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REGISTERED NUMBER: 03645483 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 October 2023

for

John Parsons Building Services Limited

John Parsons Building Services Limited (Registered number: 03645483)

Contents of the Financial Statements
for the Year Ended 31 October 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


John Parsons Building Services Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: J Parsons





SECRETARY: Mrs R Parsons





REGISTERED OFFICE: Lansdown
Crescent Close
Widemouth Bay
Bude
Cornwall
EX23 0AE





REGISTERED NUMBER: 03645483 (England and Wales)





ACCOUNTANTS: Metherell Gard Ltd
Burn View
BUDE
Cornwall
EX23 8BX

John Parsons Building Services Limited (Registered number: 03645483)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 11,908 15,176
Investment property 6 240,000 240,000
251,908 255,176

CURRENT ASSETS
Stocks 4,797 3,636
Debtors 7 270 -
Cash at bank and in hand 43,014 40,613
48,081 44,249
CREDITORS
Amounts falling due within one year 8 35,316 28,780
NET CURRENT ASSETS 12,765 15,469
TOTAL ASSETS LESS CURRENT
LIABILITIES

264,673

270,645

CAPITAL AND RESERVES
Called up share capital 9 25 25
Fair value reserve 10 46,163 46,163
Retained earnings 218,485 224,457
SHAREHOLDERS' FUNDS 264,673 270,645

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 18 April 2024 and were signed by:





J Parsons - Director


John Parsons Building Services Limited (Registered number: 03645483)

Notes to the Financial Statements
for the Year Ended 31 October 2023


1. STATUTORY INFORMATION

John Parsons Building Services 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 as modified by the revaluation of certain assets.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of expenses recognised that it is probable will be recovered.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1998, is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery15% reducing balance
Fixtures, fittings & equipment15% reducing balance
Motor vehicles25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

John Parsons Building Services Limited (Registered number: 03645483)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


2. ACCOUNTING POLICIES - continued

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

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown with borrowings in current liabilities.

Financial instruments
The company has elected to apply provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instruments.

Basic financial assets
Basic financial assets which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivables within one year are not amortised.

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

Basic financial liabilities
Basic financial liabilities, including trade and other payables are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Equity Instruments
Equity instruments issued by the company are recorded at the proceeds received, net of the transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation

Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expenses that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred Tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing differences arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit not the accounting profit.

Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiation and arranging an operating leases are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

3. EMPLOYEES AND DIRECTORS

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

John Parsons Building Services Limited (Registered number: 03645483)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 6,780
AMORTISATION
At 1 November 2022
and 31 October 2023 6,780
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 23,984
DEPRECIATION
At 1 November 2022 8,808
Charge for year 3,268
At 31 October 2023 12,076
NET BOOK VALUE
At 31 October 2023 11,908
At 31 October 2022 15,176

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 240,000
NET BOOK VALUE
At 31 October 2023 240,000
At 31 October 2022 240,000

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2023 240,000

John Parsons Building Services Limited (Registered number: 03645483)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


6. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 193,837 193,837

Investment property was valued on an open market basis on 31 October 2023 by the director .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 270 -

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 60 11
Taxation and social security 968 786
Other creditors 34,288 27,983
35,316 28,780

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
20 A 1 20 20
5 B 1 5 5
25 25

10. RESERVES
Fair
value
reserve
£   
At 1 November 2022
and 31 October 2023 46,163