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REGISTERED NUMBER: 09052119 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2023

FOR

PARKER & SON TRANSPORT LTD

PARKER & SON TRANSPORT LTD (REGISTERED NUMBER: 09052119)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PARKER & SON TRANSPORT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2023







DIRECTOR: G Parker





REGISTERED OFFICE: Venture Court
2 Debdale Road
Wellingborough
Northamptonshire
NN8 5AA





REGISTERED NUMBER: 09052119 (England and Wales)





ACCOUNTANTS: ISIS Business Solutions (Northants) LLP
Venture Court
2 Debdale Road
Wellingborough
Northamptonshire
NN8 5AA

PARKER & SON TRANSPORT LTD (REGISTERED NUMBER: 09052119)

BALANCE SHEET
28TH FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 149,274 67,961

CURRENT ASSETS
Debtors 5 145,219 181,369
Cash at bank and in hand 142,942 85,080
288,161 266,449
CREDITORS
Amounts falling due within one year 6 219,448 170,763
NET CURRENT ASSETS 68,713 95,686
TOTAL ASSETS LESS CURRENT LIABILITIES 217,987 163,647

CREDITORS
Amounts falling due after more than one
year

7

14,855

24,591
NET ASSETS 203,132 139,056

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 203,130 139,054
SHAREHOLDERS' FUNDS 203,132 139,056

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

The members have not required the company to obtain an audit of its financial statements for the year ended 28th 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.

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 13th October 2023 and were signed by:



G Parker - Director


PARKER & SON TRANSPORT LTD (REGISTERED NUMBER: 09052119)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023

1. STATUTORY INFORMATION

Parker & Son Transport Ltd 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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

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
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 6 ) .

PARKER & SON TRANSPORT LTD (REGISTERED NUMBER: 09052119)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1st March 2022 3,204 9,315 11,274
Additions - 6,168 -
At 28th February 2023 3,204 15,483 11,274
DEPRECIATION
At 1st March 2022 2,723 9,315 9,082
Charge for year 321 514 548
At 28th February 2023 3,044 9,829 9,630
NET BOOK VALUE
At 28th February 2023 160 5,654 1,644
At 28th February 2022 481 - 2,192

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st March 2022 113,225 11,388 148,406
Additions 97,659 - 103,827
At 28th February 2023 210,884 11,388 252,233
DEPRECIATION
At 1st March 2022 51,302 8,023 80,445
Charge for year 20,290 841 22,514
At 28th February 2023 71,592 8,864 102,959
NET BOOK VALUE
At 28th February 2023 139,292 2,524 149,274
At 28th February 2022 61,923 3,365 67,961

The net book value of tangible fixed assets includes £ 140,077 (2022 - £ 61,923 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 77,334 68,844
Other debtors 67,885 112,525
145,219 181,369

PARKER & SON TRANSPORT LTD (REGISTERED NUMBER: 09052119)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 26,577 23,459
Trade creditors 47,041 8,018
Amounts owed to group undertakings 111,453 113,766
Taxation and social security 28,279 19,328
Other creditors 6,098 6,192
219,448 170,763

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 14,855 24,591

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within other debtors is an amount owing to the company from the director of £54,116 (2021: £98,307). This Loan has no repayment terms.

9. RELATED PARTY DISCLOSURES

Included within hire of machinery is an amount of £30,250(2022: £30,000) paid to Parker Equipment Hire Limited, a connected company.

At the balance sheet date, the company owed money to Parker Equipment Hire Limited, a connected company, of £37,268 (2022: £39,068) and to Parker Transport Holdings Limited, the parent company, of £74,185 (2022: £74,698).