Company Registration No. 12244019 (England and Wales)
S J Parkinson Transport of Lincoln Ltd
Unaudited accounts
for the year ended 31 October 2023
S J Parkinson Transport of Lincoln Ltd
Unaudited accounts
Contents
S J Parkinson Transport of Lincoln Ltd
Company Information
for the year ended 31 October 2023
Company Number
12244019 (England and Wales)
Registered Office
112-113 High Street
LINCOLN
LN5 7PY
UNITED KINGDOM
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA
Templar Accounting & Business Support
Services Limited (Incorp: Blake and Co )
112 - 113 High Street,
Lincoln, Lincolnshire
LN5 7PY
S J Parkinson Transport of Lincoln Ltd
Statement of financial position
as at 31 October 2023
Tangible assets
23,099
28,874
Cash at bank and in hand
24,170
20,515
Creditors: amounts falling due within one year
(21,068)
(13,389)
Net current assets
7,386
10,985
Total assets less current liabilities
30,485
39,859
Creditors: amounts falling due after more than one year
(9,424)
(14,412)
Provisions for liabilities
Deferred tax
(6,787)
(7,356)
Called up share capital
100
100
Profit and loss account
14,174
17,991
Shareholders' funds
14,274
18,091
For the year ending 31 October 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 2 April 2024 and were signed on its behalf by
Simon Parkinson
Director
Company Registration No. 12244019
S J Parkinson Transport of Lincoln Ltd
Notes to the Accounts
for the year ended 31 October 2023
S J Parkinson Transport of Lincoln Ltd is a private company, limited by shares, registered in England and Wales, registration number 12244019. The registered office is 112-113 High Street, LINCOLN, LN5 7PY, UNITED KINGDOM.
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 as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing balance
Motor vehicles
20% Reducing balance
Computer equipment
20% Reducing balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
S J Parkinson Transport of Lincoln Ltd
Notes to the Accounts
for the year ended 31 October 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2022
516
46,924
750
48,190
At 31 October 2023
516
46,924
750
48,190
At 1 November 2022
185
18,765
366
19,316
Charge for the year
66
5,632
77
5,775
At 31 October 2023
251
24,397
443
25,091
At 31 October 2023
265
22,527
307
23,099
At 31 October 2022
331
28,159
384
28,874
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
22,527
28,159
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
6,641
6,641
Taxes and social security
5,956
4,637
Loans from directors
632
196
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
9,424
14,412
HP Finance
2 to 5 yeas £9,424
S J Parkinson Transport of Lincoln Ltd
Notes to the Accounts
for the year ended 31 October 2023
8
Deferred taxation
2023
2022
Accelerated capital allowances
6,787
7,356
Provision at start of year
7,356
6,651
Charged to the profit and loss account
-
705
Credited to other comprehensive income
(569)
-
Provision at end of year
6,787
7,356
A reversal of accelerated capital allowances of some (£569) has been created in the current period
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).