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Company registration number: 11803450
M & L Parker Associates Limited
Unaudited filleted financial statements
28 February 2023
M & L Parker Associates Limited
Contents
Directors and other information
Accountant's report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
M & L Parker Associates Limited
Directors and other information
Directors Mark Parker
Lisa-Jane Parker
Company number 11803450
Registered office Sovereign House
82, West Street
Rochford
Essex
SS4 1AS
Business address 42, Albemarle Link
Chelmsford
Essex
CM1 6AG
Accountant Andrew Murphy Chartered Accountants
Sovereign House
82, West Street
Rochford
Essex
SS4 1AS
M & L Parker Associates Limited
Chartered accountant's report to the board of directors on the preparation of the
unaudited statutory financial statements of M & L Parker Associates Limited
Year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of M & L Parker Associates Limited for the year ended 28 February 2023 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of M & L Parker Associates Limited, as a body, in accordance with the terms of my engagement letter dated 4 February 2019. My work has been undertaken solely to prepare for your approval the financial statements of M & L Parker Associates Limited and state those matters that we have agreed to state to the board of directors of M & L Parker Associates Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than M & L Parker Associates Limited and its board of directors as a body for my work or for this report.
It is your duty to ensure that M & L Parker Associates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of M & L Parker Associates Limited. You consider that M & L Parker Associates Limited is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of M & L Parker Associates Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Andrew Murphy Chartered Accountants
Sovereign House
82, West Street
Rochford
Essex
SS4 1AS
20 November 2023
M & L Parker Associates Limited
Statement of financial position
28 February 2023
2023 2022
Note £ £ £ £
Current assets
Debtors 7 42,957 12,902
Cash at bank and in hand 53,100 23,988
_______ _______
96,057 36,890
Creditors: amounts falling due
within one year 8 ( 33,004) ( 36,058)
_______ _______
Net current assets 63,053 832
_______ _______
Total assets less current liabilities 63,053 832
_______ _______
Net assets 63,053 832
_______ _______
Capital and reserves
Called up share capital 9 100 100
Profit and loss account 62,953 732
_______ _______
Shareholders funds 63,053 832
_______ _______
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 November 2023 , and are signed on behalf of the board by:
Mark Parker
Director
Company registration number: 11803450
M & L Parker Associates Limited
Statement of changes in equity
Year ended 28 February 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 March 2021 100 453 553
Profit for the year 60,279 60,279
_______ _______ _______
Total comprehensive income for the year - 60,279 60,279
Dividends paid and payable ( 60,000) ( 60,000)
_______ _______ _______
Total investments by and distributions to owners - ( 60,000) ( 60,000)
_______ _______ _______
At 28 February 2022 and 1 March 2022 100 732 832
Profit for the year 129,221 129,221
_______ _______ _______
Total comprehensive income for the year - 129,221 129,221
Dividends paid and payable ( 67,000) ( 67,000)
_______ _______ _______
Total investments by and distributions to owners - ( 67,000) ( 67,000)
_______ _______ _______
At 28 February 2023 100 62,953 63,053
_______ _______ _______
M & L Parker Associates Limited
Notes to the financial statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Sovereign House, 82, West Street, Rochford, Essex, SS4 1AS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
The aggregate payroll costs incurred during the year were:
2023 2022
£ £
Wages and salaries 19,634 19,114
Other pension costs 2,400 2,600
_______ _______
22,034 21,714
_______ _______
5. Tax on profit
Major components of tax expense
2023 2022
£ £
Current tax:
UK current tax expense 30,311 14,140
_______ _______
Tax on profit 30,311 14,140
_______ _______
6. Dividends
Equity dividends
2023 2022
£ £
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year) 67,000 60,000
_______ _______
7. Debtors
2023 2022
£ £
Trade debtors 34,305 12,902
Other debtors 8,652 -
_______ _______
42,957 12,902
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Corporation tax 30,311 14,140
Other creditors 2,693 21,918
_______ _______
33,004 36,058
_______ _______
9. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mark Parker ( 18,858) - 27,510 8,652
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mark Parker ( 15,995) ( 2,863) - ( 18,858)
_______ _______ _______ _______
11. Controlling party
Mark Parker controls the company.