PARKES BROS LIMITED

Company Registration Number:
04569427 (England and Wales)

Unaudited abridged accounts for the year ended 30 November 2021

Period of accounts

Start date: 01 December 2020

End date: 30 November 2021

PARKES BROS LIMITED

Contents of the Financial Statements

for the Period Ended 30 November 2021

Balance sheet
Notes

PARKES BROS LIMITED

Balance sheet

As at 30 November 2021


Notes

2021

2020


£

£
Fixed assets
Tangible assets: 3 6,529 8,125
Total fixed assets: 6,529 8,125
Current assets
Stocks: 1,620 4,000
Debtors: 4 56,534 34,309
Cash at bank and in hand: 93,599 124,583
Total current assets: 151,753 162,892
Creditors: amounts falling due within one year: 5 (60,497) (79,259)
Net current assets (liabilities): 91,256 83,633
Total assets less current liabilities: 97,785 91,758
Creditors: amounts falling due after more than one year: 6 (28,667) (36,667)
Provision for liabilities: (1,215) (1,515)
Total net assets (liabilities): 67,903 53,576
Capital and reserves
Called up share capital: 10 10
Profit and loss account: 67,893 53,566
Shareholders funds: 67,903 53,576

The notes form part of these financial statements

PARKES BROS LIMITED

Balance sheet statements

For the year ending 30 November 2021 the company was entitled to exemption 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 this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 18 August 2022
and signed on behalf of the board by:

Name: D Parkes
Status: Director

The notes form part of these financial statements

PARKES BROS LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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 policy

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:Plant and Machinery 15% reducing balanceFixtures and Fittings 15% reducing balanceMotor Vehicles 25% reducing balanceComputer Equipment 33% reducing balance

Valuation and information policy

Stocks are valued at the lower of cost and net realisable value, after making allowances for obsolete and slow-moving items.

Other accounting policies

HIRE PURCHASE AND LEASING Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.PENSION COSTS The Company operates a defined contribution pension scheme, payments to which are charged to profit or loss in the period to which they relate.

PARKES BROS LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2021

2. Employees

2021 2020
Average number of employees during the period 3 3

PARKES BROS LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2021

3. Tangible Assets

Total
Cost £
At 01 December 2020 37,961
Additions 516
At 30 November 2021 38,477
Depreciation
At 01 December 2020 29,836
Charge for year 2,112
At 30 November 2021 31,948
Net book value
At 30 November 2021 6,529
At 30 November 2020 8,125

PARKES BROS LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2021

4. Debtors

2021 2020
££
Debtors due after more than one year: 0 0

PARKES BROS LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2021

5. Creditors: amounts falling due within one year note

.............................................................2021...................2020 Bank Borrowings............................8000..................3333 Trade Creditors..............................22589................30356 Owed to Related Company............0.........................6148 Tax and Social Security...............26870..................36675 Other Creditors...............................3038....................2747

PARKES BROS LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2021

6. Creditors: amounts falling due after more than one year note

.........................................................2021.........................2020 Bank Borrowings......................28667.......................36667

PARKES BROS LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2021

7. Loans to directors

Name of director receiving advance or credit: D Parkes
Description of the loan: Director's Current Account
£
Balance at 01 December 2020 28,363
Advances or credits made: 44,124
Advances or credits repaid: 28,363
Balance at 30 November 2021 44,124

Beneficial loan interest of £732 (2020:-£377) has been charged at 2% and 2.25% per annum on the overdrawn balance.

PARKES BROS LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2021

8. Related party transactions

Name of the related party:
Relationship:
Common Control
Description of the Transaction: Payment of associate's liabilities
£
Balance at 01 December 2020 2,373
Balance at 30 November 2021 6,148