discounting would be immaterial.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive

Income, except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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 9 (2017 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2017

and 30 April 2018

120,609

AMORTISATION

At 1 May 2017

48,244

Charge for year

12,061

At 30 April 2018

60,305

NET BOOK VALUE

At 30 April 2018

60,304

At 30 April 2017

72,365

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2017

21,031

Additions

1,532

At 30 April 2018

22,563

DEPRECIATION

At 1 May 2017

9,774

Charge for year

4,312

At 30 April 2018

14,086

NET BOOK VALUE

At 30 April 2018

8,477

At 30 April 2017

11,257

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

71,607

115,436

Amounts owed by associates

-

20,087

Other debtors

2,765

2,843

74,372

138,366

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

8,333

Trade creditors

14,256

15,410

Taxation and social security

94,818

91,393

Other creditors

25,724

96,792

134,798

211,928

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

-

1,389

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Within one year

18,315

22,724

Between one and five years

18,315

41,775

36,630

64,499

10.	RELATED PARTY DISCLOSURES

Direct Property Estates Limited

A company under common control

During the year the company received management charges of £9,000 (2017: £9,000) from Direct Property

Estates Limited.