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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
Page
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S J Parkinson Transport of Lincoln Ltd Company Information for the year ended 31 October 2023
Director
Simon Parkinson
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
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S J Parkinson Transport of Lincoln Ltd Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
23,099 
28,874 
Current assets
Debtors
4,284 
3,859 
Cash at bank and in hand
24,170 
20,515 
28,454 
24,374 
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)
Net assets
14,274 
18,091 
Capital and reserves
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
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S J Parkinson Transport of Lincoln Ltd Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
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 taxation
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.
Leased assets
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.
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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 
Depreciation
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 
Net book value
At 31 October 2023
265 
22,527 
307 
23,099 
At 31 October 2022
331 
28,159 
384 
28,874 
2023 
2022 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
22,527 
28,159 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
4,284 
3,859 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
6,764 
999 
Obligations under finance leases and hire purchase contracts
6,641 
6,641 
Trade creditors
500 
356 
Taxes and social security
5,956 
4,637 
Loans from directors
632 
196 
Accruals
575 
560 
21,068 
13,389 
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
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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 
2023 
2022 
£ 
£ 
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
9
Share capital
2023 
2022 
£ 
£ 
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).
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