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REGISTERED NUMBER: SC040009 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

PARKER BROS. (KILMARNOCK) LIMITED

PARKER BROS. (KILMARNOCK) LIMITED (REGISTERED NUMBER: SC040009)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PARKER BROS. (KILMARNOCK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: R Parker
Mrs F M Parker





REGISTERED OFFICE: 26 Portland Road
Kilmarnock
KA1 2EB





REGISTERED NUMBER: SC040009 (Scotland)





ACCOUNTANTS: Henry Brown & Co
Chartered Accountants
26 Portland Road
Kilmarnock
Ayrshire
KA1 2EB

PARKER BROS. (KILMARNOCK) LIMITED (REGISTERED NUMBER: SC040009)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 154,641 54,713
154,641 54,713

CURRENT ASSETS
Stocks 3,727 62,100
Debtors 6 612 1,484
Cash at bank 22,173 8,924
26,512 72,508
CREDITORS
Amounts falling due within one year 7 53,445 57,519
NET CURRENT (LIABILITIES)/ASSETS (26,933 ) 14,989
TOTAL ASSETS LESS CURRENT
LIABILITIES

127,708

69,702

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Revaluation reserve 8 103,266 -
Retained earnings 4,442 49,702
SHAREHOLDERS' FUNDS 127,708 69,702

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

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

PARKER BROS. (KILMARNOCK) LIMITED (REGISTERED NUMBER: SC040009)

BALANCE SHEET - continued
28 FEBRUARY 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 29 November 2023 and were signed on its behalf by:





R Parker - Director


PARKER BROS. (KILMARNOCK) LIMITED (REGISTERED NUMBER: SC040009)

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

1. STATUTORY INFORMATION

Parker Bros. (Kilmarnock) Limited is a private company, limited by shares , registered in Scotland. 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 (£).


The financial statements relate to a single company.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the net invoiced sales of disability scooters and related products, stated net of value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Freehold property - 2% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


PARKER BROS. (KILMARNOCK) LIMITED (REGISTERED NUMBER: SC040009)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 8,000
AMORTISATION
At 1 March 2022
and 28 February 2023 8,000
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

PARKER BROS. (KILMARNOCK) LIMITED (REGISTERED NUMBER: SC040009)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST OR VALUATION
At 1 March 2022 89,553 9,218 4,766
Disposals - (9,218 ) (4,766 )
Revaluations 60,447 - -
At 28 February 2023 150,000 - -
DEPRECIATION
At 1 March 2022 41,028 9,218 4,766
Charge for year 1,791 - -
Eliminated on disposal - (9,218 ) (4,766 )
Revaluation adjustments (42,819 ) - -
At 28 February 2023 - - -
NET BOOK VALUE
At 28 February 2023 150,000 - -
At 28 February 2022 48,525 - -

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 March 2022 49,027 636 153,200
Disposals - (636 ) (14,620 )
Revaluations - - 60,447
At 28 February 2023 49,027 - 199,027
DEPRECIATION
At 1 March 2022 42,839 636 98,487
Charge for year 1,547 - 3,338
Eliminated on disposal - (636 ) (14,620 )
Revaluation adjustments - - (42,819 )
At 28 February 2023 44,386 - 44,386
NET BOOK VALUE
At 28 February 2023 4,641 - 154,641
At 28 February 2022 6,188 - 54,713

PARKER BROS. (KILMARNOCK) LIMITED (REGISTERED NUMBER: SC040009)

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

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 28 February 2023 is represented by:

Freehold Motor
property vehicles Totals
£    £    £   
Valuation in 2023 60,448 - 60,448
Cost 89,552 49,027 138,579
150,000 49,027 199,027

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 89,552 -
Aggregate depreciation 42,819 -

Value of land in freehold land and buildings 46,733 -

Freehold land and buildings were valued on an open market basis on 28 February 2023 by an independent surveyor .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 March 2022
and 28 February 2023 19,337
DEPRECIATION
At 1 March 2022
and 28 February 2023 13,667
NET BOOK VALUE
At 28 February 2023 5,670
At 28 February 2022 5,670

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 612 1,429
Other debtors - 55
612 1,484

PARKER BROS. (KILMARNOCK) LIMITED (REGISTERED NUMBER: SC040009)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 3,191
Trade creditors 3,269 6,321
Taxation and social security 4,093 (232 )
Other creditors 46,083 48,239
53,445 57,519

8. RESERVES
Revaluation
reserve
£   
Property revaluation 103,266

At 28 February 2023 103,266

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr R Parker and his wife Fiona.