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REGISTERED NUMBER: 02608091 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

FOR

PARKER HOSE & FITTINGS LIMITED

PARKER HOSE & FITTINGS LIMITED (REGISTERED NUMBER: 02608091)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PARKER HOSE & FITTINGS LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2022







DIRECTORS: S Leonard
L Leonard





SECRETARY: L Leonard





REGISTERED OFFICE: 101 Galgate
Barnard Castle
Co. Durham
DL12 8ES





REGISTERED NUMBER: 02608091 (England and Wales)





ACCOUNTANTS: Blaeford Gordon & Company Ltd
101 Galgate
Barnard Castle
Co. Durham
DL12 8ES

PARKER HOSE & FITTINGS LIMITED (REGISTERED NUMBER: 02608091)

BALANCE SHEET
30 June 2022

30.6.22 30.6.21
Notes £    £   
FIXED ASSETS
Tangible assets 4 271,633 279,136

CURRENT ASSETS
Stocks 5 1,118,105 729,941
Debtors 6 776,624 810,721
Cash at bank 393,825 369,747
2,288,554 1,910,409
CREDITORS
Amounts falling due within one year 7 (1,626,840 ) (1,245,625 )
NET CURRENT ASSETS 661,714 664,784
TOTAL ASSETS LESS CURRENT
LIABILITIES

933,347

943,920

CREDITORS
Amounts falling due after more than one
year

8

(286,304

)

(411,661

)

PROVISIONS FOR LIABILITIES (54,236 ) (41,597 )
NET ASSETS 592,807 490,662

CAPITAL AND RESERVES
Called up share capital 125 125
Retained earnings 592,682 490,537
SHAREHOLDERS' FUNDS 592,807 490,662

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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.

PARKER HOSE & FITTINGS LIMITED (REGISTERED NUMBER: 02608091)

BALANCE SHEET - continued
30 June 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 5 September 2022 and were signed on its behalf by:




S Leonard - Director



L Leonard - Director


PARKER HOSE & FITTINGS LIMITED (REGISTERED NUMBER: 02608091)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2022

1. STATUTORY INFORMATION

Parker Hose & Fittings 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
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
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance

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

Financial instruments
The company has elected to apply the provisions of Section 11 and Section 12 of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2021 - 23 ) .

PARKER HOSE & FITTINGS LIMITED (REGISTERED NUMBER: 02608091)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2022

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2021 38,111 264,720 141,715 295,016 739,562
Additions - 3,725 - 46,950 50,675
Disposals - - - (33,634 ) (33,634 )
At 30 June 2022 38,111 268,445 141,715 308,332 756,603
DEPRECIATION
At 1 July 2021 36,083 163,255 110,757 150,331 460,426
Charge for year 2,028 10,519 4,644 26,585 43,776
Eliminated on disposal - - - (19,232 ) (19,232 )
At 30 June 2022 38,111 173,774 115,401 157,684 484,970
NET BOOK VALUE
At 30 June 2022 - 94,671 26,314 150,648 271,633
At 30 June 2021 2,028 101,465 30,958 144,685 279,136

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2021 47,785 274,271 322,056
Disposals - (33,634 ) (33,634 )
At 30 June 2022 47,785 240,637 288,422
DEPRECIATION
At 1 July 2021 22,322 129,588 151,910
Charge for year 2,547 23,037 25,584
Eliminated on disposal - (19,232 ) (19,232 )
At 30 June 2022 24,869 133,393 158,262
NET BOOK VALUE
At 30 June 2022 22,916 107,244 130,160
At 30 June 2021 25,463 144,683 170,146

5. STOCKS
30.6.22 30.6.21
£    £   
Stocks 1,118,105 729,941

PARKER HOSE & FITTINGS LIMITED (REGISTERED NUMBER: 02608091)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.22 30.6.21
£    £   
Factored debts 776,624 807,850
Prepayments - 2,871
776,624 810,721

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.22 30.6.21
£    £   
Hire purchase contracts (see note 9) 22,025 23,783
Trade creditors 782,895 552,215
Tax 51,706 58,003
VAT 30,474 43,934
Short term loans 82,500 20,000
Debtor advances 605,998 437,062
Accrued expenses 51,242 110,628
1,626,840 1,245,625

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.22 30.6.21
£    £   
Other loans - 1-2 years 166,667 250,000
Hire purchase contracts (see note 9) 74,637 96,661
Pension scheme loan 45,000 65,000
286,304 411,661

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.6.22 30.6.21
£    £   
Net obligations repayable:
Within one year 22,025 23,783
Between one and five years 74,637 96,661
96,662 120,444

PARKER HOSE & FITTINGS LIMITED (REGISTERED NUMBER: 02608091)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2022

10. SECURED DEBTS

The following secured debts are included within creditors:

30.6.22 30.6.21
£    £   
Hire purchase contracts 96,662 120,444
Pension scheme loan 65,000 85,000
Due to Lloyds factoring 605,998 437,062
767,660 642,506

The bank overdraft and factoring facilities are secured by way of all assets debentures in favour of Lloyds TSB Commercial Finance Ltd.

Hire purchase contracts are secured by the assets to which they relate.

11. RELATED PARTY DISCLOSURES

Parker Hose & Fittings Ltd RBS

Mr S Leonard and Mr L J Leonard are the beneficiaries under the scheme.

During the year the company paid rent totalling £87,725 (2021 - £87,725) to the scheme.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S Leonard.

Mr S Leonard owns 80% of the issued share capital of the company.