Parking Control Management (UK) Limited - Accounts to registrar (filleted) - small 18.2
Parking Control Management (UK) Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 March 2018 |
| for |
| Parking Control Management (UK) Limited |
| Parking Control Management (UK) Limited (Registered number: 04395994) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2018 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Parking Control Management (UK) Limited |
| Company Information |
| for the Year Ended 31 March 2018 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 5 Technology Park |
| Colindeep Lane |
| Colindale |
| London |
| NW9 6BX |
| Parking Control Management (UK) Limited (Registered number: 04395994) |
| Statement of Financial Position |
| 31 March 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | 10 |
| SHAREHOLDERS' FUNDS |
| 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. |
| Parking Control Management (UK) Limited (Registered number: 04395994) |
| Statement of Financial Position - continued |
| 31 March 2018 |
| 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 director on |
| Parking Control Management (UK) Limited (Registered number: 04395994) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2018 |
| 1. | STATUTORY INFORMATION |
| Parking Control Management (UK) Limited is a |
| Wales. The company's registered number and registered office address can be found on the Company |
| Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover comprises of revenue (excluding value added tax) recognised by the company in respect of payments |
| for Parking Charge Notices (PCNs). Revenue has been recognised on a cash receipt basis. The PCNs are issued |
| to motorists if they breach the terms and conditions set out in the signage period. The PCN revenue is retained by |
| the company in return for a free car park management service provided to its clients. |
| Annual parking permit revenue is recognised over the term of the contract (excluding value added tax). |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Financial instruments |
| Debtors |
| Short term debtors are measured at transaction price, less any impairment. |
| Creditors |
| Short term creditors are measured at transaction price. |
| 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 statement of financial position date. |
| Parking Control Management (UK) Limited (Registered number: 04395994) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
| of the future payments is treated as a liability. |
| 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. |
| Finance costs |
| Finance costs are charged to the Statement of income and retained earnings over the term of the debt using the |
| effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are |
| initially recognised as a reduction in the proceeds of the associated capital instrument. |
| All borrowing costs are recognised in the Statement of income and retained earnings in the year in which they are |
| incurred. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Parking Control Management (UK) Limited (Registered number: 04395994) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and | Motor | Computer |
| property | machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 April 2017 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2018 |
| DEPRECIATION |
| At 1 April 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 April 2017 |
| Additions |
| Disposals | ( |
) |
| At 31 March 2018 |
| DEPRECIATION |
| At 1 April 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments |
| Parking Control Management (UK) Limited (Registered number: 04395994) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Corporation tax |
| PAYE/NI |
| VAT | 78,702 | 69,349 |
| Other creditors |
| Directors' current accounts | 718 | 34 |
| Accruals and deferred income |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more than 5 years |
| Hire purchase contracts |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more than 5 years | 184,349 | 199,030 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 464,997 | 343,150 |
| 9. | PROVISIONS FOR LIABILITIES |
| 2018 | 2017 |
| £ | £ |
| Deferred tax | 41,727 | - |
| Deferred |
| tax |
| £ |
| Charge to Statement of Comprehensive Income during year |
| Balance at 31 March 2018 |
| Parking Control Management (UK) Limited (Registered number: 04395994) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 10. | RESERVES |
| Retained earnings includes all current and prior period retained profits and loss, all of which, are distributable |
| reserves. |