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REGISTERED NUMBER: 03831886 (England and Wales)















PARKROW ALLOYS LIMITED

Unaudited Financial Statements for the Year Ended 30 September 2023






PARKROW ALLOYS LIMITED (REGISTERED NUMBER: 03831886)

Contents of the Financial Statements
for the Year Ended 30 September 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

PARKROW ALLOYS LIMITED

Company Information
for the Year Ended 30 September 2023







DIRECTOR: M W Baker





SECRETARY: Mrs S Baker





REGISTERED OFFICE: Millfields Road
Ettingshall
Wolverhampton
West Midlands
WV4 6JQ





REGISTERED NUMBER: 03831886 (England and Wales)





ACCOUNTANTS: Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB

PARKROW ALLOYS LIMITED (REGISTERED NUMBER: 03831886)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 388,827 396,996

CURRENT ASSETS
Stocks 31,389 180,817
Debtors 5 310,455 507,311
Cash at bank and in hand 139,651 15,243
481,495 703,371
CREDITORS
Amounts falling due within one year 6 158,199 526,884
NET CURRENT ASSETS 323,296 176,487
TOTAL ASSETS LESS CURRENT
LIABILITIES

712,123

573,483

CREDITORS
Amounts falling due after more than one
year

7

-

(112,862

)

PROVISIONS FOR LIABILITIES (522 ) (850 )
NET ASSETS 711,601 459,771

CAPITAL AND RESERVES
Called up share capital 10 231,000 231,000
Share premium 9,000 9,000
Retained earnings 471,601 219,771
SHAREHOLDERS' FUNDS 711,601 459,771

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

PARKROW ALLOYS LIMITED (REGISTERED NUMBER: 03831886)

Balance Sheet - continued
30 September 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 director and authorised for issue on 28 February 2024 and were signed by:





M W Baker - Director


PARKROW ALLOYS LIMITED (REGISTERED NUMBER: 03831886)

Notes to the Financial Statements
for the Year Ended 30 September 2023


1. STATUTORY INFORMATION

Parkrow Alloys 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when goods are physically delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% straight line / 15% reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% straight line / 20% reducing balance

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

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference shares or non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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.


PARKROW ALLOYS LIMITED (REGISTERED NUMBER: 03831886)

Notes to the Financial Statements - continued
for the Year Ended 30 September 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 October 2022
and 30 September 2023 500,000 91,048 11,197 1,147 603,392
DEPRECIATION
At 1 October 2022 107,333 87,047 10,869 1,147 206,396
Charge for year 7,000 1,103 66 - 8,169
At 30 September 2023 114,333 88,150 10,935 1,147 214,565
NET BOOK VALUE
At 30 September 2023 385,667 2,898 262 - 388,827
At 30 September 2022 392,667 4,001 328 - 396,996

Depreciation is charged on freehold property at 2% straight Line. Depreciation charged is calculated on buildings cost only. Freehold property is split between land £150,000 and buildings £350,000.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 140,930 341,293
Due from parent company 160,946 160,946
Prepayments and accrued income 8,579 5,072
310,455 507,311

PARKROW ALLOYS LIMITED (REGISTERED NUMBER: 03831886)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

The trade debtors balance of £140,930 is now not factored (2022: £341,293) is factored. The creditor due to the factoring company is £Nil (2022; £227,142) is disclosed in note 6.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts (see note 8) - 30,000
Trade creditors 110,447 196,338
Social security and other taxes 42,068 67,112
Other creditors 192 192
Barclays Invoice discounting - 227,142
Accrued expenses 5,492 6,100
158,199 526,884

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans (see note 8) - 112,862

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 8,862

8. LOANS

An analysis of the maturity of loans is given below:

30.9.23 30.9.22
£    £   
Amounts falling due within one year or on demand:
Bank loans - 30,000

Amounts falling due between one and two years:
Bank loans - 1-2 years - 30,000

Amounts falling due between two and five years:
Bank loans - 2-5 years - 74,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 8,862

PARKROW ALLOYS LIMITED (REGISTERED NUMBER: 03831886)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.9.23 30.9.22
£    £   
Within one year 3,392 3,432
Between one and five years 4,960 8,352
8,352 11,784

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
231,000 Ordinary £1 231,000 231,000

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M W Baker.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Parkrow Alloys Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Parkrow Alloys Limited for the year ended 30 September 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Parkrow Alloys Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Parkrow Alloys Limited and state those matters that we have agreed to state to the director of Parkrow Alloys Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Parkrow Alloys Limited and its director for our work or for this report.

It is your duty to ensure that Parkrow Alloys 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 Parkrow Alloys Limited. You consider that Parkrow Alloys Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Parkrow Alloys Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB


28 February 2024