Company registration number 07307883 (England and Wales)
PARKER ANDREWS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
PARKER ANDREWS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
PARKER ANDREWS LTD
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
(1)
4,905
Tangible assets
4
23,098
10,540
23,097
15,445
Current assets
Stocks
512,840
276,691
Debtors
5
287,624
76,686
Cash at bank and in hand
1,188,912
1,440,532
1,989,376
1,793,909
Creditors: amounts falling due within one year
6
(411,620)
(298,176)
Net current assets
1,577,756
1,495,733
Total assets less current liabilities
1,600,853
1,511,178
Creditors: amounts falling due after more than one year
7
3
(49,029)
Provisions for liabilities
(3,429)
(2,003)
Net assets
1,597,427
1,460,146
Capital and reserves
Called up share capital
114
114
Profit and loss reserves
1,597,313
1,460,032
Total equity
1,597,427
1,460,146

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

PARKER ANDREWS LTD
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2023
30 June 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 1 March 2024 and are signed on its behalf by:
Mr A Antorkas
Director
Company Registration No. 07307883
PARKER ANDREWS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
1
Accounting policies
Company information

Parker Andrews Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Floor 5, The Union Building, 51-59 Rose Lane, Norwich, Norfolk, England, NR1 1BY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

1.2
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.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation 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:

Development costs
- 10% reducing balance
1.4
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:

Leasehold improvements
- 20% reducing balance
Plant and equipment
- 25% reducing balance
Fixtures and fittings
- 25% reducing balance
Computers
- 33% reducing balance
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

PARKER ANDREWS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense 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 difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
19
16
3
Intangible fixed assets
Other
£
Cost
At 1 July 2022 and 30 June 2023
211,103
Amortisation and impairment
At 1 July 2022
206,199
Amortisation charged for the year
4,905
At 30 June 2023
211,104
Carrying amount
At 30 June 2023
(1)
At 30 June 2022
4,905
PARKER ANDREWS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 5 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2022
-
0
24,363
24,363
Additions
6,314
16,425
22,739
At 30 June 2023
6,314
40,788
47,102
Depreciation and impairment
At 1 July 2022
-
0
13,822
13,822
Depreciation charged in the year
1,263
8,919
10,182
At 30 June 2023
1,263
22,741
24,004
Carrying amount
At 30 June 2023
5,051
18,047
23,098
At 30 June 2022
-
0
10,540
10,540
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
173,883
58,784
Other debtors
113,741
17,902
287,624
76,686
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
40,362
13,880
Corporation tax
196,582
192,785
Other taxation and social security
105,497
77,044
Other creditors
69,179
14,467
411,620
298,176
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
(3)
49,029
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