Company registration number 14203316 (England and Wales)
PARK GROUP (HEAT SEAL LIDDING) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
PARK GROUP (HEAT SEAL LIDDING) LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 4
PARK GROUP (HEAT SEAL LIDDING) LIMITED
BALANCE SHEET
AS AT
29 FEBRUARY 2024
29 February 2024
- 1 -
29 February 2024
28 February 2023
Notes
£
£
£
£
Current assets
Debtors
3
27,650
19,547
Cash at bank and in hand
100
5,000
27,750
24,547
Creditors: amounts falling due within one year
4
(7,866)
(11,232)
Net current assets
19,884
13,315
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
19,784
13,215
Total equity
19,884
13,315
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 29 February 2024 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 member has 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.
The financial statements were approved by the board of directors and authorised for issue on 15 August 2024 and are signed on its behalf by:
Mrs K A Marshall
Director
Company registration number 14203316 (England and Wales)
PARK GROUP (HEAT SEAL LIDDING) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 29 June 2022
-
Period ended 28 February 2023:
Profit and total comprehensive income
-
13,215
13,215
Issue of share capital
100
-
100
Balance at 28 February 2023
100
13,215
13,315
Year ended 29 February 2024:
Profit and total comprehensive income
-
6,569
6,569
Balance at 29 February 2024
100
19,784
19,884
PARK GROUP (HEAT SEAL LIDDING) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 3 -
1
Accounting policies
Company information
Park Group (Heat Seal Lidding) Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, United Kingdom, EX2 5WS.
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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods 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.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Taxation
The tax expense represents the sum of the tax currently payable.
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.
PARK GROUP (HEAT SEAL LIDDING) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 4 -
2
Employees
2023
The average monthly number of persons (including directors) employed by the company during the year was 0. All employees are employed by the connected company, Park Group South West Limited.
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
27,650
19,547
4
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
5,000
5,000
Taxation and social security
1,541
4,732
Other creditors
1,325
1,500
7,866
11,232