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PARKCITY MULTITRADE LIMITED

Unaudited Financial Statements

for the Year Ended 31st May 2023






PARKCITY MULTITRADE LIMITED (REGISTERED NUMBER: 08071872)






Contents of the Financial Statements
for the year ended 31st May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PARKCITY MULTITRADE LIMITED

Company Information
for the year ended 31st May 2023







DIRECTORS: Mrs V Williams
M Davies





REGISTERED OFFICE: Unit 10 New Vision Business Park
Glascoed Road
St Asaph
Denbighshire





REGISTERED NUMBER: 08071872 (England and Wales)





ACCOUNTANTS: Haines Watts Wirral Limited
1 Abbots Quay
Monks Ferry
Birkenhead
Merseyside
CH41 5LH

PARKCITY MULTITRADE LIMITED (REGISTERED NUMBER: 08071872)

Balance Sheet
31st May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 538,554 452,577
Investment property 5 144,502 -
683,056 452,577

CURRENT ASSETS
Work in progress 687,723 757,500
Debtors 6 307,488 1,143,144
Cash at bank 2,696,340 1,579,450
3,691,551 3,480,094
CREDITORS
Amounts falling due within one year 7 947,014 925,624
NET CURRENT ASSETS 2,744,537 2,554,470
TOTAL ASSETS LESS CURRENT LIABILITIES 3,427,593 3,007,047

CREDITORS
Amounts falling due after more than one
year

8

12,431

-
NET ASSETS 3,415,162 3,007,047

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 3,415,061 3,006,946
SHAREHOLDERS' FUNDS 3,415,162 3,007,047

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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.

PARKCITY MULTITRADE LIMITED (REGISTERED NUMBER: 08071872)

Balance Sheet - continued
31st May 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 2nd November 2023 and were signed on its behalf by:





Mrs V Williams - Director


PARKCITY MULTITRADE LIMITED (REGISTERED NUMBER: 08071872)

Notes to the Financial Statements
for the year ended 31st May 2023

1. STATUTORY INFORMATION

Parkcity Multitrade Limited 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.

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


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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing work in progress to their present location and condition.

Financial instruments
Trade creditors and directors loan (being repayable on demand) are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

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.


PARKCITY MULTITRADE LIMITED (REGISTERED NUMBER: 08071872)

Notes to the Financial Statements - continued
for the year ended 31st May 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 54 (2022 - 108 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1st June 2022 17,265 99,712 8,844
Additions - 10,146 3,841
Disposals - - -
At 31st May 2023 17,265 109,858 12,685
DEPRECIATION
At 1st June 2022 7,381 37,824 6,839
Charge for year 1,483 10,805 877
Eliminated on disposal - - -
At 31st May 2023 8,864 48,629 7,716
NET BOOK VALUE
At 31st May 2023 8,401 61,229 4,969
At 31st May 2022 9,884 61,888 2,005

PARKCITY MULTITRADE LIMITED (REGISTERED NUMBER: 08071872)

Notes to the Financial Statements - continued
for the year ended 31st May 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st June 2022 805,840 26,265 957,926
Additions 345,626 - 359,613
Disposals (208,827 ) - (208,827 )
At 31st May 2023 942,639 26,265 1,108,712
DEPRECIATION
At 1st June 2022 442,997 10,308 505,349
Charge for year 151,521 6,566 171,252
Eliminated on disposal (106,443 ) - (106,443 )
At 31st May 2023 488,075 16,874 570,158
NET BOOK VALUE
At 31st May 2023 454,564 9,391 538,554
At 31st May 2022 362,843 15,957 452,577

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 144,502
At 31st May 2023 144,502
NET BOOK VALUE
At 31st May 2023 144,502

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 296,376 913,864
Amounts owed by associates 5,452 5,313
Other debtors 5,660 223,967
307,488 1,143,144

PARKCITY MULTITRADE LIMITED (REGISTERED NUMBER: 08071872)

Notes to the Financial Statements - continued
for the year ended 31st May 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 7,341 429
Trade creditors 401,516 345,605
Taxation and social security 536,319 576,484
Other creditors 1,838 3,106
947,014 925,624

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 12,431 -

9. RELATED PARTY DISCLOSURES

As of 31 May 2023 the company is owed £5,452 (2022 - £5,313) from Parkcity Painting Limited, a company of which Vanessa Williams and Matthew Davies are also directors.