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REGISTERED NUMBER: SC486924 (Scotland)















Financial Statements For The Year Ended 30 November 2023

for

Parkway Plumbing & Heating Limited

Parkway Plumbing & Heating Limited (Registered number: SC486924)






Contents of the Financial Statements
For The Year Ended 30 November 2023




Page

Company Information 1

Abridged Statement of Comprehensive Income 2

Abridged Statement of Financial Position 3

Statement of Changes in Equity 5

Notes to the Financial Statements 6


Parkway Plumbing & Heating Limited

Company Information
For The Year Ended 30 November 2023







DIRECTORS: J Faull
D Kerr





REGISTERED OFFICE: Robb Ferguson
Regent Court
70 West Regent Street
Glasgow
G2 2QZ





REGISTERED NUMBER: SC486924 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Parkway Plumbing & Heating Limited (Registered number: SC486924)

Abridged Statement of Comprehensive
Income
For The Year Ended 30 November 2023

2023 2022
£    £   

GROSS PROFIT 189,641 197,785

Administrative expenses 177,335 180,848
OPERATING PROFIT 12,306 16,937


Interest payable and similar expenses 2,576 1,300
PROFIT BEFORE TAXATION 9,730 15,637

Tax on profit 733 6,249
PROFIT FOR THE FINANCIAL YEAR 8,997 9,388

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

8,997

9,388

Parkway Plumbing & Heating Limited (Registered number: SC486924)

Abridged Statement of Financial Position
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 88,078 17,292

CURRENT ASSETS
Stocks 55,000 45,000
Debtors 29,833 37,970
Cash at bank and in hand 50,889 86,700
135,722 169,670
CREDITORS
Amounts falling due within one year 99,828 115,967
NET CURRENT ASSETS 35,894 53,703
TOTAL ASSETS LESS CURRENT
LIABILITIES

123,972

70,995

CREDITORS
Amounts falling due after more than one
year

(65,343

)

(25,797

)

PROVISIONS FOR LIABILITIES (9,719 ) (3,285 )
NET ASSETS 48,910 41,913

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 47,910 40,913
SHAREHOLDERS' FUNDS 48,910 41,913

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Parkway Plumbing & Heating Limited (Registered number: SC486924)

Abridged Statement of Financial Position - continued
30 November 2023


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

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 30 November 2023 in accordance with Section 444(2A) of the Companies Act 2006.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:





J Faull - Director


Parkway Plumbing & Heating Limited (Registered number: SC486924)

Statement of Changes in Equity
For The Year Ended 30 November 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 December 2021 1,000 41,725 42,725

Changes in equity
Dividends - (10,200 ) (10,200 )
Total comprehensive income - 9,388 9,388
Balance at 30 November 2022 1,000 40,913 41,913

Changes in equity
Dividends - (2,000 ) (2,000 )
Total comprehensive income - 8,997 8,997
Balance at 30 November 2023 1,000 47,910 48,910

Parkway Plumbing & Heating Limited (Registered number: SC486924)

Notes to the Financial Statements
For The Year Ended 30 November 2023

1. STATUTORY INFORMATION

Parkway Plumbing & Heating Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover
Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33.33% on cost, 25% on reducing balance and 20% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Basic financial instruments are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of comprehensive income.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Current or deferred taxation assets and liabilities are not discounted.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Parkway Plumbing & Heating Limited (Registered number: SC486924)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the statement of comprehensive income over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to comprehensive income in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2022 59,344
Additions 98,118
Disposals (43,645 )
At 30 November 2023 113,817
DEPRECIATION
At 1 December 2022 42,052
Charge for year 18,702
Eliminated on disposal (35,015 )
At 30 November 2023 25,739
NET BOOK VALUE
At 30 November 2023 88,078
At 30 November 2022 17,292

Parkway Plumbing & Heating Limited (Registered number: SC486924)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 December 2022 15,495
Additions 76,994
Disposals (15,495 )
At 30 November 2023 76,994
DEPRECIATION
At 1 December 2022 10,048
Charge for year 13,152
Eliminated on disposal (10,388 )
At 30 November 2023 12,812
NET BOOK VALUE
At 30 November 2023 64,182
At 30 November 2022 5,447