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REGISTERED NUMBER: 04389415 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

PARKERS OF REIGATE LIMITED

PARKERS OF REIGATE LIMITED (REGISTERED NUMBER: 04389415)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


PARKERS OF REIGATE LIMITED (REGISTERED NUMBER: 04389415)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 5,816 3,857
5,816 3,857

CURRENT ASSETS
Debtors 7 492,996 352,983
Cash at bank 56,925 161,641
549,921 514,624
CREDITORS
Amounts falling due within one year 8 388,217 313,063
NET CURRENT ASSETS 161,704 201,561
TOTAL ASSETS LESS CURRENT
LIABILITIES

167,520

205,418

CREDITORS
Amounts falling due after more than one
year

9

-

55,417
NET ASSETS 167,520 150,001

CAPITAL AND RESERVES
Called up share capital 90 90
Retained earnings 167,430 149,911
SHAREHOLDERS' FUNDS 167,520 150,001

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

PARKERS OF REIGATE LIMITED (REGISTERED NUMBER: 04389415)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 March 2024 and were signed by:





Mrs E M Leeson - Director


PARKERS OF REIGATE LIMITED (REGISTERED NUMBER: 04389415)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Parkers of Reigate Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04389415

Registered office: Chancery House
3 Hatchlands Road
Redhill
RH1 6AA

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


All amounts in the financial statements have been rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The directors have considered the company's financial requirements for the forthcoming year and based upon that assessment they expect the company to have sufficient cash reserves to meet those requirements and they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the entity either as a lessor or a lessee are operating or lease or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.
- Determine whether there are indicators of impairment of the entity's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Other key sources of estimation uncertainty

Tangible fixed assets
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

PARKERS OF REIGATE LIMITED (REGISTERED NUMBER: 04389415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

3. ACCOUNTING POLICIES - continued

Turnover and revenue recognition
Turnover represents net invoiced sales of services, excluding value added tax. Revenue is recognised when the company fulfils its contractual obligations to customers by supplying services.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of business in 2009, 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.

Fixtures and fittings etc - 20% on reducing balance, 33% on straight line and 25% on straight line.
Plant and machinery - 15% on reducing balance

Financial instruments
Basic financial assets, which include trade debtors, other debtors and cash and bank balances, are initially measured at the transaction price including transaction costs and are subsequently recognised at amortised cost.

Basic financial liabilities, including trade creditors and other creditors, are initially recognised at transaction price and are subsequently recognised at amortised cost.

The company has no financial assets or financial liabilities measured at fair value.

The company is not exposed to any risk arising from the interest rate benchmark reform as LIBOR is replaced with alternative benchmark interest rates.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

PARKERS OF REIGATE LIMITED (REGISTERED NUMBER: 04389415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

3. ACCOUNTING POLICIES - continued

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.

Rentals received under operating leases are credited to the profit and loss account 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.

Factoring
Where debts are factored, the gross amount of the debt is included within the company's sales ledger, with advances secured under the factoring arrangement shown by the way of a liability.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 142,225
AMORTISATION
At 1 August 2022
and 31 July 2023 142,225
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

PARKERS OF REIGATE LIMITED (REGISTERED NUMBER: 04389415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 13,609
Additions 3,529
At 31 July 2023 17,138
DEPRECIATION
At 1 August 2022 9,752
Charge for year 1,570
At 31 July 2023 11,322
NET BOOK VALUE
At 31 July 2023 5,816
At 31 July 2022 3,857

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 24,578 6,876
Amounts owed by group undertakings 147,489 152,177
Other debtors 320,929 193,930
492,996 352,983

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 19,000
Trade creditors 140,021 120,959
Taxation and social security 197,915 153,994
Other creditors 50,281 19,110
388,217 313,063

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 55,417

10. LEASING AGREEMENTS
At the balance sheet date the company had total commitments under non-cancellable operating leases over the remaining life of those lease of £11,120 (2022: £17,186).

PARKERS OF REIGATE LIMITED (REGISTERED NUMBER: 04389415)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 74,417

The bank loan is secured by a fixed and floating charge over all of the assets of the company. The loan has been fully repaid during the year.

12. ULTIMATE PARENT AND PARENT UNDERTAKING

Parkers of Reigate Holdings Limited, a company registered in England and Wales, is regarded by the director as being the company's parent and ultimate parent company. The registered office of Parkers of Reigate Holdings Limited is at Chancery House 3 Hatchlands Road Redhill Surrey RH1 6AA.