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REGISTERED NUMBER: 04604254 (England and Wales)















PARKINSON BUILDERS LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023






PARKINSON BUILDERS LTD (REGISTERED NUMBER: 04604254)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PARKINSON BUILDERS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: C J Leaver
P W Leaver





SECRETARY: C J Leaver





REGISTERED OFFICE: The Exchange
5 Bank Street
Bury
Greater Manchester
BL9 0DN





REGISTERED NUMBER: 04604254 (England and Wales)





ACCOUNTANTS: DTE Business Advisers Limited
Chartered Accountants
The Exchange
5 Bank Street
Bury
BL9 0DN

PARKINSON BUILDERS LTD (REGISTERED NUMBER: 04604254)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 106,549 125,210

CURRENT ASSETS
Debtors 5 363,142 694,585
Cash at bank and in hand 1,258,020 847,619
1,621,162 1,542,204
CREDITORS
Amounts falling due within one year 6 (1,111,560 ) (1,070,482 )
NET CURRENT ASSETS 509,602 471,722
TOTAL ASSETS LESS CURRENT
LIABILITIES

616,151

596,932

CREDITORS
Amounts falling due after more than one
year

7

-

(2,050

)

PROVISIONS FOR LIABILITIES (13,486 ) (13,486 )
NET ASSETS 602,665 581,396

CAPITAL AND RESERVES
Called up share capital 210 210
Retained earnings 602,455 581,186
602,665 581,396

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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.

PARKINSON BUILDERS LTD (REGISTERED NUMBER: 04604254)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 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 Board of Directors and authorised for issue on 24 October 2023 and were signed on its behalf by:




C J Leaver - Director



P W Leaver - Director


PARKINSON BUILDERS LTD (REGISTERED NUMBER: 04604254)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. STATUTORY INFORMATION

Parkinson Builders Ltd is a private company, limited by shares, registered in England and Wales. the company's registered number is 04604254 and registered office address is The Exchange, 5 Bank Street, Bury, Greater Manchester, BL9 0DN.

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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Estimating the useful economic life of an asset and the anticipated residual value are considered the key judgement in calculating an appropriate depreciation charge.

Making judgement based on historical experience on the valuation of amounts receivable on contracts.

Revenue
Revenue represents amounts receivable for goods and services in respect of building contracts net of VAT, invoiced and accrued to date.

Profit is recognised on long-term contracts if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Revenue is calculated relative to the costs incurred to date proportionate to the total expected costs.

Property, plant and equipment
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 reducing balance and 15% on reducing balance

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Government grants
Grants are accounted for under the accruals model as permitted by FRS 102.

During the prior year the company has benefitted from the Government Coronavirus Job Retention Scheme ('Furlough'). Furlough income has been recognised in "other income" in the same period as the related wage costs.

The company has not directly benefitted from any other forms of government assistance.

PARKINSON BUILDERS LTD (REGISTERED NUMBER: 04604254)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Dividends
Equity dividends are recognised when they become legally payable and are no longer at the discretion of the company.

Hire purchase
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 18 ) .

PARKINSON BUILDERS LTD (REGISTERED NUMBER: 04604254)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2022 84,259 157,353 241,612
Additions - 1,255 1,255
At 30 April 2023 84,259 158,608 242,867
DEPRECIATION
At 1 May 2022 13,480 102,922 116,402
Charge for year 1,685 18,231 19,916
At 30 April 2023 15,165 121,153 136,318
NET BOOK VALUE
At 30 April 2023 69,094 37,455 106,549
At 30 April 2022 70,779 54,431 125,210

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 94,151 448,201
Amounts owed by group companies 213,031 209,232
Amounts recoverable on contract 37,174 22,231
Other debtors 18,786 14,921
363,142 694,585

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 2,050 8,201
Trade creditors 621,806 417,302
Amounts owed to group companies 11,500 11,500
Taxation and social security 294,041 257,870
Other creditors 182,163 375,609
1,111,560 1,070,482

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts - 2,050

PARKINSON BUILDERS LTD (REGISTERED NUMBER: 04604254)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 2,050 -

The hire purchase contract is secured against the asset held.