REGISTERED NUMBER: |
Report of the Director and |
Unaudited Financial Statements For The Year Ended 31st December 2023 |
for |
L. J. Parris and Sons Limited |
REGISTERED NUMBER: |
Report of the Director and |
Unaudited Financial Statements For The Year Ended 31st December 2023 |
for |
L. J. Parris and Sons Limited |
L. J. Parris and Sons Limited (Registered number: 00476200) |
Contents of the Financial Statements |
For The Year Ended 31st December 2023 |
Page |
Company Information | 1 |
Report of the Director | 2 |
Income Statement | 3 |
Other Comprehensive Income | 4 |
Statement of Financial Position | 5 |
Statement of Changes in Equity | 7 |
Notes to the Financial Statements | 8 |
L. J. Parris and Sons Limited |
Company Information |
For The Year Ended 31st December 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
106 Charter Avenue |
Ilford |
Essex |
IG2 7AD |
L. J. Parris and Sons Limited (Registered number: 00476200) |
Report of the Director |
For The Year Ended 31st December 2023 |
The director presents his report with the financial statements of the company for the year ended 31st December 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of farmers. |
DIRECTOR |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
L. J. Parris and Sons Limited (Registered number: 00476200) |
Income Statement |
For The Year Ended 31st December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
45,045 | 23,768 |
Other operating income |
OPERATING PROFIT | 4 |
Interest receivable and similar income |
72,600 | 51,509 |
Interest payable and similar expenses |
PROFIT BEFORE TAXATION |
Tax on profit |
PROFIT FOR THE FINANCIAL YEAR |
L. J. Parris and Sons Limited (Registered number: 00476200) |
Other Comprehensive Income |
For The Year Ended 31st December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
PROFIT FOR THE YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
L. J. Parris and Sons Limited (Registered number: 00476200) |
Statement of Financial Position |
31st December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Revaluation reserve | 12 |
Retained earnings | 12 |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
L. J. Parris and Sons Limited (Registered number: 00476200) |
Statement of Financial Position - continued |
31st December 2023 |
The financial statements were approved by the director and authorised for issue on |
L. J. Parris and Sons Limited (Registered number: 00476200) |
Statement of Changes in Equity |
For The Year Ended 31st December 2023 |
Called up |
share | Retained | Revaluation | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
Balance at 1st January 2022 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - |
Balance at 31st December 2022 |
Changes in equity |
Dividends | - | ( |
) | - | ( |
) |
Total comprehensive income | - | ( |
) |
Balance at 31st December 2023 |
L. J. Parris and Sons Limited (Registered number: 00476200) |
Notes to the Financial Statements |
For The Year Ended 31st December 2023 |
1. | STATUTORY INFORMATION |
L. J. Parris and Sons 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Tractors | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
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. |
Deferred tax |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
L. J. Parris and Sons Limited (Registered number: 00476200) |
Notes to the Financial Statements - continued |
For The Year Ended 31st December 2023 |
31.12.23 | 31.12.22 |
£ | £ |
Director's remuneration |
4. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
31.12.23 | 31.12.22 |
£ | £ |
Depreciation - owned assets |
Profit on disposal of fixed assets | ( |
) |
5. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Motor |
property | machinery | Tractors | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st January 2023 |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) |
At 31st December 2023 |
DEPRECIATION |
At 1st January 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) |
At 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
At 31st December 2022 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST |
At 1st January 2023 | 100 |
Additions | 562,578 |
Disposals | ( |
) | (562,578 | ) |
At 31st December 2023 | 100 |
NET BOOK VALUE |
At 31st December 2023 | 100 |
At 31st December 2022 | 100 |
L. J. Parris and Sons Limited (Registered number: 00476200) |
Notes to the Financial Statements - continued |
For The Year Ended 31st December 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Tax |
Social security and other taxes |
Other creditors |
Directors' current accounts | 93,993 | 79,935 |
Accrued expenses |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
B Ordinary shares | - | 1,000 |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
B Ordinary shares |
10. | PROVISIONS FOR LIABILITIES |
31.12.23 | 31.12.22 |
£ | £ |
Deferred tax |
Accelerated capital allowances | 5,000 | 22,000 |
Deferred |
tax |
£ |
Balance at 1st January 2023 |
Accelerated capital allowances | (17,000 | ) |
Balance at 31st December 2023 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.23 | 31.12.22 |
value: | £ | £ |
Ordinary | £1 | 10,000 | 10,000 |
L. J. Parris and Sons Limited (Registered number: 00476200) |
Notes to the Financial Statements - continued |
For The Year Ended 31st December 2023 |
12. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
At 1st January 2023 | 890,344 |
Profit for the year |
Dividends | ( |
) | ( |
) |
Trf from revaluation reserve | 16,862 | (16,862 | ) | - |
At 31st December 2023 | 299,522 |
13. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £66,300 (2022 - £40,500) were paid to the director . |
The following amount was due to the director at the end of the year: |
K J Parris £93,993 (2022 - £79,935). |
The following amount was due to the wife of the director, Mrs M L W Parris, at the end of the year: |
£25,354 (2022 - £57,035). |
During the year Margaret Whiteford Associates Limited, a company in which the wife of K J Parris is a director and has material interest, invoiced the company £21,120 (2022 - £24,485) in respect of clerical services and support. The director considers the charge to be at arms length and on commercial terms. The amount owing at the end of the year was £1,880 (2022 £6,825). |
During the year the company acquired 100% of the share capital of Paris Hall Farm Limited, a company of which K J Parris and M W L Parris are also directors. The shares were acquired in exchange for various freehold properties of the company. The shares were later transferred to the ultimate holding company by way of a dividend in specie, at cost.The shares were later demerged from the newly formed group and are now owned by a company under the control of the directors. |
Paris Hall Farms Limited charged the company £36,806 in rent during the year which was outstanding at the year end. Similarly L J Parris and Sons charged Paris Hall Farm Ltd the sum of £1,632 in recharged costs which was outstanding at the year end. |
14. | ULTIMATE CONTROLLING PARTY |
The controlling party is K J Parris. |
The ultimate controlling party is KJ Parris due to his shareholding in the ultimate holding company, Parris Partners Limited, a company incorporated in the UK. |