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PARKERS DECORATING LIMITED

Registered Number
06328523
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2023

PARKERS DECORATING LIMITED
Company Information
for the year from 1 October 2022 to 30 September 2023

Directors

PARKER, Andrew John
PARKER, David John

Company Secretary

PARKER, Andrew John

Registered Address

94 Wycliffe Road
Northampton
NN1 5JH

Registered Number

06328523 (England and Wales)
PARKERS DECORATING LIMITED
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets721,83826,538
21,83826,538
Current assets
Stocks915,03738,795
Debtors1087,62742,124
Cash at bank and on hand2631,720
102,690112,639
Creditors amounts falling due within one year1198,35965,707
Net current assets (liabilities)4,33146,932
Total assets less current liabilities26,16973,470
Creditors amounts falling due after one year1224,40335,204
Provisions for liabilities13(4,149)(5,042)
Net assets(2,383)33,224
Capital and reserves
Called up share capital44
Profit and loss account(2,387)33,220
Shareholders' funds(2,383)33,224
The financial statements were approved and authorised for issue by the Board of Directors on 12 February 2024, and are signed on its behalf by:
PARKER, Andrew John
Director
Registered Company No. 06328523
PARKERS DECORATING LIMITED
Notes to the Financial Statements
for the year ended 30 September 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company is Painting & Decorating.
4.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-3
Fixtures and fittings-5
Vehicles25-
Office Equipment-3
Intangible assets policy
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows: Asset class: Goodwill Amortisation method and rate: Five Years
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20232022
Average number of employees during the year1212
6.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 October 22200,000200,000
At 30 September 23200,000200,000
Amortisation and impairment
At 01 October 22200,000200,000
At 30 September 23200,000200,000
Net book value
At 30 September 23--
At 30 September 22--
7.Property, plant and equipment

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 October 22259102,4134,8131,916109,401
Additions--3342,2582,592
At 30 September 23259102,4135,1474,174111,993
Depreciation and impairment
At 01 October 2217176,8454,7351,11282,863
Charge for year866,392847307,292
At 30 September 2325783,2374,8191,84290,155
Net book value
At 30 September 23219,1763282,33221,838
At 30 September 228825,5687880426,538
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
PARKER, Andrew John038,224038,224
038,224038,224
9.Stocks

2023

2022

££
Work in progress15,03738,795
Total15,03738,795
10.Debtors

2023

2022

££
Trade debtors / trade receivables33,30839,056
Other debtors52,9921,868
Prepayments and accrued income1,3271,200
Total87,62742,124
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
11.Creditors within one year

2023

2022

££
Trade creditors / trade payables48,51127,210
Taxation and social security40,85435,516
Other creditors6,814911
Accrued liabilities and deferred income2,1802,070
Total98,35965,707
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
12.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts24,40335,204
Total24,40335,204
13.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)4,1495,042
Total4,1495,042