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Company Registration No. 05819351 (England and Wales)
Sean Parker Ltd Unaudited accounts for the year ended 31 May 2023
Sean Parker Ltd Unaudited accounts Contents
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Sean Parker Ltd Company Information for the year ended 31 May 2023
Director
S B Parker
Secretary
E M Parker
Company Number
05819351 (England and Wales)
Registered Office
THE ORCHARD MITHIAN ST AGNES CORNWALL ENGLAND
Accountants
Gain Accountancy Ltd The Orchard Mithian St Agnes Cornwall TR5 0QF
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Sean Parker Ltd Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
116,787 
69,377 
Current assets
Inventories
120,418 
84,073 
Debtors
117,769 
144,895 
Cash at bank and in hand
60,051 
52,353 
298,238 
281,321 
Creditors: amounts falling due within one year
(173,610)
(145,184)
Net current assets
124,628 
136,137 
Total assets less current liabilities
241,415 
205,514 
Creditors: amounts falling due after more than one year
(140,060)
(168,380)
Provisions for liabilities
Deferred tax
(3,326)
(11,602)
Net assets
98,029 
25,532 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
97,929 
25,432 
Shareholders' funds
98,029 
25,532 
For the year ending 31 May 2023 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 September 2023 and were signed on its behalf by
S B Parker Director Company Registration No. 05819351
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Sean Parker Ltd Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Sean Parker Ltd is a private company, limited by shares, registered in England and Wales, registration number 05819351. The registered office is THE ORCHARD, MITHIAN, ST AGNES, CORNWALL, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance and 20% on reducing balance
Motor vehicles
25% on reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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 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 have been enacted or substantively enacted by the balance sheet date. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Current or deferred tax assets and liabilities are not discounted.
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Sean Parker Ltd Notes to the Accounts for the year ended 31 May 2023
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2022
74,859 
67,723 
142,582 
Additions
33,724 
47,829 
81,553 
At 31 May 2023
108,583 
115,552 
224,135 
Depreciation
At 1 June 2022
36,355 
36,850 
73,205 
Charge for the year
14,466 
19,677 
34,143 
At 31 May 2023
50,821 
56,527 
107,348 
Net book value
At 31 May 2023
57,762 
59,025 
116,787 
At 31 May 2022
38,504 
30,873 
69,377 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
73,724 
103,824 
Accrued income and prepayments
4,742 
4,525 
Other debtors
39,303 
36,546 
117,769 
144,895 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
53,546 
49,394 
Obligations under finance leases and hire purchase contracts
12,250 
9,206 
Trade creditors
63,023 
59,805 
Taxes and social security
44,174 
26,373 
Other creditors
436 
236 
Accruals
181 
170 
173,610 
145,184 
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Sean Parker Ltd Notes to the Accounts for the year ended 31 May 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
97,955 
151,511 
Obligations under finance leases and hire purchase contracts
42,105 
16,869 
140,060 
168,380 
8
Average number of employees
During the year the average number of employees was 6 (2022: 7).
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