REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 |
FOR |
PARKER HOSE & FITTINGS LIMITED |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
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 |
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 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 June 2022 |
DEPRECIATION |
At 1 July 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 June 2022 |
NET BOOK VALUE |
At 30 June 2022 |
At 30 June 2021 |
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 |
Disposals | ( |
) | ( |
) |
At 30 June 2022 |
DEPRECIATION |
At 1 July 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 June 2022 |
NET BOOK VALUE |
At 30 June 2022 |
At 30 June 2021 |
5. | STOCKS |
30.6.22 | 30.6.21 |
£ | £ |
Stocks |
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 |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.22 | 30.6.21 |
£ | £ |
Hire purchase contracts (see note 9) |
Trade creditors |
Tax |
VAT | 30,474 | 43,934 |
Short term loans |
Debtor advances |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.22 | 30.6.21 |
£ | £ |
Other loans - 1-2 years |
Hire purchase contracts (see note 9) |
Pension scheme loan |
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 |
Between one and five years |
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 |
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 |
Mr S Leonard owns 80% of the issued share capital of the company. |