REGISTERED NUMBER: |
Financial Statements For The Year Ended 30 November 2023 |
for |
Parkway Plumbing & Heating Limited |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
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 |
Administrative expenses |
OPERATING PROFIT |
Interest payable and similar expenses |
PROFIT BEFORE TAXATION |
Tax on profit |
PROFIT FOR THE FINANCIAL YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
Parkway Plumbing & Heating Limited (Registered number: SC486924) |
Abridged Statement of Financial Position |
30 November 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
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 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30 November 2022 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30 November 2023 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 December 2022 |
Additions |
Disposals | ( |
) |
At 30 November 2023 |
DEPRECIATION |
At 1 December 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
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 |