Company Registration No. 2083992 (England and Wales)
Parsons Row Company Limited
Unaudited accounts
for the year ended 31 July 2023
Parsons Row Company Limited
Unaudited accounts
Contents
Parsons Row Company Limited
Company Information
for the year ended 31 July 2023
Company Number
2083992 (England and Wales)
Registered Office
6 ,8 & 10 High Street
Tarring
Worthing
West Sussex
BN14 7NN
Accountants
Ian Sykes and Co Limited
1 Windlesham Gardens
Shoreham by Sea
West Sussex
BN43 5AD
Parsons Row Company Limited
Statement of financial position
as at 31 July 2023
Tangible assets
217,303
217,263
Cash at bank and in hand
25,050
85,200
Creditors: amounts falling due within one year
(66,450)
(68,992)
Net current (liabilities)/assets
(36,614)
28,096
Total assets less current liabilities
180,689
245,359
Creditors: amounts falling due after more than one year
(11,000)
(87,742)
Net assets
169,689
157,617
Called up share capital
37,500
37,500
Share premium
21,650
21,650
Profit and loss account
110,539
98,467
Shareholders' funds
169,689
157,617
For the year ending 31 July 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 16 November 2023 and were signed on its behalf by
W T Lowrey
Director
Company Registration No. 2083992
Parsons Row Company Limited
Notes to the Accounts
for the year ended 31 July 2023
Parsons Row Company Limited is a private company, limited by shares, registered in England and Wales, registration number 2083992. The registered office is 6 ,8 & 10 High Street, Tarring, Worthing, West Sussex, BN14 7NN.
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.
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.
The accounts have been prepared under the historical cost convention.
Revenue, described as turnover, is the value of goods provided to customers during the year.
Revenue is recognised on the sale of goods when the goods are delivered and title has passed.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
In accordance with the property
Plant & machinery
10% straight line
Motor vehicles
25% straight line
Fixtures & fittings
15% straight line
Computer equipment
25% straight line
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is determined on a first in, first out basis. Net realisable value is based on estimated selling price, less any further costs of realisation.
Government grants are recognised under the accrual model meaning that grants relating to revenue shall be recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
Parsons Row Company Limited
Notes to the Accounts
for the year ended 31 July 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 August 2022
215,000
24,617
2,890
15,835
1,804
260,146
Additions
-
1,956
-
-
-
1,956
At 31 July 2023
215,000
26,573
2,890
15,835
1,804
262,102
At 1 August 2022
-
22,981
2,890
15,208
1,804
42,883
Charge for the year
-
1,289
-
627
-
1,916
At 31 July 2023
-
24,270
2,890
15,835
1,804
44,799
At 31 July 2023
215,000
2,303
-
-
-
217,303
At 31 July 2022
215,000
1,636
-
627
-
217,263
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
15,883
15,345
Trade creditors
8,447
8,998
Taxes and social security
13,046
16,512
Other creditors
25,857
26,607
Loans from directors
892
30
The Company has provided a fixed charge over its freehold property to secure part of the bank loan and overdraft totalling £9,880.
7
Creditors: amounts falling due after more than one year
2023
2022
Aggregate of amounts that fall due for payment after five years
-
30,057
8
Average number of employees
During the year the average number of employees was 9 (2022: 9).