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REGISTERED NUMBER: 12469707 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Parson Funerals Limited

Parson Funerals Limited (Registered number: 12469707)






Contents of the Financial Statements
for the year ended 28 February 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Parson Funerals Limited (Registered number: 12469707)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 65,535 87,380
Tangible assets 6 19,731 25,734
85,266 113,114

CURRENT ASSETS
Stocks 800 649
Debtors 7 16,802 19,416
Cash at bank 11,515 818
29,117 20,883
CREDITORS
Amounts falling due within one year 8 144,728 94,099
NET CURRENT LIABILITIES (115,611 ) (73,216 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(30,345

)

39,898

CREDITORS
Amounts falling due after more than one
year

9

93,201

113,037
NET LIABILITIES (123,546 ) (73,139 )

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings (123,549 ) (73,142 )
(123,546 ) (73,139 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Parson Funerals Limited (Registered number: 12469707)

Balance Sheet - continued
28 February 2023


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 director and authorised for issue on 18 October 2023 and were signed by:





R W Parson - Director


Parson Funerals Limited (Registered number: 12469707)

Notes to the Financial Statements
for the year ended 28 February 2023

1. STATUTORY INFORMATION

Parson Funerals Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12469707

Registered office: 15 Woolwell Drive
Plymouth
PL6 7JP

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Revenue from funeral services comprises the amount recoverable from clients for the provision of funerals, income from crematoria and other services, once those services have been performed or the goods supplied.

Income from memorial sales is recognised at the point of sale, to the extent that the goods have been supplied.

The company pays certain disbursements (such as crematoria fees, ministers' fees and doctors' fees) on behalf of its clients. These amounts are recovered as part of the invoicing process. However, these amounts are not included within net revenues as they are simply passed on to the clients at cost.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and over the length of the lease

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


Parson Funerals Limited (Registered number: 12469707)

Notes to the Financial Statements - continued
for the year ended 28 February 2023

3. ACCOUNTING POLICIES - continued
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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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
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.

Going concern
The company made a loss for the year and as at the balance sheet date the company had net liabilities of £123,546. The director has confirmed that he will continue to provide financial support to the company for the foreseeable future. On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 5 ) .

Parson Funerals Limited (Registered number: 12469707)

Notes to the Financial Statements - continued
for the year ended 28 February 2023

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 109,225
AMORTISATION
At 1 March 2022 21,845
Charge for year 21,845
At 28 February 2023 43,690
NET BOOK VALUE
At 28 February 2023 65,535
At 28 February 2022 87,380

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 33,780
Additions 3,950
Disposals (2,500 )
At 28 February 2023 35,230
DEPRECIATION
At 1 March 2022 8,046
Charge for year 8,286
Eliminated on disposal (833 )
At 28 February 2023 15,499
NET BOOK VALUE
At 28 February 2023 19,731
At 28 February 2022 25,734

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 10,279 12,501
Other debtors 6,523 6,915
16,802 19,416

Parson Funerals Limited (Registered number: 12469707)

Notes to the Financial Statements - continued
for the year ended 28 February 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 459 -
Other creditors 144,269 94,099
144,728 94,099

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 93,201 113,037